Dairy Holdings Limited

Dairy Holdings Limited (Dairy Holdings) is a New Zealand registered company with 100% of its farming assets in the South Island of New Zealand

The extensive South Island operations are undertaken through wholly owned subsidiary companies and are managed from the Group's Timaru office. These operations commenced in June 2001 following the purchase by the Group of the major Canterbury and North Otago dairy properties from the corporate farming entities Tasman Agriculture Limited and Dairy Brands Limited.

Profile of Operations

The New Zealand dairy operations of Dairy Holdings are conducted through four autonomous wholly owned subsidiary groups, Dairy Farm Holdings Ltd, Clumber Farms Ltd, Livestock Holdings Ltd and West Coast (Dairy) Ltd. For the 2010/11 season, these groups will operate 58 dairy units on 14,201 effective hectares, milking 43,439 cows to produce approximately 15.1 million kilograms of milk solids.

Of these dairy farms, 18 have been operated from 1 June 2010 under 50/50 Sharemilking agreements, whereby Dairy Holdings supplies the land, buildings and infrastructure, and the Sharemilker provides the livestock, plant and machinery necessary to operate the farm; 15 under Lower Order Sharemilking agreements, where the Sharemilker provides the plant and machinery necessary to operate the farm and may provide some of the livestock; 8 under Contract Milking Agreement where the Milker provides the plant and machinery; and 17 as managed farms where the farm owner provides all the farm, livestock and plant and machinery resources.

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