TIMBERCORP ORCHARD TRUST
REPORTS and ANNOUNCEMENTS
DISTRIBUTIONS
The Timbercorp Orchard Trust was established in December 2003 and owned the following two properties:
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“Kangara”, a citrus orchard and wine grape vineyard property located near Renmark in South Australia; and
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“Costa’s Crest” and “Bella Vista”, table grape vineyards (collectively known as "Bella Vista") located near Euston in New South Wales.
The Trust is funded as follows:
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Equity capital represented by 24,976,537 fully paid ordinary units in the Trust
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Secured debentures which are listed on the ASX under the code TODHA (currently suspended)
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Unsecured annuity bonds which are unlisted
On 22 October 2009 the Trustee for the Debenture holders (Permanent Nominees Aust. Ltd) appointed Paul Kirk and Stephen Longley of PricewaterhouseCoopers as Receivers & Managers of Align Funds Management Limited in its capacity as Responsible Entity of the Trust. Following the resignation of Stephen Longley from PricewaterhouseCoopers Mr Michael Fung was appointed in his place.
The Receivers & Managers have now sold the Trust's two properties and associated water rights. Net proceeds from these sales have been placed into trust accounts by the Receivers & Managers awaiting determination by the Supreme Court of Victoria of the rights of the Timbercorp Citrus and Table Grape MIS Growers to the sale proceeds, if any. Refer to Reports below for the latest update on the status of the Trust.
REPORTS & ANNOUNCEMENTS - TIMBERCORP ORCHARD TRUST
DISTRIBTION INFORMATION - TIMBERCORP ORCHARD TRUST
| Financial Year Ended 30 June | 2009 | 2008 | 2007 | 2006 |
| Cents per unit | Cents per unit | Cents per unit | Cents per unit |
| Half year distribution
Payment date | 2.00
27/02/2009 | 5.470
29/02/2008 | 5.240
28/02/2007 | 5.125
28/02/2006 |
| | | | |
| Final distribution
Payment date | Nil | 4.030
29/08/2008 | 5.240
31/08/2007 | 5.150
30/08/2006 |
| | | | |
| Total distribution | 2.00 | 9.500 | 10.480 | 10.275 |
| | | | |
| Portion Taxable | 19.85% | 0.00% | 48.33% | 46.16% |
| Portion Tax Deferred | 80.15% | 100.00% | 51.67% | 53.84% |
