21 Jul 2010

Banking extension arranged by Allied Farmers

6:12 am on 21 July 2010

Shares in Allied Farmers climbed almost 10% on Tuesday, after the rural services company announced it has arranged a six-month extension on its banking arrangements with Westpac.

Managing director Rob Alloway says an earlier extension to late September has now been pushed out to the end of March next year.

Mr Alloway says the company and the bank are also developing several debt retirement and restructuring initiatives.

Shares in Allied Farmers rose 0.4 cents to 4.9 cents on Tuesday.