Ricegrowers Ltd. Class B · ASX:SGLLV
Ricegrowers Ltd. Class B — Corporate Update (June 2007)
14 slides from Ricegrowers Ltd. Class B's corporate update, June 2007
Slide 1: SunRice Update
SunRice Update Gerry Lawson, Chairman 4-7 June 2007
Slide 2: Back to Normal - C06: Paddy Delivered
Back to Normal - C06 (May 06 – Apr 07) Paddy Delivered 2,000 Tonnes '000's 1,500 1,000 500 0 98 99 00 01 02 03 04 05 06 07 Crop Years VOLATILITY 2
Slide 3: Back to Normal - C06 (May 06 – Apr 07)
Back to Normal - C06 (May 06 – Apr 07) • Comeback of Australian Rice – 1.04 million tonnes – Boost of confidence to industry and all stakeholders • Rebuilding markets • Utilising operational infrastructure 3
Slide 4: C06 Update
C06 Update • Paddy Return – Latest update issued is $260 • Tracking to forecast due to: – External Trading – Cost containment – Strong brands & relationships 4
Slide 5: World MG Rice Trade Environment
World MG Rice Trade Environment • Global Ending Stocks continue to fall • China remains a low level exporter • California facing an average crop in C06/07 and large plantings are expected for C07/08 • Egypt forecast to maintain current production and exports but prices are firm 5
Slide 6: World Rice Stocks
World Rice Stocks Average Global Consumption > 410 MMT 160 40 35 140 30 Million Tons 120 25 100 20 % 15 80 10 60 5 40 0 1999-00 2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 Ending Stocks Stocks to Use Ratio 6
Slide 7: C07
C07 • Approximately 166,000 tonnes delivered – better than initially forecast • Lowest production since 1965 • Ongoing application of Drought Strategy – Crop carryover (260,000 tonnes from C06) – Cost reduction – Global sourcing • Guaranteed minimum of $320 per tonne Thank you to our 2007 Growers 7
Slide 8: SunRice Business Strategy Review
SunRice Business Strategy Review • CMT & Board analysed and reviewed the business going forward • Australian rice production – 800,000 tonnes – Increased volatility • Developed infrastructure plan • Looked at ways to utilise our grain storage infrastructure • Global sourcing 8
Slide 9: Share Trading to Commence
Share Trading to Commence • SunRice scheduled to list on NSX on 18 June 2007 • NSX - National Stock Exchange – formally known as Newcastle Stock Exchange • To buy or sell B Class Shares on the NSX, you will need to contact a stockbroker who is registered with the NSX • Shareholders registered as at
Slide 10: Capital Raising
Capital Raising • In November 2006 SunRice issued a Prospectus initiating part of 5 YEAR STRATEGY which aims to maximise the conversion of approx $51m of maturing Rice Bonds into permanent capital • Shareholders subscribed to $7.7 million in this initial share – however a total of $42.6m of Rice Bon
Slide 11: Director Elections
Director Elections = a The Rice Food Experts
Slide 12: Election of Directors - Overview
Election of Directors - Overview • Under the Constitution SunRice is required to hold elections for 4 Directors who are A Class Shareholders for a period of 4 years (or such other period as the A Class Shareholders may determine at the AGM) • A person may be elected if they are a Director whose term
Slide 13: Election of Directors – Timetable
Election of Directors – Timetable • Advertisements calling for Nominations - Fri 29 June • Nominations Close - Fri 13 July • Profiles of Candidates - Fri 13 July • Ballot Papers Posted - Fri 20July • Ballot Closes - Tue 21 Aug • Announcement of results & AGM - Fri 24 Aug 13
Slide 14: Election of Directors – Voting
Election of Directors – Voting • A Class Shareholders are able to vote for any number of candidates up to the maximum number of positions to be filled (as per the last election as a Co – operative) • The ballot will be a “secret ballot” conducted by the Returning Officer in accordance with the votin
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