Announcement • Apr 13
Sandon Capital Investments Limited (ASX:SNC) agreed to acquire Carbon Conscious Investments Ltd. Sandon Capital Investments Limited (ASX:SNC) agreed to acquire Carbon Conscious Investments Ltd. for AUD 11.6 million on April 12, 2024. The transaction is expected to close on June 6, 2024. Announcement • Mar 07
Alterra Limited (ASX:1AG) announces an Equity Buyback. Alterra Limited (ASX:1AG) announces a share repurchase program. Under the offer, the company will repurchase its own shares. The repurchase will be made from shareholders who holds company's shares with a value of AUD 500 or less. The shares will be repurchased at no more than AUD 0.006 per share. The record date for the buyback is March 1, 2024. The offer will be valid till April 19, 2024. Announcement • Jan 25
Alterra Limited, Annual General Meeting, Feb 28, 2024 Alterra Limited, Annual General Meeting, Feb 28, 2024, at 10:00 W. Australia Standard Time. Location: Level 9, 150 St Georges Terrace Perth Western Australia Australia Agenda: To consider Financial Statements and Reports; to consider Remuneration Report; to consider Re-election of Director Mr Paul Jensen; to consider Re-election of Director Mr Andrew Young; to consider Re-election of director Mr Gregory Harvey; and to transacts such other business matters. New Risk • Dec 24
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 19% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Revenue is less than US$1m (AU$335k revenue, or US$228k). Market cap is less than US$10m (AU$5.83m market cap, or US$3.96m). Minor Risk Shareholders have been diluted in the past year (19% increase in shares outstanding). Board Change • Dec 20
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 new directors. 2 experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Founding Member & Chair of Advisory Board John Poynton is the most experienced director on the board, commencing their role in 2019. Independent Chairman & Company Secretary Mark Clements was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Announcement • Dec 08
Alterra Limited has filed a Follow-on Equity Offering in the amount of AUD 1.393105 million. Alterra Limited has filed a Follow-on Equity Offering in the amount of AUD 1.393105 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 38,543,537
Price\Range: AUD 0.008
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 135,594,600
Price\Range: AUD 0.008
Transaction Features: Rights Offering New Risk • Nov 30
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$4.6m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$4.6m free cash flow). Revenue is less than US$1m (AU$335k revenue, or US$221k). Market cap is less than US$10m (AU$5.57m market cap, or US$3.68m). Announcement • Jul 25
Alterra Limited Announces the Resignation of Ben Norrish as Chief Operating Officer, Effective at the End of August 2023 Alterra Limited announced that Mr. Ben Norrish, Chief Operating Officer of the company has resigned from the Company and will end his role effective at the end of August 2023. Mr. Norrish successfully delivered the Stage 3 planting program alongside a highly effective operational team led by DuncanWells and supported by local contractors and suppliers. The program added an additional 85ha of avocados to the Carpenters Project and established leading horticultural practices to the management of the new and existing orchards. The departure of Mr. Norrish coincides with the Company's focus on optimising the cost structure of the Carpenters Project as the Company commences the Stage 4 development, for which preparation work is already underway and will be continued to be managed by the existing operational team. Reported Earnings • May 30
First half 2023 earnings released: AU$0.001 loss per share (vs AU$0.005 loss in 1H 2022) First half 2023 results: AU$0.001 loss per share (improved from AU$0.005 loss in 1H 2022). Net loss: AU$1.04m (loss narrowed 26% from 1H 2022). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings. Announcement • Jan 09
Alterra Limited, Annual General Meeting, Feb 28, 2023 Alterra Limited, Annual General Meeting, Feb 28, 2023, at 10:00 W. Australia Standard Time. Announcement • Dec 22
Alterra Ltd Announces Planting Milestone Achieved At Carpenters Alterra Ltd. announced that it has now reached and surpassed 20,000 trees in the ground at the Company's 100% owned Carpenters Project in Western Australia's south-west (Carpenters). This milestone has been passed during the Stage 3 program that commenced last month and is expected to complete in March 2023. In total, approximately 48,000 trees are scheduled to be in the ground at the end of Stage 3, covering up to 85 hectares of Hass avocado trees. This adds to the existing Stage 1 (5 ha) and Stage 2 (7 ha) avocado orchards planted in prior seasons at Carpenters. The significant uplift from the Stage 3 program will mean Carpenters will have close to 100ha of trees. The first production contribution is expected to come from the Stage 1 trees in the 2023/24 harvest. Previous delays from adverse weather conditions have largely been overcome with minor rescheduling to the planting program. This has resulted in the maintenance of the original March 2023 completion date. The Company will continue to monitor weather conditions and adjust the planting schedule if required. In addition to the planting milestone, there has been significant progress with the installation of key infrastructure on site as Carpenters establishes itself as a large scale operation. Reported Earnings • Dec 01
Full year 2022 earnings released: AU$0.004 loss per share (vs AU$0.01 loss in FY 2021) Full year 2022 results: AU$0.004 loss per share (improved from AU$0.01 loss in FY 2021). Net loss: AU$1.50m (loss narrowed 33% from FY 2021). Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 32% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 02
First half 2022 earnings released First half 2022 results: Net income: (up AU$2.07m from 1H 2021). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 37% per year, which means it is significantly lagging earnings. Announcement • May 09
Alterra Limited Updates Feasibility Model Demonstrates Strong Economics Alterra Limited announced it has completed a review of financial feasibility modelling completed in 2021 ("Initial Feasibility") on the 100% owned Carpenters Avocado Project ("Carpenters"). The updated financial feasibility modelling underscores the strong and robust economics of the Carpenters Project. The Carpenters Project is Alterra's 100% owned avocado development project located in Western Australia's south- west, in the premium horticultural corridor between Pemberton and Manjimup - a region highly regarded for its favourable climate, reliable rainfall, excellent Karri-loam soils, and quality water. Alterra considers the site highly suited to avocado production with potential for up to or in excess of 200ha of planted avocado orchard, which once developed will likely be one of Australia's contiguous avocado projects in Australia. The Carpenters site, encompassing a total of 700ha, possesses significant water storage potential including two distinct dam sites, and is held in a 30 + 10 + 10 year lease executed in April 2020 by a wholly owned subsidiary of Alterra. On 29 July 2021, the Company engaged leading investment management and corporate advisory firm, Pendulum Capital Pty Limited (Pendulum) to project manage the planting program for Stage 2 of the Project. On 21 August 2021, the Company announced that the Board and the technical team had worked alongside Pendulum to develop a strategy to optimise development plans for the Project with a strict focus on costs whilst managing site conditions to ensure the long- term performance and sustainability of the Project. On 31 December 2021 highly experienced agribusiness executive and investor Greg Harvey was appointed Executive Director of the Company and in March 2022 Ben Norrish, who was previously the General Manager of Jasper Farms (AustOn Group, OTTP), Western Australia's avocado producer and has extensive expertise and experience in large- scale avocado orchard development and operations in WA, commenced as Chief Operating Officer of the Company. Higher density plantings, High performance micro-sprinklers in line with industry standards in the district, Reduced spring 2021 planting to approximately 7ha (circa 5,000 trees) due to heavy rain on site over winter, bringing the total planted area to approximately 12ha, Enhanced drainage and infrastructure on site to service growth in 2022 and beyond, Commencing reparations to plant up to 50,000 trees across 85ha in spring 2022. The Carpenters project will be serviced by a major dam currently under construction (Dam 1). Dam 1 construction continues to advance, albeit progress slowed owing to labour constraints and unseasonably heavy rainfall interrupting the construction schedule in 2021. Construction is funded entirely by the Lessor. Announcement • Jan 28
Alterra Limited, Annual General Meeting, Feb 28, 2022 Alterra Limited, Annual General Meeting, Feb 28, 2022, at 10:00 W. Australia Standard Time. Location: Level 3, 150 St Georges Terrace Perth Western Australia Australia Agenda: To consider Remuneration Report; to consider Re-election of Director Mr John Palermo; to consider Election of Director Mr. Mark Clements, Mr. Greg Harvey; to consider Ratification of Prior Issue of Shares under Listing Rule 7.1; to consider Ratification of Prior Issue of Shares under Listing Rule 7.1A; to consider Approval of Issue of Options to Mr. Mark Clements; and to consider Approval of 10% Placement Facility. Reported Earnings • Dec 01
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: AU$0.01 loss per share (vs AU$0.01 loss in FY 2020). Net loss: AU$2.22m (loss widened 47% from FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings. Announcement • May 15
Alterra Limited has completed a Follow-on Equity Offering in the amount of AUD 1.852212 million. Alterra Limited has completed a Follow-on Equity Offering in the amount of AUD 1.852212 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 46,305,303
Price\Range: AUD 0.04
Transaction Features: Subsequent Direct Listing Announcement • Feb 01
Alterra Ltd Announces Board Changes Alterra Ltd. announced the appointment of Mark Clements as an independent Non-Executive Director to the Alterra Board, effective immediately. Mr. Clements has also been appointed as Alterra's Company Secretary. Mr. Clements has more than 20 years' experience in capital management, finance, financial reporting, corporate strategy and governance, having worked for ASX companies across a range of industries. He takes over as Alterra's Company Secretary from John Palermo, who remains a Non-Executive Director of the Company. Executive Departure • Feb 01
Non-Executive Director has left the company On the 29th of January, Trevor Stoney's tenure as Non-Executive Director ended after 10.5 years in the role. As of September 2020, Trevor personally held 24.92m shares (AU$1.2m worth at the time). A total of 3 executives have left over the last 12 months. Announcement • Jan 29
Alterra Limited Does Not Re-Elects Trevor Stoney as Director Alterra Limited at its Annual General Meeting held on 29 January 2021, Mr. Trevor Stoney was not re-elected as Director of the company. Reported Earnings • Dec 24
Full year 2020 earnings released: AU$0.01 loss per share Full year 2020 results: Net loss: AU$1.51m (loss narrowed 16% from FY 2019). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Dec 01
Full year 2020 earnings released: AU$0.01 loss per share Full year 2020 results: Net loss: AU$1.51m (loss narrowed 16% from FY 2019). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 21
Alterra Limited announced that it has received AUD 1.722216 million in funding from Emanuel Exports Pty Limited, Sandon Capital Pty Ltd. Alterra Limited (ASX:1AG) announced a private placement of 34,444,321 common shares at a price of AUD 0.05 per share for gross proceeds of AUD 1,722,216.05 on September 16, 2020. The transaction involved participation from new investor Emanuel Exports Pty Limited for 27,828,870 shares for AUD 1,391,443.5, existing investor Sandon Capital Pty Ltd., Trevor Stoney, director and Colleen Stoney for a total of 1,000,000 shares, and Andrew McBain, director, for 2,051,000 shares. Emanuel Exports Pty Limited owns 15.02% stake and Sandon Capital Pty Ltd. will continue to maintain its 19.2% stake, and Andrew McBain holds 12,418,188 shares for 6.7% stake in the company. The issue price represents a 2% discount to the company's closing share price on September 11, 2020. The price represents a 9.2% discount to the 10-day volume-weighted average price of AUD 5.51. The shares are subject to a hold period. The transaction has been approved by the board of directors of the company. 