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IAM`s: Merger of IAMA/Wesfarmers completed/App 3B-Acq.of WES

Document date:  Wed 14 Feb 2001
Published:  Wed 14 Feb 2001 00:00:00
Document No:  191617
Document part:  A
Market Flag:  Y
Classification: 

IAMA LIMITED                                  2001-02-14  ASX-SIGNAL-G

HOMEX - Perth                                                         

+++++++++++++++++++++++++
IAMA Limited today announced the completion of the merger of the 
Wesfarmers Dalgety rural business and IAMA Limited occurred today. 
This follow the vote in favour of the merger by IAMA shareholders at 
the IAMA AGM on Friday 9th February.

The IAMA Board 116,065,210 issued ordinary shares to Wesfarmers Ltd, 
giving Wesfarmers 60% ownership of IAMA Ltd. The Wesfarmers Dalgety 
business has been vended into IAMA Ltd.

Messrs Snell, Kahl, Smith, Curlewis, Crane, Spencer and Warburton have
resigned as directors. Mr Neil Roberts and mr Herman Mani will 
continue as directors.

IAMA today appointed Mr Michael Chaney, Mr Erich Fraunschiel and Mr 
Richard Goyder to the Board. Mr Chaney has been appointed Chairman and
Richard Goyder Managing Director.

IAMA's new Managing Director, Richard Goyder said that the completion 
of the merger represented a significant milestone in Australia 
agribusiness.

FOR FURTHER INFORMATION:

Mr Richard Goyder
MANAGING DIRECTOR
0409 889 234

15/02/2001

                             APPENDIX 3B
                        NEW ISSUE ANNOUNCEMENT

   APPLICATION FOR QUOTATION OF ADDITIONAL SECURITIES AND AGREEMENT

Information or documents not available now must be given to ASX as
soon as available.  Information and documents given to ASX become
ASX's property and may be made public.

Introduced 1/7/96. Origin Appendix 5. Amended 1/7/98, 1/9/99,
1/7/2000.

Name of Entity
IAMA Limited

ACN or ARBN
008 724 052

We (the entity) give ASX the following information.


PART 1 - ALL ISSUES
You must complete the relevant sections (attach sheets if
there is not enough space).


1. Class of securities issued          Ordinary Shares
   or to be issued                                                  
 
2. Number of securities issued         116,065,210
   or to be issued (if known)                                       
   or maximum number which                                          
   may be issued                                                    

3. Principal terms of the securities   Same as terms of existing
   (eg, if options, exercise price     issued ordinary shares in
   and expiry date; if partly paid     the Company
   securities, the amount                                           
   outstanding and due dates for                                    
   payment; if convertible securities,                              
   the conversion price and dates                                   
   for conversion)                                                  

4. Do the securities rank equally      Yes
   in all respects from the date                                    
   of allotment with an existing                                    
   class of quoted securities                                       

   If the additional securities                                     
   do not rank equally, please                                      
   state:                                                           
   * the date from which they do                                    
   * the extent to which they                                       
     participate for the next                                       
     dividend, (in the case of                                      
     a trust, distribution) or                                      
     interest payment                                               
   * the extent to which they do                                    
     not rank equally, other than                                   
     in relation to the next                                        
     dividend, distribution or                                      
     interest payment                                               

5. Issue price or consideration        1.247 per share (deemed)

6. Purpose of the issue (if            Consideration for the
   issued as consideration for         acquisition of all the issued
   the acquisition of assets,          capital of Wesfarmers
   clearly identify those              Dalgety Ltd
   assets)                                                          

7. Dates of entering securities        14/02/2001
   into uncertified holdings                                        
   or despatch of certificates                                      
                                       
                                      NUMBER  CLASS
8. Number and class of all       214,935,573  Ordinary shares
   securities quoted on                                             
   ASX (including the                                               
   securities in clause                                             
   2 if applicable)                                                 

                                      NUMBER  CLASS
9. Number and class of all                 -  -
   securities not quoted                                            
   on ASX (including the                                            
   securities in clause 2                                           
   if applicable)                                                   

10.Dividend policy (in the case        Same entitlement to dividends
   of a trust, distribution            as existing issued ordinary
   policy) on the increased            shareholders
   capital (interests)                                              

PART 2 - BONUS ISSUE OR PRO RATA ISSUE

Items 11 to 33 are Not Applicable

PART 3 - QUOTATION OF SECURITIES
You need only complete this section if you are applying for quotation
of securities

    Items 34 to 37 are Not Applicable

    Entities that have Ticked Box 34 (b)

    Items 38 to 42 are Not Applicable

ALL ENTITIES

Fees

43. Payment method (tick one)

       Cheque attached

       Electronic payment made
       Note: Payment may be made electronically if Appendix 3B is 
             given to ASX electronically at the same time.
    
       Periodic payment as agreed with the home branch has been 
       arranged
       Note: Arrangements can be made for employee incentive 
             schemes that involve frequent issues of securities.

QUOTATION AGREEMENT

1.  Quotation of our additional securities is in ASX's absolute 
    discretion. ASX may quote the securities on any conditions it 
    decides.

2.  We warrant to ASX that the issue of the securities to be quoted
    complies with the law and is not for an illegal purpose, and that
    there is no reason why those securities should not be granted
    quotation. We warrant to ASX that an offer of the securities for
    sale within 12 months after their issue will not require
    disclosure under section 707(3) of the Corporations Law.

3.  We will indemnify ASX to the fullest extent permitted by law in
    respect of any claim, action or expense arising from or connected
    with any breach of the warranties in this agreement.

4.  We give ASX the information and documents required by this form.
    If any information or document not available now, will give it to
    ASX before quotation of the securities begins. We acknowledge that
    ASX is relying on the information and documents. We warrant that
    they are (will be) true and complete.


P Hepburn 
COMPANY SECRETARY
14/02/2001

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