Australian Agricultural Company Limited has experienced many events in its past years:

Disposal of property, plant and equipment

On 18 April 2013 the Company announced it would sell two non-strategic Queensland properties, Brighton Downs and Adelong

On 20 May 2013 the Company announced it had exchanged a contract for the sale of subdivisions of its Goonoo aggregation, including Adelong, in Central Queensland for $23 million

The contract is subject to conditions including Minister’s consent, regulatory approval and financier approvals The expected completion date for the contract is late June 2013 The sale represented a gain over the carrying book value, based on a recent independent valuation The properties consist of three adjacent dry land farming and grazing properties within the Goonoo aggregation, totalling 19,404 hectares (48,000 acres) - Adelong, Marilla and Rhudanna

Under the sale agreement, AACo will lease back 7,800 hectares (19,200 acres) of mostly high quality cropping land for a five-year period at a commercial rate In addition, AACo will sell the purchaser 4,000 steers at an average price of $164 per live-weight kilo AACo will retain 8,400 hectares (20,700 acres) of property within the Goonoo aggregation, including all water licences, irrigation infrastructure, feedlots and feed mills and the major balance of housing and capital works

The Brighton Downs sale is being conducted by Elders Real Estate and was passed in at auction on 22 May 2013 for $1025 million, with negotiations continuing with interested parties