only 27 JANUARY 2022
useDIRECTORS
ASX CODE: MPX
Mr Nicholas Zborowski
Executive Director
Mr Anthony Ho
Non-Executive Director
Mr Jack Spencer-Cotton
Non-Executive Director
COMPANY SECRETARY
Joan Dabon
CAPITAL STRUCTURE
Ordinary Shares: | 142.2M |
Options: | 16.5M |
personalCOMPANY ENQUIRIES | |
Nicholas Zborowski | |
Executive Director |
15 McCabe Street
N | rth Fremantle WA 6159 |
T | : +61 8 9386 7069 |
For | |
E | :info@mustera.com.au |
- :www.mustera.com.au
QUARTERLY ACTIVITIES REPORT
FOR 31 DECEMBER 2021
Mustera Property Group Ltd (Mustera or the Company) is pleased to provide an update on its operational activities during the December 2021 Quarter (the Quarter).
H I G H L I G H T S
1. Mustera continued with its sales and marketing campaign for the
Company's flagship project, Forbes Residences (Forbes or the
Project)
2. The Company continued with the major earthworks for the Project including piling, bulk excavation, crane installation and raft foundations.
3. The Company finalised the Project funding with the first drawdown occurring in December 2021.
4. Mustera sold the four (4) remaining apartments in its Midland development.
1. Forbes Residences, 10 Forbes Road, Applecross
During the Quarter, significant aspects of the construction were advanced on the Company's flagship project, Forbes Residences. These activities included piling, ground anchor installation and bulk excavation.
The crane foundation was prepared and poured in December 2021 and subsequent to 31 December 2021 the 18-tonne luffing crane was installed and commissioned.
Mustera Property Group Ltd ACN 142 375 522
In addition to the construction activities the Company continued with its sales and marketing campaign for the Project.
Furthermore, the Company reached financial close on Project funding with the first drawdown occurring in December 2021. The Project is now 100% funded.
For personal use only
-
Victoria Quarter, 21 Foundry Road, Midland
During the Quarter, the Company sold the four (4) remaining apartments in its Victoria Quarter project in Midland for $1,707,800. The settlement of these sales was completed in December 2021. - Corporate Commentary Payments to related parties
A description of and explanation for payments to related parties and their associates per Section 6.1 of the Appendix 4C following this Quarterly Activities Report is set out in the table below.
Current | Previous | |
Payments to related parties of the entity and their | Quarter | Quarter |
associates | $A'000 | $A'000 |
Directors' remuneration | ||
Executive Director | 50 | 50 |
Non-Executive Directors | 9 | 60 |
Total Directors' remuneration | 59 | 110 |
Total payments to related parties of the entity and | 59 | 110 |
their associates |
AUTHORISED BY
THE BOARD OF DIRECTORS
2 | P a g e
For personal use only
Rule 4.7B
Appendix 4C
Quarterly cash flow report for entities subject to Listing Rule 4.7B
Name of entity
Mustera Property Group Ltd | |
ABN | Quarter ended ("current quarter") |
13 142 375 522 | 31 December 2021 |
Consolidated statement of cash flows | Current quarter | Year to date (6 | ||
$A'000 | months) | |||
$A'000 | ||||
1. | Cash flows from operating activities | |||
1.1 | Receipts from customers | 1,994 | 2,643 | |
1.2 | Payments for | |||
(a) | research and development | - | - | |
(b) product manufacturing and operating | (4,070) | (6,008) | ||
costs | ||||
(c) | advertising and marketing | (92) | (234) | |
(d) | leased assets | (5) | (10) | |
(e) | staff costs | (93) | (235) | |
(f) administration and corporate costs | (123) | (470) | ||
1.3 | Dividends received (see note 3) | - | - | |
1.4 | Interest received | - | 4 | |
1.5 | Interest and other costs of finance paid | (113) | (231) | |
1.6 | Income taxes paid | - | (4) | |
1.7 | Government grants and tax incentives | - | - | |
1.8 | Other (provide details if material) | - | - | |
1.9 | Net cash from / (used in) operating | (2,502) | (4,545) | |
activities | ||||
2. | Cash flows from investing activities | |||
2.1 | Payments to acquire or for: | |||
(a) | entities | - | (425) | |
(b) | businesses | - | - | |
(c) property, plant and equipment | - | - | ||
(d) | investments | (100) | (3,000) | |
(e) | intellectual property | - | - | |
(f) | other non-current assets | - | - |
ASX Listing Rules Appendix 4C (17/07/20) | Page 1 |
+ See chapter 19 of the ASX Listing Rules for defined terms. |
For personal use only
Appendix 4C
Quarterly cash flow report for entities subject to Listing Rule 4.7B
Consolidated statement of cash flows | Current quarter | Year to date (6 | ||
$A'000 | months) | |||
$A'000 | ||||
2.2 | Proceeds from disposal of: | |||
(a) | entities | - | - | |
(b) | businesses | - | - | |
(c) | property, plant and equipment | - | - | |
(d) | investments | - | 1,350 | |
(e) | intellectual property | - | - | |
(f) | other non-current assets | - | - | |
2.3 | Cash flows from loans to other entities | (1,100) | (1,100) | |
2.4 | Dividends received (see note 3) | - | - | |
2.5 | Other (provide details if material) | - | - | |
2.6 | Net cash from / (used in) investing | (1,200) | (3,175) | |
activities |
3. Cash flows from financing activities
3.1 Proceeds from issues of equity securities
(excluding convertible debt securities) | 1,500 | 7,002 | |
3.2 | Proceeds from issue of convertible debt | - | - |
securities | |||
3.3 | Proceeds from exercise of options | - | - |
3.4 | Transaction costs related to issues of | (168) | (168) |
equity securities or convertible debt | |||
securities | |||
3.5 | Proceeds from borrowings | 5,144 | 5,151 |
3.6 | Repayment of borrowings | (2,64) | (2,640) |
3.7 | Transaction costs related to loans and | (1,096) | (1,096) |
borrowings | |||
3.8 | Dividends paid | - | - |
3.9 | Other (Fund distributions) | (164) | (164) |
3.10 | Net cash from / (used in) financing | 2,577 | 8,079 |
activities |
4. Net increase / (decrease) in cash and cash equivalents for the period
4.1 Cash and cash equivalents at beginning of
period | 1,906 | 421 | |
4.2 | Net cash from / (used in) operating | (2,502) | (4,545) |
activities (item 1.9 above) | |||
4.3 | Net cash from / (used in) investing activities | (1,200) | (3,175) |
(item 2.6 above) |
ASX Listing Rules Appendix 4C (17/07/20) | Page 2 |
+ See chapter 19 of the ASX Listing Rules for defined terms. |
Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B
For personal use only
Consolidated statement of cash flows | Current quarter | Year to date (6 | |
$A'000 | months) | ||
$A'000 | |||
4.4 | Net cash from / (used in) financing activities | 2,577 | 8,079 |
(item 3.10 above) | |||
4.5 | Effect of movement in exchange rates on | - | - |
cash held | |||
4.6 | Cash and cash equivalents at end of | 780 | 780 |
period | |||
5. | Reconciliation of cash and cash | Current quarter | Previous quarter |
equivalents | $A'000 | $A'000 | |
at the end of the quarter (as shown in the | |||
consolidated statement of cash flows) to the | |||
related items in the accounts | |||
5.1 | Bank balances | 780 | 1,906 |
5.2 | Call deposits | ||
5.3 | Bank overdrafts | ||
5.4 | Other (provide details) | ||
5.5 | Cash and cash equivalents at end of | 780 | 1,906 |
quarter (should equal item 4.6 above) | |||
6. | Payments to related parties of the entity and their | Current quarter | |
associates | $A'000 | ||
6.1 | Aggregate amount of payments to related parties and their | 59 | |
associates included in item 1 (director remuneration) |
6.2 Aggregate amount of payments to related parties and their associates included in item 2
Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments.
ASX Listing Rules Appendix 4C (17/07/20) | Page 3 |
+ See chapter 19 of the ASX Listing Rules for defined terms. |
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Mustera Property Group Ltd. published this content on 27 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 January 2022 00:18:04 UTC.