ASX Release - Settlement of Cargill Dispute Nov 2019
Namoi Cotton Limited (‘Namoi’) noted in its recent half year results announcement that one of its
major priorities was resolving the commercial dispute with Cargill Australia Limited (‘CAL’). This
dispute was in relation to the Cargill Oilseeds Australia partnership (‘COA’) in which Namoi had a
Namoi is pleased to announce that it has now settled the dispute, including dismissal of prediscovery
proceedings, and has simultaneously sold its 15% interests in COA and Cargill
Processing Limited (‘CPL’) to CAL.
The terms of the dispute settlement are confidential, however Namoi confirms there will be no
material impact on FY20 pre-tax earnings or cash flows from operating activities. Given the
capital nature of these transactions, the current FY20 cashflow guidance remains unchanged.