Lark Distilling Co. Ltd. · ASX:LRK
Lark Distilling — Shareholder Meeting (August 2024)
6 slides from Lark Distilling's shareholder meeting presentation, Aug 30, 2024
Slide 1: Extraordinary General Meeting – Chair Address
ASX ANNOUNCEMENT ASX: LRK 30 August 2024 Extraordinary General Meeting – Chair Address Let me say upfront that I am honoured to be Chair of Lark Distilling Co. Ltd (“Lark” or the “Company”), having assumed the role in January, and thank my fellow Directors for their support. Before I ask our Chief E
Slide 2: H1 FY24 Results - LARK Distilling Co.
For personal use only H1 FY24 Results - LARK Distilling Co. Net sales of $14.0 Operating EBITDA of $(2.8) Whisky bank of 2.5 million1 in line with prior million million litres* market update2 underwriting future (down $3.1m on FY23) sales growth Gross margin of 68% Impact of legacy indirect Chinese
Slide 3: Overview of Seppeltsfield Strategic Partnership
For personal use only • Formal long-term barrel supply agreement with Seppeltsfield Wines Pty Limited, an entity associated with Lark Director, Warren Randall • Partnership will secure access to premium oak barrels for Lark, formalising first right of use and exclusivity arrangements to provide cert
Slide 4: Equity Raise and Use of Funds
(cont’d) For personal use only Equity raising of ~$25m comprising a ~$15m conditional placement, ~$6.5m institutional placement and a Share Purchase Plan: • Institutional placement completed on 30th July, with new shares issued on 2nd August. Equity Raise • Share Purchase Plan almost 5X oversubscrib
Slide 5: Strategic priorities
For personal use only . LARK will build a globally Creation of repeatable and diversified recognised and differentiated (geography and channel) revenue luxury brand streams . LARK will prioritise cash generation to underpin growth while exercising capital discipline 4 4
Slide 6: Key achievements and progress
. For personal use only • Continued awards recognition & brand partnerships . • Innovation to drive halo and brand equity • Commenced work on portfolio restage, including appointment of creative design agency • Asian export strategy progress, Distributors appointed with initial sales of $0.9m in H2