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TasFoods Ltd (TFL.ASX) Capital Raising Presentation March 2022

Scott Hadley - Chief Executive Officer Shona Croucher - Chief Financial Officer

Overview

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Business Overview

  • • TasFoods (the Company) is a diversified food business leveraging the natural attributes of Tasmania's agricultural and food production environment to create premium food products.

  • • TasFoods has a strong and loyal customer base in Tasmania and continues to focus on its long-term vision to showcase the State's finest produce to the world.

  • • The company owns a stable of high value food brands in three key product categories - poultry, dairy and horticulture.

Transaction Overview

  • • TasFoods Ltd intends to conduct an equity raising (via a partially underwritten two-tranche placement to institutional, professional and sophisticated investors) to raise $5,500,000 (Placement) to be followed by a share purchase plan offered to the Company's existing shareholders to raise up to a further $500,000 (SPP).

Transaction Rationale

  • • During 2H21 the Company went through a significant period of leadership change at both at the Board and Executive level.

  • • Following this change the Company has undertaken a number of strategic reviews to ensure the business operations are positioned to grow in a sustainable manner.

  • • The new strategy specifically focuses on four key pillars (fortress Tasmania, mainland markets, centre of excellence and adjacent expansion) to ensure the Company can leverage its competitive advantage and realise its potential as a leading branded premium produce group.

  • • The board composition and capabilities will continue to be reviewed to ensure that the skill set, industry experience and tenure of the directors remains appropriate for the business and continues to provide the necessary support and guidance to the new management team as it embarks on the implementation stage of the new business strategy.

Use of Funds

  • • The proceeds of the Equity Raising will be applied to support the implementation of the Company's new strategic direction including general working capital support, connectivity improvements (ERP implementation and business integration), and commercial acceleration initiatives.

Our Brand Portfolio & Customer Channels

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TasFoods New Strategic Focus

From 2022 onwards TasFoods will focus on four key pillars to ensure the Company can leverage its competitive advantage and realise its potential as a leading branded premium produce group

Top 10 Initiatives

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Disclaimer

Tasfoods Ltd. published this content on 31 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 April 2022 01:12:33 UTC.