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Wellard is an important link in meeting rising global demand for protein through the supply of quality livestock to consumers throughout the world. The purpose-built, technologically advanced livestock vessels that we charter to exporters and importers throughout the world, combined with a specialist livestock crew, ensure optimal welfare outcomes for the livestock on-board and a quality product our customers.

Reschedule of Delivery of M/V Ocean Kelpie

November 8, 2016

ASX Announcement

Wellard Limited (ASX: WLD) announced that its wholly-owned subsidiary, Wellard Ships Pte Ltd has reached an agreement to further defer the delivery date for the M/V Ocean Kelpie, currently being built by Uljanik d.d. (“Uljanik”) shipyards in Croatia.

The delivery is now expected to take place within Q3 FY19. This will accommodate Uljanik’s production programme and allow Wellard to continue to adjust its fleet capacity to ongoing changes in the cattle supply market in Australia.

The substantive terms of the shipbuilding contract remain the same. There is no penalty payment and liquidated damages remain in place in case of late delivery based on the new delivery date. All stage payments will be postponed by the same time, enabling Wellard to utilise its cash in other areas of the business.

For further information:

Investors
Managing Director, Mauro Balzarini
Phone: + 61 8 9432 2800

Media
FTI Consulting, Cameron Morse
Phone: + 61 8 9485 8888
Mobile: +61 (0) 433 886 871

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