Raise up to ~$3.47mil through the issue of approximately 115.6 million new shares at $0.03 per share (3 cps) via the combination of a placement to eligible investors (“Placement”) as well as a non-renounceable rights issue on a 3 for 10 basis (“Entitlement Offer”).
RLF Agtech Limited (ASX:RLF)
RLF
Lead Manager
Offer Price
A$0.0300
per share
Offer Size
A$1,051,093
Key Offer Details
Issue Price (Per Share)
A$0.0300
Discount
25.00%
Offer Size
A$1,051,093
Shares Available
35,036,442
Use of Funds
Repayment of deferred payables - $0.52M
Australian Sales & Distribution - $0.82M
Capital Expenditure - $0.50M
Corporate & Working Capital - $1.43M
Costs of the Offer - $0.20M
Company Overview
RLF AgTech owns, develops, manufactures, distributes, and sells the RLF plant nutrition products. These products are based on plant physiology and aim to address some of the major issues facing global agriculture.
The company owns 100% of the intellectual property and distributes and sells into a global marketplace. Current revenue generating operations in China, Asia, Queensland and Western Australia as well as a future-focused Carbon business.
The products work through the life cycle of the crop from seed to before harvest and have been proven across multiple independent trials to increase plant yield by 10-30%.
The recent acquisition of LiquaForce and regaining RLF Australian distribution rights will add considerable scale to the business, with forecast revenue in FY25 of A$25M (FY24 was $9.8M).
Documents & Downloads
Indicative Timetable
All times are AEDT unless otherwise stated and are subject to change at the discretion of the Lead Manager and the Company. The above dates are indicative only and may change without notice. The Company reserves the right to extend the Closing Date or close the Offer early without prior notice. The Company also reserves the right not to proceed with the Offer at any time before the issue of Securities. If the Offer is cancelled or withdrawn before completion of the Offer, then all application monies will be refunded in full (without interest) as soon as possible in accordance with the requirements of the Corporations Act. Investors are encouraged to submit their applications as soon as possible after the Offer opens.
Trading Halt and Offer Open
Friday 13th December 2024
Bids Due
12PM, Monday 16th December 2024
Allocations Advised and Offer Letter Issued
4PM, Monday 16th December 2024
Return of Offer Letters to JLMs
9AM, Tuesday 17th December 2024
Announce Rights Issue and Recommend Trading
Tuesday 17th December 2024
Placement Settlement
Monday 23rd December 2024
Record Date
Tuesday 24th December 2024
Board & Management
Don McLay
Non-Executive Chairman
Don is a highly experienced company director, and was Chairman of Credit Corp (ASX:CCP) during which time he presided over a market capitalisation increase from $20 million to in excess of $2 billion.
He is known for his strategic vision, integrity, determination and sound business management, with a key strength in developing new business platforms.
Gavin Ball
Acting Managing Director
Gavin has over 30 years of expertise in the start-up, development, growth and ongoing management of business.
He has a management, financial and accounting skill set with a sales, marketing and commercialisation focus, and throughout his career has operated a diverse range of businesses. These skills bring strength to the Company.
Dr Mike Lu
CEO Asia and Executive Director
Mike has significant management experience in Chinese plant nutrition markets, and holds a PhD in Soil Science and Plant Nutrition.
He has considerable senior level industry experience, including with Cargill Fertilizer Inc. (USA) and its Cargill Tianjin China (US-Sino Joint Venture) operations.
Liza Carpene
Non-Executive Director
Liza’s executive experience encompasses corporate governance, social responsibility, stakeholder engagement, statutory reporting, human resources and day to day operational management, with an emphasis on leading companies through periods of growth and transformational change.
She is a qualified Chartered Secretary with ASX100 experience.
Paul McKenzie
Non-Executive Director
Paul is the Managing Partner of Agrarian Management Consultants to Agriculture, a leading WA consultancy with offices in Geraldton, Perth and Katanning.
He is a Fellow of AICD, past President of the Australian Association of Agricultural Consultants (WA) Inc and a Ministerial Appointee to various agribusiness review and advisory panels.
