Rural Equities Limited (REL) is a company which invests in and manages rural property for long term capital growth and income. Originally incorporated in 1989, the company has its head office in Hastings, New Zealand.

Through its 100% wholly owned subsidiary, the New Zealand Rural Property Trust, it owns a diverse portfolio of seventeen high quality rural properties spread throughout New Zealand, comprising 7,176 hectares.

The farms are a mix of sheep and beef, dairy, deer and arable and are spread throughout New Zealand from Waikato to Southland. There are twelve farms in the South Island and five in the North Island. Nine are leased to individual farmers and the other eight are directly managed.

Six of the directly managed farms are dairy farms and approximately 4,800 cows are milked in conjunction with 50/50 sharemilkers. There is one dairy support grazing property in Canterbury. The remaining directly managed property (Waikoha) is a large sheep and beef farm situated in the Waikato district.

Environmental considerations and good soil husbandry feature strongly at all REL properties, together with tree planting programmes in strategic locations.

REL has investments in Webster Limited and PGG Wrightson Limited. Webster is an ASX listed company with diversified agricultural operations encompassing cropping, walnut growing, livestock and water entitlements. REL’s investment is 1.54% (5.56 million shares) of Webster. PGG Wrightson is a leading rural servicing business in New Zealand providing nationwide livestock, rural and horticultural supplies, grain and seed, wool, finance and real estate services. REL’s investment is 3.77% (2.84 million shares) of PGG Wrightson.

In addition to its rural activities, REL is the administration manager of the PGG Wrightson Employee Benefits Plan and provides administrative and accounting services to a number of other entities.

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