AUDITED CONDENSED CONSOLIDATED FINANCIAL ... - AFGRI

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6 Appendix Long-term debt facility • Long-term funding facility with silo’s as collateral • Financing facility – not a sale • R1.5 billion term loan with Land Bank (3, 5, 7 year tranches) • Convert short-term loans to long-term facilities • Rationale: • Reduce liquidity risk • Avoid extensive raising fees • Limit mismatch between assets and liabilities • Certain silo’s are ring fenced in a SPV • No bunker facilities are included in the transaction • AFGRI has option to add more silo’s to the transaction • Costs will be capitalised and amortised over life of loan • A further transaction to improve gearing Rationale is to have in place a long-term funding programme for AFGRI (long-term debt paper programme) with silo’s as collateral 54 page 42 Audited condensed consolidated financial results for the year ended 30 June 2012 and cash dividend declaration
Long-term debt facility (cont) Selected AFGRI silo’s used as collateral Selected AFGRI silo’s at market value of R2.4 bn Loan:value ratio 70% AFGRI has agreement with Land Bank on the transaction to the value of R1.5 bn Funded as follows: • R500m in 3 years • R500m in 5 years and • R500m 7 years 55 Influences – Agri Services Division Retail John Deere franchise Equipment Influence • Commodity price • Retail margins • Farmer balance sheet • Size of crop • Commodity price • Farmer balance sheet • Size of crop • Commodity price • Farmer balance sheet • Size of crop 56 page 43 Audited condensed consolidated financial results for the year ended 30 June 2012 and cash dividend declaration
Page 1 and 2: AUDITED CONDENSED CONSOLIDATED FINA
Page 3 and 4: OUR RESULTS AT A GLANCE Revenue fro
Page 5 and 6: The lower interest rates and the sa
Page 7 and 8: BUSINESS SEGMENT RESULTS (R’milli
Page 9 and 10: OTHER Corporate BEE SPVs Inter-grou
Page 11 and 12: Group income statements (R’millio
Page 13 and 14: GROUP STATEMENT OF CHANGES IN EQUIT
Page 15 and 16: (Cents) 4. Reconciliation of headli
Page 17 and 18: RESULTS PRESENTATION page 15 Audite
Page 19 and 20: 1 Overview Financial highlights All
Page 21 and 22: 2 Segmental overview Agri-Services
Page 23 and 24: Import and export price parity PRIC
Page 25 and 26: Grain Management • Improved silo
Page 27 and 28: The retail transaction Equipment Pa
Page 29 and 30: Agri-Services segment Revenue (R’
Page 31 and 32: Unigro • Successful implementatio
Page 33 and 34: Foods segment - overall environment
Page 35 and 36: Poultry imports - chicken & turkey
Page 37 and 38: Animal Protein segment vs maize pri
Page 39 and 40: Consolidated balance sheet Descript
Page 41 and 42: Prospects • Agri-Services • Ret
Page 43: Maize price influences 3100 2900 Hi
Page 47 and 48: Influences - Foods Division Poultry
Page 49 and 50: NOtes page 47 Audited condensed con
Page 51 and 52: BASTION GRAPHICS

AUDITED CONDENSED CONSOLIDATED FINANCIAL ... - AFGRI

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