Appendix B: Conditions Precedent to the Seed Subscription

Jump to section

• Overview & contents
• 1. Executive Summary
• 2. Investment Thesis
• 3. Company and Business Overview
• 4. Problem, Customer Need and Value Proposition
• 5. Products and Services
• 6. Industry Analysis
• 7. Market Analysis
• 8. Customer Analysis
• 9. Market and Competitive Landscape
• 10. Business Model
• 11. Go-to-Market Strategy
• 12. Operating Model
• 13. Management and Organisation
• 14. Strategic Plan
• 15. SWOT Analysis and Strategic Implications
• 16. Risk Analysis
• 17. ESG and Sustainability
• 18. Implementation Roadmap
• 19. Financial Model and Revenue Build
• 20. Projected Income Statement
• 21. Projected Balance Sheet
• 22. Projected Cash Flow
• 23. Capital Expenditure and Working Capital
• 24. Funding Requirement and Structure
• 25. Break-Even Analysis
• 26. Investment Case and Returns
• 27. Debt Serviceability
• 28. Sensitivity and Scenario Analysis
• 29. Key Performance Indicators and Management Dashboard
• 30. Conclusion
• A. Appendix A: Assumption Register
• B. Appendix B: Conditions Precedent to the Seed Subscription
• C. Appendix C: Glossary

1. Land and water. Executed leases over both blocks with renewal options, and verified water use entitlements sufficient for the FY2029 planted area.
2. Planting stock. Secured supply of certified planting stock for the first season, with phytosanitary documentation and a cultivar trial result supporting the yield assumption.
3. Trade-remedy opinion. Written confirmation of the current status, level and expiry of the anti-dumping measure on Chinese-origin garlic, and of any pending review.
4. Retail engagement. Written indication of interest from at least one national retail group covering the intended programme volume and pack format, conditional on packhouse certification.
5. Management. Chief executive and operations director appointed or under signed offer.
6. Term facility. Credit-approved facility agreement for the R14.0m agricultural loan, or a revised equity quantum reflecting its absence.
7. Governance. Memorandum of incorporation, shareholders agreement, board charter and employee share trust deed adopted.