This document (the “Document”) has been prepared by SunVale Citrus Global (Pty) Ltd (“SunVale” or the “Company”) solely to provide information to the Industrial Development Corporation, the Department of Trade, Industry and Competition, the Land and Agricultural Development Bank of South Africa, and prospective co-investors and shareholders (together, “Recipients”) in connection with the proposed R2.85 billion expansion of the Company’s integrated citrus operations (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, for any purpose without the prior written consent of the Company.
Forward-looking statements
This Document contains forward-looking statements relating to the Company’s expansion programme, operations and prospects. These reflect management’s current expectations and are subject to risks and uncertainties — including agricultural, market, export, currency, regulatory and execution factors, that may cause actual outcomes to differ materially. Citrus is a biological, seasonal and weather-exposed crop, and newly established orchards require several years to reach full bearing; projected volumes and yields should be read with that in mind. Nothing herein constitutes a guarantee of future performance.
Independent re-underwriting
NoteHow to read the numbers in this Document
Management’s sponsor projections for revenue and EBITDA have been preserved. All figures below EBITDA, depreciation, financing costs, taxation and net profit, together with the debt-service coverage, gearing and returns analysis, have been independently re-derived on a conservative basis to give lenders and investors a bankable view. Where this independent analysis differs from, or adds to, the sponsor’s summary figures, the differences are surfaced explicitly in the callout boxes throughout this Document 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.