News - SLM Corporate

05 Sep

SLM Corporate advises the Northern Land Council and traditional native title holders on a giant prawn farm project ILUA in the Northern Territory

We are delighted to have acted as economic and financial advisers to the Northern Land Council and traditional native title landowners in the negotiation of a long term Indigenous Land Use Agreement covering all phases of development and production of the $2 billion Sea Dragon prawn farm on Leguna Station, near Kununurra, East Kimberley.  When completed, the project sponsor Seafarms Group (ASX: SFG) will be the largest tiger prawn producer in the world, generating significant financial and other benefits to traditional owners.

SLM’s role included a detailed economic assessment of the project, economic modeling, benchmarking and advice on royalties and other financial benefits to the traditional native title landowners, assistance with the negotiations, and the drafting of the relevant financial benefits clauses in the ILUA.

Our indigenous economic advisory practice has enjoyed a busy 12 months, with a number of significant engagements, including advice to the Kokatha Aboriginal Corporation on Oz Minerals’ Carrapateena Project, advice to the Wajarri Yamatji on the Commonwealth Square Kilometre Array Project, advice to the Central Land Council on the Lake Mackay Gold and Base Metals Project and advice to Taungurung Association on its compensation negotiations with the State of Victoria.

For further information, please call Barry Lewin on 03 92449644.

28 Aug

SLM Corporate acts as Corporate Adviser to ASX-listed toy and family lifestyle goods distributor Funtastic Limited in relation to a $8.2 million capital raising.

SLM Corporate is pleased to announce that it has acted as Corporate Adviser to ASX-listed toy and family lifestyle goods distributor Funtastic Limited in relation to a $8.2 million capital raising.

The capital raising was conducted as a partially underwritten pro-rata renounceable entitlement offer, and in conjunction with a restructuring of the company’s debt facilities, will return the company to a more sustainable and stable financial position and provide it with the balance sheet capacity and flexibility to pursue new growth opportunities.

SLM’s role as Corporate Adviser encompassed provision of transaction structuring and pricing advice through to preparation of ASX presentation and disclosure materials and overall project co-ordination.

For further information, please contact SLM Director Eugene Tong

03 Jul

SLM advises YUM! Brands and its Australian subsidiary KFC on a significant store divestment program in Australia

SLM is pleased to have advised YUM! Brands and its Australian subsidiary KFC on the divestment of a significant number of company owned stores in Australia to a range of existing franchisees.  This project was part of a global store divestment initiative for YUM!

Collins Food Group was a major buyer, acquiring 28 of these stores for $110 million.

For further information please contact SLM Managing Director Barry Lewin.

15 Jun

Majority of Spicers security holders (98%) vote in favor of the capital restructure

Spicers (ASX:SRS) security holders vote to approve the Proposal to unify and simplify the capital structure, with overwhelming majorities (98% of ordinary shareholders and 99% of SPS unitholders)

SLM is pleased to advise that it has acted as Corporate Adviser to Spicers Limited in relation to a Proposal to simplify Spicers capital structure.  Under the Proposal, Spicers will acquire SPS Units that it does not already own, in exchange for the issue of Spicers ordinary shares as consideration.  This Proposal resolves a long-standing intractable problem of finding an acceptable resolution, which has stood in the way of the unification and simplification of the Spicers capital structure.

At general meetings held by SPS unitholders and ordinary shareholders on 15 June 2017, both sets of holders approved the Proposal with overwhelming majorities (98% of ordinary shareholders and 99% of SPS unitholders).  These approvals represent a critical milestone towards the successful implementation of the proposed Trust Scheme, which is expected to occur in late June following a customary second court hearing and suspension of ASX trading of SPS units.

Prior to SLM’s engagement, there had been several years of protracted negotiations between Spicers and SPS unitholders and several unsuccessful attempts by both parties to agree on and pursue a re-organisation of Spicers’ capital structure.  SLM was appointed by Spicers in late October 2015 to assist in devising, negotiating and implementing a mutually acceptable transaction that would finally deliver a resolution to this issue.  This has culminated in the current Trust Scheme.

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