Duxton Farms Limited · ASX:DBF
Duxton Farms — Duxton Broadacre Farms — Shareholder Meeting (November 2020)
25 slides from Duxton Farms's shareholder meeting presentation, Nov 25, 2020
Slide 1: Annual General Meeting
For personal use only DUXTONBROADACREFARMS 25 November 2020 ANNUAL GENERAL MEETING
Slide 2: Disclaimer
DISCLAIMER For personal use only This presentation was prepared by Duxton Capital (Australia) No representation or warranty, either expressed or implied, FINANCIAL DATA Pty Ltd [ACN: 164 225 647; AFSL no. 450218] (“DC Australia”) is provided in relation to the accuracy, completeness or as Investment
Slide 3: Contents
CONTENTS For personal use only The Team Chairman’s Address Operational Update Key Contact Key Resolutions
Slide 4: The Team at Duxton Broadacre Farms
The Team at Duxton Broadacre Farms DUXTON BROADACRE For personal use only ED PETER STEPHEN DUERDEN MARK HARVEY WADE DABINETT Chairman of the Board Non-Executive Director Independent Director/Deputy Chair Independent Director KATELYN ADAMS BRYAN GOLDSMITH MARTIN FLOWER WILL BRENNAN Company Secretary
Slide 5: Director Introduction
Director Introduction DUXTON BROADACRE For personal use only Welcome Dr Amanda Rischbieth PhD FAICD Independent Director • Due to timing of selection, the Company intends to appoint Dr Rischbieth to DBF’s Board on 26 November 2020 and to put forward Dr Rischbieth for election to the board at the nex
Slide 6: Agenda
Agenda DUXTON BROADACRE For personal use only Items of Business Shareholder Participation • Consideration of Financial Reports of the Directors and Auditors • For those entitled to vote at today’s meeting if you have not already done so, please login to the online voting portal as provided in the AS
Slide 7: Chairman's Address
Chairman’s Address DUXTON BROADACRE For personal use only DUXTON BROADACRE FARMS (“DBF”) The Company actively manages an aggregation of broadacre farms in Australia. Risk is mitigated and returns are optimised through ownership of water entitlements (securing water supply), through geographic and co
Slide 8: Chairman's Address: Operating Conditions
Chairman’s Address DUXTON BROADACRE 15% Rainfall Deficiency % For personal use only OPERATING CONDITIONS FY18-FY20 Forbes rainfall difference to 15 year average • Labelled the most intense conditions in recorded history by the Bureau of Meteorology, severe drought conditions continued in FY20 across
Slide 9: Chairman's Address: Key Financials
Chairman’s Address DUXTON BROADACRE For personal use only KEY FINANCIALS FY20 FY19 % Statutory net profit after tax ($1.47m) ($1.11m) (3.2%) Total comprehensive income $1.70m $0.51m 230.7% Net Asset Value (NAV) per share $1.76 $1.71 2.9% Fair Value NAV per share $1.82 $1.76 3.4% Net Tangible Asset (
Slide 10: Chairman's Address: Outlook
Chairman’s Address DUXTON BROADACRE For personal use only OUTLOOK • Compared to the ongoing drought conditions over the last 3 calendar Cumulative Rainfall Forbes (NSW) years, rainfall in 2020 has surpassed the total for any of the 2017-2019 2020 vs. 15 year mean average vs. 2019 drought years; 800
Slide 11: NSW Operational Update
NSW Operational Update DUXTON BROADACRE For personal use only 2019/20 Crop Production 2020/21 Cropping Area COVID RESPONSE OH&S policies put in place and all staff trained Area Yield Production Winter Crop Area Summer Crop Crop (ha) (t/ha) (t) (ha) Area (ha) Minimal impact to operations and supply c
Slide 12: Investment Overview: Livestock Strategy
Investment Overview DUXTON BROADACRE For personal use only LIVESTOCK STRATEGY • In the last year the Company has placed a strategic focus on livestock acquisition and Livestock Segment Contribution to Total Revenue sales to partially offset the drought-affected cropping underperformance; 14% • Throu
Slide 13: NSW Operational Update
NSW Operational Update DUXTON BROADACRE In response to China’s 80.5% tariff on Australia’s For personal use only barley exports, 60% of the original budgeted barley area was pivoted to wheat production, more than doubling the original wheat production area FY20 Winter crops harvested Winter crops pl
Slide 14: SA Operational Update
SA Operational Update DUXTON BROADACRE For personal use only LIVESTOCK Increased no. of breeding ewes by 12% (from FY19-20) In FY20 4,706 lambs were sold for an average price of $182/head Introduced trading cattle (steers), 122 head sold in FY20, currently 118 head on hand Sufficient feed on hand CR
Slide 15: Contents
CONTENTS For personal use only The Team Chairman’s Address Operational Update Key Contact Key Resolutions
Slide 16: Agenda
Agenda DUXTON BROADACRE For personal use only Items of Business Shareholder Participation • Consideration of Financial Reports of the Directors and Auditors • For those entitled to vote at today’s meeting if you have not already done so, please login to the online voting portal as provided in the AS
Slide 17: Item of Business 1: Consideration of Financial Reports
ITEM OF BUSINESS 1: Consideration of Financial Reports of the Directors and Auditors DUXTON BROADACRE Resolution For personal use only To receive and consider the Financial Report, Directors’ Report and Independent Auditor’s Report for the financial period ended 30 June 2020. The relevant documents
Slide 18: Resolution 1: Adoption of Remuneration Report
RESOLUTION 1: Adoption of Remuneration Report DUXTON BROADACRE Resolution For personal use only To consider, and if thought fit, to pass the following resolution as a non-binding resolution: “To adopt the Remuneration Report as contained in the Company’s Annual Financial Report for the financial yea
Slide 19: Resolution 2: Re-election of Director – Wade Dabinett
RESOLUTION 2: Re-election of Director – Wade Dabinett DUXTON BROADACRE Resolution For personal use only To consider and, if thought fit, to pass the following resolution as an ordinary resolution: “Pursuant to Article 49 of the Company’s Constitution and Listing Rule 14.4 and for all other purposes,
Slide 20: Resolution 3: Approval of issue of Equity Securities to Wade Dabinett
RESOLUTION 3: Approval of issue of Equity Securities to Wade Dabinett DUXTON BROADACRE Resolution For personal use only To consider and, if thought fit, to pass the following resolution as an ordinary resolution: “That, for the purposes of Listing Rule 10.11 and for all other purposes, Shareholders
Slide 21: Resolution 4: Approval of issue of Equity Securities to Mark Harvey
RESOLUTION 4: Approval of issue of Equity Securities to Mark Harvey DUXTON BROADACRE Resolution For personal use only To consider and, if thought fit, to pass the following resolution as an ordinary resolution: “That, for the purposes of Listing Rule 10.11 and for all other purposes, Shareholders ap
Slide 22: Resolution 5: Approval of issue of Equity Securities, Listing Rule 7.1A
RESOLUTION 5: Approval of issue of Equity Securities for the purpose of ASX Listing Rule 7.1A DUXTON BROADACRE Resolution For personal use only To consider and, if thought fit, to pass the following resolution as an special resolution: "That, for the purposes of Listing Rule 7.1A and for all other p
Slide 23: Resolution 6: Amendment to the Company's Constitution
RESOLUTION 6: Amendment to the Company’s Constitution DUXTON BROADACRE Resolution For personal use only To consider and, if thought fit, to pass the following resolution as an special resolution: "That, for the purposes of section 136(2) of the Corporations Act, the constitution of the Company be mo
Slide 24: Q&A
For personal use only Q&A DUXTON BROADACRE
Slide 25: Key Contacts
KEY CONTACTS For personal use only Will Brennan Duxton Capital (Australia) Portfolio Manager will.brennan@duxtonam.com +61 8 8130 9500 Bridget Johnson Duxton Capital (Australia) Business Development Bridget.johnson@duxtonam.com +61 8 8130 9500 25
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