APA FINANCIAL SERVICES LIMITED - ABOUT THE COMPANY
APA Financial Services Limited ABN 36 057 046 607 (APA) is listed on the ASX with the stock code “APP”.
Prior to its ASX listing in 2006, APP undertook a capital raising to provide funding for the continued development of a portfolio administration platform for use by the financial advisory community.
During 2008 -2010 the business and administration platform were sold to Sydney based OneVue Holdings Limited for direct equity in the OneVue Group, which recently listed on ASX in July 2014.
Since 2010, the Directors of APA Financial Services Limited have investigated several potential investment opportunities for the Company as a listed entity and in late 2012 commenced an assessment of opportunities in the Australian Dairy industry.
On 1 August 2014, the Directors lodged a Notice of Meeting of Shareholders (Meeting Booklet) with ASX and ASIC for a meeting of shareholders of APA to be held on 1 September 2014 to consider changes to the business activities and structure of the Company; to change its name to Australian Dairy Farms Limited and to enter the Australian Dairy Industry as a dairy farmer.
Assuming the changes are approved by APA Shareholders, and subject to ASX approval, the Group will be listed under the ASX code “AHF”. The broad strategy for the restructured Group is as follows:
Australian Dairy Farms Group is proposing to enter the Australian dairy industry as a farm owner and operator to produce fresh milk for sale to milk processors.
The Group intends to progressively aggregate dairy farms in prime dairy producing regions of Victoria and over time become a major and profitable supplier of milk.
The Group will be structured as a Stapled Security comprising one share in Australian Dairy Farms Limited and one unit in Australian Dairy Farms Trust.
The Group lodged a Prospectus and Product Disclosure Statement (Offer Document) with ASX and ASIC on 20 August 2014 and proposes by this to raise up to $14.5 million in new capital by the Offers of Stapled Securities. Bell Potter is the Lead Broker to the Offers and at the time of lodgement had received firm commitments of $8.5 million from sophisticated investors.
Information about the financial background to the company can be downloaded from the ASX website under code APP. The link for the site is ASX.