QAF conducts strategic review of primary production business in Australia

QAF Limited is conducting a strategic review of its primary production business in Australia to enhance shareholder value, the company announced on Friday.

QAF said that the review is in its preliminary stages, and may result in a listing of the business segment in Australia or a complete sale of that business. However, whether the proposed listing or sale materialises depends on the results of the preparatory work, approval from shareholders and relevant regulatory authorities, and the then-prevailing market conditions.

The Singapore Exchange Securities Trading Limited (SGX-ST) confirmed on May 4 that the proposed listing is not a chain listing under the SGX-ST Listing Manual, QAF noted in its announcement.

The company said that it will make further announcements on the review as and when appropriate. It reminded shareholders and other investors to exercise caution in dealing with QAF securities and to consult their relevant professional advisers if in doubt about action to take.