For personal use only
28 February 2022
Australian Securities Exchange
20 Bridge Street
Sydney NSW 2000
Amended Appendix 4C and Financing Facilities Corrections
Duxton Broadacre Farms Limited (ASX:DBF) further to Appendix 4C for 31 December 2021 quarter lodged on 31 January 2022, releases an amendment to the Appendix 4C Cash Flow Report.
The attached Appendix 4C reflects a correction to Section 5 of the Cashflow Statement.
For all enquiries, please call Duxton Broadacre Farms on +61 8 8130 9500.
1
7 POMONA ROAD, STIRLING, SA 5152 // PO BOX 785, STIRLING, SA 5152
WWW.DUXTONBROADACRE.COM // (+61) 8 8130 9500
For personal use only
Rule 4.7B
Appendix 4C
Quarterly cash flow report for entities subject to Listing Rule 4.7B
Name of entity | ||
Duxton Farms Ltd | ||
ABN | Quarter ended ("current quarter") | |
45 129 249 243 | 31 December 2021 | |
Consolidated statement of cash flows | Current quarter | Year to date (6 |
$A'000 | months) | |
$A'000 |
1. Cash flows from operating activities
1.1 | Receipts from customers | 3,245 | 5,609 | |
1.2 | Payments for | |||
(a) | research and development | - | - | |
(b) | product manufacturing and operating | (2,887) | (6,170) | |
costs | ||||
(c) | advertising and marketing | (3) | (4) | |
(d) | leased assets | (4) | (53) | |
(e) | staff costs | (424) | (811) | |
(f) | administration and corporate costs | (284) | (2,023) | |
1.3 | Dividends received (see note 3) | - | - | |
1.4 | Interest received | - | - | |
1.5 | Interest and other costs of finance paid | (190) | (368) | |
1.6 | Income taxes paid | - | - | |
1.7 | Government grants and tax incentives | 17 | 82 |
1.8 Other (provide details if material)
(a) | Crop insurance claim | - | 232 |
(b) | Futures contracts as a hedge | (1) | (99) |
against grain price movement | |||
1.9 Net cash from / (used in) operating | (531) | (3,605) | |
activities |
2. Cash flows from investing activities
2.1 Payments to acquire:
(a) | entities | - | - |
(b) | businesses | - | - |
(c) property, plant and equipment | (406) | (1,105) |
ASX Listing Rules Appendix 4C (01/12/19) | Page 1 |
+ See chapter 19 of the ASX Listing Rules for defined terms. |
For personal use only
Appendix 4C
Quarterly cash flow report for entities subject to Listing Rule 4.7B
Consolidated statement of cash flows | Current quarter | Year to date (6 | ||
$A'000 | months) | |||
$A'000 | ||||
(d) | investments | - | - | |
(e) | intellectual property | - | - | |
(f) | other non-current assets | - | - | |
2.2 | Proceeds from disposal of: | |||
(a) | entities | - | - | |
(b) | businesses | - | - | |
(c) | property, plant and equipment | - | 26 | |
(d) | investments | - | - | |
(e) | intellectual property | - | - | |
(f) | other non-current assets | - | - | |
2.3 | Cash flows from loans to other entities | - | - | |
2.4 | Dividends received (see note 3) | - | - | |
2.5 | Other (provide details if material) | - | - | |
2.6 | Net cash from / (used in) investing | (406) | (1,079) | |
activities |
3. Cash flows from financing activities
3.1 Proceeds from issues of equity securities
(excluding convertible debt securities) | (205) | (321) | |
3.2 | Proceeds from issue of convertible debt | - | - |
securities | |||
3.3 | Proceeds from exercise of options | - | - |
3.4 | Transaction costs related to issues of | - | - |
equity securities or convertible debt | |||
securities | |||
3.5 | Proceeds from borrowings | - | - |
3.6 | Repayment of borrowings | (5) | (103) |
3.7 | Transaction costs related to loans and | - | - |
borrowings | |||
3.8 | Dividends paid | - | (1,883) |
3.9 | Other (provide details if material) | - | - |
3.10 | Net cash from / (used in) financing | (210) | (2,307) |
activities |
4. Net increase / (decrease) in cash and cash equivalents for the period
4.1 Cash and cash equivalents at beginning of
period | (2,254) | 3,591 | |
4.2 | Net cash from / (used in) operating | (531) | (3,605) |
activities (item 1.9 above) |
ASX Listing Rules Appendix 4C (01/12/19) | Page 2 |
+ See chapter 19 of the ASX Listing Rules for defined terms. |
For personal use only
Appendix 4C
Quarterly cash flow report for entities subject to Listing Rule 4.7B
Consolidated statement of cash flows | Current quarter | Year to date (6 | |
$A'000 | months) | ||
$A'000 | |||
4.3 | Net cash from / (used in) investing activities | (406) | (1,079) |
(item 2.6 above) | |||
4.4 | Net cash from / (used in) financing activities | (209) | (2,307) |
(item 3.10 above) | |||
4.5 | Effect of movement in exchange rates on | - | - |
cash held | |||
4.6 | Cash and cash equivalents at end of | (3,400) | (3,400) |
period | |||
5. | Reconciliation of cash and cash | Current quarter | Previous quarter |
equivalents | $A'000 | $A'000 | |
at the end of the quarter (as shown in the | |||
consolidated statement of cash flows) to the | |||
related items in the accounts | |||
5.1 | Bank balances | 1,617 | 12 |
5.2 | Call deposits | - | - |
5.3 | Bank overdrafts | (5,017) | (2,266) |
5.4 | Other (provide details) | - | - |
5.5 | Cash and cash equivalents at end of | (3,400) | (2,254) |
quarter (should equal item 4.6 above) | |||
6. | Payments to related parties of the entity and their | Current quarter | |
associates | $A'000 | ||
6.1 | Aggregate amount of payments to related parties and their | 248 | |
associates included in item 1 | |||
6.2 | Aggregate amount of payments to related parties and their | - | |
associates included in item 2 |
Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments
ASX Listing Rules Appendix 4C (01/12/19) | Page 3 |
+ See chapter 19 of the ASX Listing Rules for defined terms. |
Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B
only
7. Financing facilities
Note: the term "facility' includes all forms of financing arrangements available to the entity.
Add notes as necessary for an understanding of the sources of finance available to the entity.
- Loan facilities
- Credit standby arrangements
- Other (please specify)
- Total financing facilities
Total facility | Amount drawn at |
amount at quarter | quarter end |
end | $A'000 |
$A'000 | |
24,350 | 24,350 |
6,000 | 5,017 |
- | - |
30,350 | 29,367 |
For personal use
7.5 | Unused financing facilities available at quarter end | 983 |
7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well.
Westpac Business One Loan (Overdraft 1) $6,000,000: Rate 2.43% maturity at call
Westpac Agri Finance (Facility 1) $14,350,000: Variable Rate 1.96% maturing 12/06/23
Westpac Agri Finance (Facility 2) $10,000,000: Fixed Rate 5.17% maturing 26/10/27
All facilities are secured by mortgages over property and water entitlements. Facilities were revised following the release of security of the Boorala property for the purpose of acquiring West Plains and Lenborough.
8. | Estimated cash available for future operating activities | $A'000 |
8.1 | Net cash from / (used in) operating activities (Item 1.9) | 11,156 |
8.2 | Cash and cash equivalents at quarter end (Item 4.6) | 6,151 |
8.3 | Unused finance facilities available at quarter end (Item 7.5) | 983 |
8.4 | Total available funding (Item 8.2 + Item 8.3) | 7,134 |
8.5 | Estimated quarters of funding available (Item 8.4 divided by | 0.64 |
Item 8.1) |
8.6 If Item 8.5 is less than 2 quarters, please provide answers to the following questions:
1. Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not?
Answer: No, calculating available funding based on a single quarter of operations in a broadacre farming business is going to give volatile results due to the timing of when revenue and expenses fall across the year.
The quarter ending December has had significant input costs attached to sowing and establishing the upcoming winter crop in addition to revenue from the harvest of cotton in June.
The quarter ending March will have revenue from the harvest and sale of the winter crop.
ASX Listing Rules Appendix 4C (01/12/19) | Page 4 |
+ See chapter 19 of the ASX Listing Rules for defined terms. |
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Duxton Broadacre Farms Ltd. published this content on 28 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 February 2022 02:51:01 UTC.