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.

  1. Loan facilities
  2. Credit standby arrangements
  3. Other (please specify)
  4. 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.