Great Southern embarks on a major business restructure following the company's recent strategic review.
Great Southern has proposed a major restructure as a result of the company's strategic review over the past six months.
The proposed restructure will see Great Southern build three core business streams of forestry, agriculture investment services and cattle.
The transformation will see investors in eight of Great Southern's managed investment schemes (MIS) exchanging their interests in the forestry and cattle projects for shares in the company.
The restructure will allow Great Southern to become a far more robust and diversified company, Great Southern managing director Cameron Rhodes said.
"We will be an integrated forestry business and have additional revenue and cash flows from both forestry and cattle to complement our existing tax effective MIS business," he said.
Great Southern plans to hold meetings in mid to late October to formalise the proposed transactions with its stakeholders, Rhodes said.
"By the end of October, if all the proposals are successful, then Great Southern will own all of those interests in those projects and effectively complete this transformational proposal."
As part of Great Southern's focus to reduce costs, more than 50 job cuts have also been made since July, Rhodes said.
"That has predominantly been in our sales and marketing area and it is just part of the process as we restructure our business, to have the appropriate level of resources and costs for our new business moving forward."
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