Estate planning option
Farmers wishing to ensure they have a greater control over the distribution of their assets after death have been urged to look at a new Grains Research and Development Corporation (GRDC) Farm Business fact sheet on testamentary trusts.
Testamentary trusts enable tax-effective distribution of capital and income to any nominated beneficiary.
It is established by a will, coming into existence on the death of the will-maker.
Estate planners can use the trust to manage control passed to the next generation, with a testamentary holding estate assets for the benefit of a set class of beneficiaries – usually a spouse, children and grandchildren.
The fact sheet is available at https://grdc.com.au/GRDC-FS-TaxEffectiveDistribution.
Pork’s marketing recruit
Australian Pork Limited (APL) has appointed new specialist director, Andrew Baxter and reappointed producer directors, Dr Brian Luxford and David Plant.
Mr Baxter will fill the vacancy created by specialist Kay Carey who retires from the board after an 11-year stint, in accordance with the rotational requirements of the APL constitution.
He has diverse experience as a marketing and communications expert who has worked on some of Australia’s most visible brand communications campaigns.
Incitec director retires
Incitec Pivot director Greg Hayes will retire from the board at this year’s annual general meeting on December 21 due to his increased interest in several unlisted companies as a director and an investor.
Mr Hayes, who has been a director of the fertiliser and explosives company since 2014, also recently stepped down from the board of The Star Entertainment Group.
Nufarm share offer ends
Nufarm has closed its two-for-nine retail investor share offer, raising $85 million from the company’s existing shareholders
A further $26m in retail shares have been offered to new investors as part of a shortfall bookbuild.
The retail offer was the second stage of Nufarm’s $446m equity raising announced last month, which included an institutional offer raising $338m.
The latest shares issued begin trading on the Australian Securities Exchange next week.