Australian Rural Capital Limited (ASX:ARC) agree to acquire a 40% stake in Merewether Capital Management Pty Ltd for AUD 0.2 million on August 12, 2021. Merewether Founder Luke Winchester (through his related entities) will own the remaining 60% of the issued share capital in Merewether. ARC will provide Merewether with a working capital facility of AUD 0.15 million on a 2-year term with no interest payable. The transaction is being funded from existing cash reserves. As part of their new strategy, ARC will look to change the name and refresh the brand and logo of ARC. Merewether will be managed and operated by Luke Winchester as Managing Director and Chief Executive Officer and he has entered into an employment agreement with Merewether. The initial directors of Merewether will be Harley Grosser, ARC Managing Director, and Luke Winchester.

Australian Rural Capital Limited (ASX:ARC) completed the acquisition of 40% stake in Merewether Capital Management Pty Ltd on June 30, 2022.