Ricegrowers Ltd. Class B · ASX:SGLLV

Ricegrowers Ltd. Class B — Shareholder Meeting (May 2009)

15 slides from Ricegrowers Ltd. Class B's shareholder meeting presentation, May 14, 2009

  1. Slide 1: Special General Meeting

    Special General Meeting 14 May 2009

  2. Slide 2: Introduction

    Introduction

  3. Slide 3: Apologies

    Apologies

  4. Slide 4: SGM Agenda

    SGM Agenda • Overview – Constitutional Change – RMB Equity Conversion – Conversion Benefits • Vote • Closure 4

  5. Slide 5: Overview

    Overview

  6. Slide 6: RMB Equity Conversion Proposal

    RMB Equity Conversion Proposal • SunRice is considering a proposal to enable RMB Equity Certificate Holders to convert their equity into B Class Shares. • The voluntary proposal would form part of a broader capital raising offer. • Only existing shareholders, approved entities and employees can be i

  7. Slide 7: Why is a change in constitution needed?

    Why is a change in constitution needed? • Approx $77 million of RMB Equity is outstanding. • Approx $4 million is held by a group who are not current shareholders. • A change in constitution is required to allow these equity holders to participate in the scheme. 7

  8. Slide 8: How will the RMB Equity Conversion work?

    How will the RMB Equity Conversion work? • RMB Equity Holders will be able to convert all of their equity into a combination of Cash and tradeable B Class Shares. In principle: – All equity must be converted to participate. – The cash component will represent 10% of the RMB Equity held. – The remain

  9. Slide 9: How will the cash component be calculated?

    How will the cash component be calculated? • The 10% cash component represents an early repayment on maturing RMB Equity (2010 – 2016). • It will be discounted to reflect the time value of money. • This means other than for equity maturing in June 2009, the payment of the 10% cash component will be

  10. Slide 10: How will the B Class Shares be issued?

    How will the B Class Shares be issued? • The remaining 90% of the RMB Equity held will be used to purchase B Class Shares. • Shares will be issued at variable prices. • This compensates for RMB Equity - which is non interest bearing and repayable in the period to June 2016 - being exchanged for B Cl

  11. Slide 11: Conversion Benefits

    Conversion Benefits • For shareholders, the proposal releases non- interest bearing equity to deliver: – An upfront cash payment. – Tradeable (NSX) shares. – Entitlement to any dividends declared for 08-09 year. – Entitlement to any subsequent dividends declared in future years. – Investment in SunR

  12. Slide 12: Capital Raising Prospectus

    Capital Raising Prospectus • A broader capital raising offer is proposed allowing eligible shareholders to apply for B Class Shares via: – RMB Equity Conversion Proposal. – Rice Bonds. – Cash. • A prospectus and independent expert’s report will be provided. 12

  13. Slide 13: Changes to Constitution

    Changes to Constitution • The proposed changes to the constitution would enable ALL RMB Equity Holders to be issued with B Class Shares and to participate in the conversion proposal outlined. • These changes are recommended by the SunRice Board. 13

  14. Slide 14: Vote

    Vote

  15. Slide 15: Closure

    Closure

Ricegrowers Limited (SunRice) — Shareholder Meeting (May 2009) on 6ix