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2012 Archive - Nufarm

2012 Archive



28 Nov 2012 Class action settlement approved
Nufarm Limited announced that the Federal Court has today approved the settlement agreement relating to class action proceedings that were brought against the company in early 2011.

27 Nov 2012 Class action – amended settlement proposal
Nufarm Limited announced today that the Federal Court (Victorian Registry) will be asked tomorrow to give final approval to a settlement of the class action brought against the company by Maurice Blackburn and Slater & Gordon in early 2011. The settlement agreement has been amended to cover an expanded number of claims, with Nufarm agreeing to pay a total of $46.6 million (previously $43.5 million).

20 Nov 2012 Arbitration Update
In previous announcements (including in Note 34 to the financial statements for the year ended 31 July 2012), Nufarm Limited (“Nufarm”) has made disclosures concerning arbitration proceedings in Brazil against the previous owners of the Brazil business in relation to pre-acquisition tax liabilities and associated indemnities.
Nufarm today announces that an award from the Arbitral Tribunal has now been received.

31 Oct 2012 Non executive director appointment
Nufarm Limited today announced that its Board has approved the appointment of a non-executive director representing the interests of 23% shareholder Sumitomo Chemical Company (SCC).
Mr Toshikazu Takasaki will join the Nufarm Board with effect from the conclusion of Nufarm's AGM on 6 December. Mr Takasaki is a former executive of SCC who held senior management positions in businesses relating to crop protection, both within Japan and in the US. He is now a business consultant.

10 Oct 2012 Nufarm announces new Board member
Nufarm Limited announced today that Mr Frank Ford will join the Nufarm Board as a non-executive Director, effective 10 October.

01 Oct 2012 Nufarm prices US$325 million Senior Unsecured Notes Offering
Nufarm Limited today announced the pricing by its wholly-owned subsidiary, Nufarm Australia Ltd, of US$325 million in aggregate principal amount of 6.375% Senior Unsecured Notes due 2019 (the “Notes”) in an offering to qualified institutional buyers in the United States pursuant to Rule 144A under the United States Securities Act of 1933, as amended (the “Securities Act”), and to certain persons outside the United States in offshore transactions in reliance on Regulation S under the Securities Act.

21 Sep 2012 Nufarm announces assignment of corporate debt rating from Moody’s Investor Services
Nufarm today announces that Moody’s Investor Services has assigned Nufarm a corporate rating of 'Ba2' with a stable outlook.

21 Sep 2012 Nufarm announces change of date for release of FY12 results
Nufarm Limited announces that it will release its financial results for the period 1 August 2011 to 31 July 2012 on Monday 24 September 2012.

21 Sep 2012 Nufarm announces proposed Offering of Senior Unsecured Notes
Nufarm Limited today announced the intention of its wholly-owned subsidiary, Nufarm Australia Ltd, to offer, subject to market and other conditions, US$300 million aggregate principal amount of Senior Unsecured Notes (the "Notes").

07 Aug 2012 Starpharma and Nufarm Sign Crop Protection Agreement
Nufarm Limited (ASX:NUF), via its subsidiary Nufarm Australia Limited, and Starpharma Holdings Ltd (ASX:SPL; OTCQX:SPHRY) today announced the signing of an agreement under which the parties will apply Starpharma’s Priostar® dendrimer technology to develop innovative crop protection formulations for Nufarm’s product portfolio.

01 Aug 2012 Nufarm enters into settlement agreement on class action proceedings
Nufarm Limited has entered into a conditional settlement agreement in relation to the class proceedings commenced by Maurice Blackburn and Slater & Gordon in early 2011. The settlement covers claims made on behalf of group members who acquired shares during the period from September 2009 to August 2010.

26 Jul 2012 Nufarm forecasts strong growth in underlying profit
Nufarm Limited announced today that it expects to generate underlying Earnings before Interest and Tax (EBIT) of between $200 million and $205 million for the current financial year, ending July 31. This compares with an underlying EBIT1 of $171.8 million in the previous financial year. Underlying profit after tax2 is expected to be a range of $110 million to $116 million (2011: $98.1 million).

12 Jul 2012 Nufarm and Sumitomo Chemical enter into distribution contract in Italy
Nufarm Limited (“Nufarm”) and Sumitomo Chemical Company Limited (“Sumitomo Chemical”) announced today that Nufarm Italia has signed a non-exclusive distribution contract with Sumitomo Chemical Italia. The new arrangements will take effect from August 1, 2012.

28 May 2012 Nufarm expands production capabilities in USA
Nufarm will establish a new manufacturing facility in Chicago to support growth in the fungicides, insecticides and seed treatment segments.
The new facility, which will open in 2013, will also accommodate Nufarm's North American headquarters and the global head office for the group's seed technologies business, Nuseed. The project involves a capital investment of approximately $9 million.

18 May 2012 Nufarm announces new management appointments
Nufarm Limited announced today that it has changed its European management structure, with the appointment of a new head of European operations.

27 Mar 2012 Nufarm reports higher first half profit (119KB PDF)
Nufarm Limited today announced a net profit after tax of $18 million for the half year ended January 31, 2012. This compares with a profit of $4 million reported in the corresponding period of the previous year. Excluding material items, operating profit after tax was $23.9 million, an increase of 5.3% on the 2011 first half. Operating EBIT was up 11.8% to $37.8 million.

27 Mar 2012 Retirement of Non-executive Director (101KB PDF)
Nufarm Limited announced today that Dr Bob Edgar has stepped down from the company's Board.

19 Mar 2012 Nufarm and Sumitomo Chemical Expand Strategic Alliance in Canada and Central and Eastern Europe (175KB PDF)
Nufarm Limited (“Nufarm”) and Sumitomo Chemical Company Limited (“Sumitomo Chemical”) announced today that new distribution arrangements between the two companies have been put in place for Canada and three European countries--Hungary, Romania and Ukraine.

30 Jan 2012 Executive management changes at Nufarm (PDF 104KB)
Nufarm Limited today announced that several important changes are being made at the executive level of the company.