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the NANT ANGUS FOUNDATION HERD offer


Terms & Conditions

Nant Angus Holdings Pty Ltd recommends that you consult a licensed tax advisor before purchasing any offer.

 1. The Offer

Nant Angus Holdings Pty Ltd (Nant) has a unique opportunity available to own ten pure bred black Angus heifers (the Herd) to be grazed and managed by Nant under a five year lease with the option to sell the Herd back to Nant at the end of the 5 year term (clause 5). The Herd will be grazed and managed by Nant during the term of the lease in accordance with clause 1.1. Nant is now inviting offers (in the form of the attached Order Form) (Offer) from interested buyers (Buyer) to purchase the Herd on these Terms and Conditions. Nant retains the right not to accept any Offer received or to limit the number of Offers that may be placed by a Buyer.

1.1. Each NANT ANGUS FOUNDATION HERD OPPORTUNITY includes:

(a) ten pure bred black Angus heifers;

(b) professional livestock management;

(c) grazing of the Herd;

(d) loss replacement in accordance with clause 7;

(e) annual vet checks;

(f ) insurance of the Herd in accordance with clause 9; and

(g) electronic tagging of cattle in line with the National Livestock Identification System (NLIS).

1.2. The Buyer offers to purchase the Herd from Nant and lease the Herd to Nant in accordance with clause 3.

1.3. Nant may accept the Offer (or vary the Offer) by providing written notice to the Buyer. Acceptance of the Offer will give rise to an agreement between Nant and the Buyer which incorporates these Terms and Conditions (the Agreement).

1.4. Nant will electronically tag each cattle in the Herd in accordance with the standard practices of the NLIS and provide the Buyer with the NLISID numbers for each cattle in the Herd at the Date of Purchase.

2. The Purchase Price

2.1. The purchase price of 1 x Herd is AUD$30,000 including GST or such other price determined by Nant (Purchase Price). Nant reserves the right to vary this price at its discretion.

2.2. The Buyer makes an Offer by completing and returning the Order Form in full and returning it along with cleared funds to the value of the Purchase Price to: Nant Angus Holdings Pty Ltd, River Office, Brisbane Powerhouse, 119 Lamington St, New Farm. Brisbane, or by email to sales@nant.com.au.

2.3. Nant reserves the right to reject any Offer made to Nant. If an Offer is rejected, Nant will refund any funds received from the Buyer under the Offer.

2.4. Nant will notify the Buyer of acceptance within 28 days of receiving the Offer. In the absence of contrary intention, failure to notify the Buyer within 28 days is deemed to constitute a rejection of the Offer by the Buyer.

2.5. The Agreement will commence on the provision of a tax invoice by Nant to the Buyer and the receipt of funds to Nant’s nominated bank account (Date of Purchase).

3. Lease

3.1. From the Date of Purchase, the Buyer leases the Herd to Nant for a period of five (5) years (Lease Term).

3.2. During the Lease Term, Nant agrees to graze and manage the Herd in accordance with clause 6.

4. Rental

4.1. In consideration for the lease of the Herd during the Lease Term, Nant agrees to pay the Buyer an amount of 9.55% of the Purchase Price compounded annually (including GST) within14 days after the expiry of the Lease Term. For the avoidance of doubt, where the Purchase Price is AUD$30,000, the amount payable under this clause 4.1 is AUD$17,335.

5. Expiry Of Lease Term

5.1. No later than 3 months prior to the expiration of the Lease Term (Election Due Date), the Buyer must notify Nant of its election of one of the following options:

(a) (Option 1: Sell) The Buyer may elect to sell the Herd to Nant by providing written notice to Nant. If the Buyer elects this option, Nant will buy the Herd from the Buyer for the Purchase Price.

(b) (Option 2: Take Possession) The Buyer may elect to take possession of the Herd from the first business day following the expiry of the Lease Term. If the Buyer elects this option, the Buyer must collect the Herd from Nant’s property within 14 business days after expiration of the Lease Term (Collection Date). The Buyer will be required to pay all reasonable amounts, including grazing and management fees, attributable to a failure by the Buyer to collect the Herd by the Collection Date, as notified by Nant.

5.2. If written notice of election is not received before the Election Due Date, the Buyer is deemed to have elected to take possession of the Herd under clause 5.1.

5.3. For the avoidance of doubt, in addition to any amounts payable to the Buyer as a result of the election made in clause 5.1, the Buyer will be entitled to the rental in accordance with clause 4.

6. NANT OBLIGATIONS DURING LEASE TERM

During the Lease Term, Nant:

6.1. must manage the Herd;

6.2. must ensure that the Herd undergoes annual vet checks;

6.3. must ensure the Herd has sufficient feed and water.

6.4. will, at its discretion, determine whether to replace any sick of injured member of the Herd.

7. LOSS REPLACEMENT

7.1. Where any heifer in the Herd dies during the Lease Term, Nant will replace such heifer with another black pure bred Angus heifer.

7.2. Nant must promptly provide the Buyer with the NLISID numbers of each replacement heifer and deceased heifer.

8. PROGENY

8.1. In consideration of Nant performing its obligations under these Terms and Conditions, the Buyer agrees that Nant will own all progeny of the Herd born during the Lease Term.

8.2. The Buyer waives any right, entitlement or claim to the progeny of the Herd.

9. INSURANCE

9.1. Insurance of the Herd, as determined necessary by Nant, is included in the Purchase Price, with the Buyer being co-insured for the Herd. Nant does not warrant the sufficiency of the insurance and if the Buyer decides that it requires supplemental insurance for the Herd, it is the Buyer’s responsibility to obtain this. It is the Buyer’s responsibility to understand their insurance requirements. A product disclosure statement for the insurance cover included in the purchase price is available on request.

10. TITLE

10.1. The Buyer holds title of the Herd. The ownership of the Herd is transferred from Nant to the Buyer on the Date of Purchase.

10.2. The Buyer may request to inspect the Herd once each year at the annual muster on providing at least 14 days’ notice to Nant. The inspection will be at the discretion of Nant and in accordance with work place safety and authorised entry guidelines. The Herd is at the risk of Nant during the Lease Term.

11. OPERATION OF NANT

11.1. The Buyer expressly acknowledges and agrees that nothing in these Terms and Conditions will give the Buyer or create in the Buyer, either expressly or impliedly, any rights in the operation of Nant or the management of Nant in any way.

12. GST

12.1. A reference to GST is a tax or imposition levied under the A New Tax System (Goods and Services Tax) Act 1999 and any related tax imposition Act (whether imposing tax as a duty of customs excise or otherwise) and includes any legislation which is enacted to validate recapture or recoup the tax imposed by any of such Acts. Nant recommends that you consult a licensed tax advisor to fully understand you individual tax requirements.

13. GENERAL

13.1. Unless the contrary intention appears, a reference in these Terms and Conditions to:

(a) (variations or replacement) a document (including this Agreement) includes any variation or replacement of it;

(b) (reference to statutes) a statute, ordinance, code or other law includes regulations and other instruments under it and consolidations, amendments, re-enactments or replacements of any of them;

(c) (singular includes plural) the singular includes the plural and vice versa;

(d) (executors, administrators, successors) a particular person includes a reference to the person’s executors, administrators, successors, substitutes (including persons taking by novation) and assigns;

(e) (two or more persons) an agreement, representation or warranty in favour of two or more persons is for the benefit of them jointly and each of them individually;

(f ) ( jointly and individually) an agreement, representation or warranty by two or more persons binds them jointly and each of them individually;

(g) (meaning not limited) the words “include”, “including”, “for example” or “such as”, when introducing an example, does not limit the meaning of the words to which the example relates to that example or examples of a similar kind;

(h) (reference to anything) anything (including any amount) is a reference to the whole and each part of it;

(i) headings (including those in brackets at the beginning of paragraphs) are for convenience and do not affect the interpretation of this Agreement.

13.2. The Agreement and these Terms and Conditions will be governed by and construed in accordance with the laws applicable in Tasmania, Australia.