AGRICULTURAL LAND TRUST(AGJ)

ALT No 1 Trust, the trust which owns Linkletter's Place, has entered a lease over the existing cleared areas of the property, with further areas to be added to the leased area during the term of the lease as the existing timber assets are harvested. . ALT No 1 Trust has reached a settlement agreement with a previous prospective tenant for which proposed lease terms were unable to be agreed, which has facilitated the entry into the lease referred to above. It has been informed by SPF Resources Pty Ltd, the party engaged to harvest the timber assets, that they expect harvest activities to recommence in or around June 2021. Completion of the surrender agreement with the existing tenant of limited areas of the Property is expected to occur during the week commencing 19 April 2021.

The company lodges its Appendix 4D and Half Year Accounts.

One Managed Investment Funds Limited advises it has reached agreement with the tenant at Linkletter's Place for the tenant to surrender its lease. This lease is over a limited area of Linkletter's Place and provides no income to AGJ. The surrender will take effect in approximately three months and is expected to provide greater flexibility for AGJ to lease the harvested areas at Linkletter's Place and eventually these limited areas that were previously subject to that lease. OMIFL has reached agreement with the lender that is related to a major unitholder, to the AGJ to increase the facility limit to $1.65 million. This additional funding is expected to be used to fund the surrender and to also provide funding for operating costs while harvesting activities are paused.

The company releases its Amended Constitution.

The company releases the results of its meeting.

The Trust will be holding its meeting at 2:00pm AEST on Friday, 25 September 2020 at Level 16, Governor Macquarie Tower, 1 Farrer Place, Sydney NSW 2000.

One Managed Investment Funds Limited today announces its results for the year ended 30 June 2020. The release of the Fund's 30 June 2020 Annual Report ends the voluntary suspension requested by the Fund on 13 July 2020. The voluntary suspension was necessary to allow OMIFL to assess the implications of the receivership of iProsperity Underwriting Pty Ltd. The highlights are as follows: revenue from the sale of timber increased from $0.9 million to $1.5 million, despite the current pause in harvesting activities;an 11% increase in the value of Linkletter's Place to $39.6 million; the extension of its core debt by a further two years; and securing a two-year unsecured facility to assist with paying interest while harvesting activities at Linkletter's Place are paused.

The company releases its Appendix 4G & Corporate Governance Statement 2020.

The company lodges its Annual Report to unitholders for the year ended 30 June 2020.

The company lodges its Appendix 4E - Financial Report - 30 June 2020.

One Managed Investment Funds Limited has been informed that voluntary administrators have been appointed to iProsperity Underwriting Pty Ltd. This appointment is in addition to and does not displace the appointment by AGJ Group of a receiver to iProsperity Underwriting Pty Ltd. The responsible entity continues to seek information from IPU to better understand the implications for the Trust. AGJ is seeking to secure alternative sources of funding and to reduce expenditure where possible given the potential total loss of the margin income from IPU and the temporary loss of the timber harvest income.

The securities of Agricultural Land Trust will be suspended from quotation immediately under Listing Rule 17.2, at the request of AGJ, pending the release of an announcement regarding the status of the receivership of iProsperity Underwriting Pty Limited and its implications for the financial status of AGJ.

The suspension of trading in the securities of Agricultural Land Trust will be lifted from the commencement of trading on Monday, 9 March 2020 following the release by AGJ of an announcement regarding a change in circumstances which may impact on the 31 December 2019 interim financial report.

One Managed Investment Funds Limited announces a change in circumstances which may have an impact on the Agricultural Land Trust's interim financial statements announced to the market on 2 March 2020. The interim financial statements announced to the market on 2 March 2020, were prepared on the basis that the full amount of interest payable as of 29 February 2020 had been paid by iPU to the Group for value on 2 March 2020. OMIFL relied on representations and evidence provided to it by iPU that the interest was to be paid to the Group for value on 2 March 2020. Contrary to these representations and evidence, the actual amount of interest received by the Group was substantially less. The ALT Group has advised iPU that it considers it is in default under the various loan agreements. OMIFL continues to seek information from iPU to allow it to determine the appropriate carrying values of the outstanding interest and the loans and to seek payment of the outstanding interest.

The securities of Agricultural Land Trust will be suspended from quotation immediately under Listing Rule 17.2, at the request of AGJ, pending the release of an announcement regarding the finalisation of investigations in relation to the recently announced financial statements.

name changed from Westralia Property Trust