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

  1. :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

  1. 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.
  2. 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.