This document (the “Document”) has been prepared by Aviana Free Range Poultry Group (Pty) Ltd (“Aviana” or the “Company”) to provide information to prospective equity investors and lenders (“Recipients”) in connection with the proposed R260 million funding of an integrated premium free-range poultry production and distribution platform (the “Project”).
It is furnished on a strictly private and confidential basis and may not be reproduced, redistributed or passed to any other person, in whole or in part, without the prior written consent of the Company.
Forward-looking statements
This Document contains forward-looking statements relating to the Company’s strategy, operations and prospects. These reflect management’s current expectations and are subject to significant risks and uncertainties — including the execution risks inherent in a green-field, capital-intensive agri-processing venture, together with biological, market, feed-cost, disease, regulatory and financing factors — that may cause actual outcomes to differ materially. Poultry is a live-animal, biosecurity-sensitive business, and building an integrated platform from breeder farms through abattoir to retail carries meaningful ramp and execution risk. Projected volumes, revenues and margins should be read with that firmly in mind.
Independent re-underwriting
NoteHow to read the numbers in this Document
Management’s sponsor projections for revenue and EBITDA have been preserved. The financing structure, depreciation, interest, taxation, the balance sheet, cash flow, coverage and returns have been independently derived on a conservative basis, and the sponsor’s own net-profit line has been independently re-underwritten for comparison. Where this analysis differs from, or adds to, the sponsor’s summary figures, including on the adequacy of the R260 million capital base, the differences are surfaced explicitly in the callout boxes rather than smoothed over.
No representation or warranty, express or implied, is given as to the accuracy or completeness of the information contained herein. Recipients should conduct their own independent evaluation and due diligence and obtain their own professional advice. This Document does not constitute investment, legal, tax or financial advice, nor an offer of securities.