Rights Issue Offer Document and Investor Presentation
Investor Presentation | 2022
INVESTOR PRESENTATION JUNE 2022
Investor Presentation | 2022
DISCLAIMER
Disclaimer and Important Notice
NOT FOR RELEASE TO US WIRE SERVICES OR DISTRIBUTION IN THE UNITED STATES.
Offer
This presentation has been prepared by Me Today Limited (Me Today) in relation to an offer of new ordinary shares in Me Today
(New Shares) made under clause 19 of Schedule 1 of the Financial Markets Conduct Act 2013 (FMCA).
International selling restrictions
This presentation does not constitute an offer of New Shares in any jurisdiction in which it would be unlawful. In particular, this
presentation may not be distributed to any person, and the New Shares may not be offered or sold, outside New Zealand or
Australia in any jurisdiction where distribution is restricted or prohibited by law or would constitute a breach by Me Today of any law.
Information
This presentation contains summary information about Me Today which is current at the date of this presentation. The informationis
of a general nature and does not purport to be complete nor does it contain all information which a prospective investor may
require in evaluating a possible investment in Me Today or that would be required in a product disclosure statement under the
FMCA. This presentation should be read in conjunction with Me Today’s market releases and other periodic and continuous
disclosure announcements.
2
Investor Presentation | 2022
DISCLAIMER
Not financial product advice
This presentation does not constitute financial product advice or investment advice and is not a recommendation to apply for New
Shares, and has been prepared without taking into account the objectives, financial situation or needs of investors. Before making an
investment decision, you should consider all relevant information having regard to your own objectives, financial situation and needs,
and consult an NZX Firm or solicitor, accountant or other professional advisor if necessary.
Investment risk
An investment in Me Today is subject to investment and other known and unknown risks, some of which are beyond the control ofMe
Today. Me Today does not guarantee any particular rate of return or the performance of Me Today.
Forward-looking statements
This presentation includes certain “forward-looking statements” about Me Today and the environment in which Me Today operates.
Forward-looking information is inherently uncertain and no assurance can be given that actual outcomes will not materially differ
from forward-looking statements. You should not place undue reliance on any forward-looking statements.
Disclaimer
To the maximum extent permitted by law, Me Today and its affiliates, related bodies corporate, directors, officers, partners,
employees, agents and advisers disclaim all liability and responsibility (whether in tort (including negligence) or otherwise) for any
direct or indirect loss or damage which may be suffered by any person through use of or reliance on anything contained in, or
omitted from, this presentation.
3
Investor Presentation | 2022
PRESENTERS
•Senior experience in both public
and private New Zealand
companies.
•Chairman of Turners Automotive
Group.
•Cofounder of The Business Bakery
•Involved previously as Chairman
of 42 Below and Trilogy
International
•Marketing and Management
qualified from the University of
Auckland
•Senior sales and marketing
experience having worked for several
local and global multinationals
•Established the Swisse brand in New
Zealand
•Previously General Manager of
Trilogy
•Chartered Accountant with early part
of career at PriceWaterhouseCoopers
•Involved in the successful
recapitalization of Dorchester Pacific
•Cofounder of The Business Bakery
•Involved previously with other
successful startups 42 Below, Ecoya
and Trilogy International
4
Investor Presentation | 2022
OVERVIEW
•Grant Baker (Chairman):
•Summary of Equity Raising
•Me Today Opportunity
•Me Today Highlights
•King Honey Acquisition Rationale
•King Honey Performance
•Michael Kerr (CEO):
•Me Today Group Business Update
•Financial result to 31 March 2022
•King Honey Operations
•Health & Wellness -what is the opportunity?
•Sales and Marketing update
•International opportunities
•Questions. Email questions to investors@metoday.com
5
Investor Presentation | 2022
Offer size Up to NZ$10 millionif the rights offer is fully subscribed
(including oversubscriptions)
Offer structureA pro-rata privately renounceable rights issue of 1.3 new
shares for every existing share held on the Record Date
(5pm on 10 June 2022) at 1 cents per share
Use of proceedsThe cash raised will be used to:
oenable continued investment in brands
otake advantage of international opportunities
olessen cashflow pressure
ohelp meet the company’s additional working capital
requirements over the next year
Shareholder supportoMTL Securities has agreed to apply for $4.2m (its
entitlement is $3.4m). It has invested $9.95m including
this raise to date.
SUMMARY OF EQUITY RAISING
6
Investor Presentation | 2022
ME TODAY OPPORTUNITY
•The founders identified an opportunity to formulate, brand and
market high quality products in a growth space
•There continues to be an opportunity to build a global health and
wellness brand with New Zealand origins
•We know that people take pride in looking after themselves and their
health and therefore should be proud of the products they purchase
•There is a gap in the market for a brand to launch that sits across
multiple categories
•Additional income stream available through The Good Brand
Company (TGBC)
7
Investor Presentation | 2022
ME TODAY HIGHLIGHTS
For the original Me Today/TGBC business:
•For the 12 months to March 31, 2022, we achieved results in line with our
forecast despite a difficult environment due to COVID-19
•Created a brand from nothing in 2019 to $2.9m in gross revenue in 2022
•Launched in multiple channels, multiple countries, as well as launched
multiple new products
•Work underway to launch Me Today in other new countries e.g., USA
•We are investing ahead of the curve to grow brand and sales
•Proven sustainable high margin business
8
Investor Presentation | 2022
KING HONEY ACQUISITION RATIONALE
•King Honey provides scale to the Me Today Group.
•King Honey produces premium Manuka Honey and premium
Manuka Honey products
•Manuka Honey is a trusted health and wellness ingredient that is
world renowned and from New Zealand
•Access to new markets
•Growth through Me Today range & new product development
9
Investor Presentation | 2022
KING HONEY PERFORMANCE
•Major customer holding high stock levels, impacting expected
order volumes
•Prolonged COVID-19 pandemic impact across many markets and
sales channels
•Recent strong Manuka Honey harvest adding to cashflow draw
•Stock valuation write-downs to reflect pressure on wholesale
market prices
•King Honey operation being structured to right size so it can
become more variable to sales
•Continue to focus on delivering world class quality Manuka Honey
10
Investor Presentation | 2022
BUSINESS UPDATE
•Financial results to 31 March 2022
•King Honey Operations
•Health & Wellness -what is the opportunity?
•Sales and Marketing update
•International opportunities
11
Investor Presentation | 2022
12 MONTH RESULTS TO 31 MARCH 2022
Investor Presentation | 2022
12 MONTH UNAUDITED FINANCIAL PERFORMANCE
12 mnths ended
31 Mar 2022
(unaudited)
12 mnths ended
31 Mar 2021
(audited)
NZ$000NZ$000
Net Revenue7,2161,143
Cost of Sales(4,554)(463)
Gross Profit2,662680
Gross margin %37%59%
Overheads & Expenses
Selling & marketing expenses(3,057)(2,659)
Distribution expenses(539)(97)
Administrative and other operating expenses(4,104)(851)
(7,700)(3,607)
Net finance expense(479)67
Acquisition related costs(368)-
(847)67
Operating loss before revaluations,
impairments and income tax(5,885)(2,860)
Fair value loss on harvested honey(1,149)-
Fair Value loss on biological assets(305)-
Write down of assets held for sale(566)-
Impairment of goodwill(9,900)-
(11,920)-
Loss before income tax(17,805)(2,860)
•The result includes nine months trading of the King Honey business
since acquisition on 30 June 2021, together with the twelve months
trading for the other members of the Me Today Group.
•Revenue for the group was gross $7.59m, net $7.22m and an operating
loss before tax of $5.89m.
•Me Today group gross revenue $2.98m, EBITDA loss $1.81m
•King Honey gross revenue $4.61m, EBITDA loss $1.21m
•Listed company and shared operating costs $1.25m
•In addition to the operating losses, the group incurred extraordinary
non-cash items of $11.92m,
•Goodwill impairment $9.9m
•Accounting loss on current season harvest $1.1m
•Write down of assets on closure of Bee Keeping branches $566k
•Total net loss for the year is $17.81m
13
Investor Presentation | 2022
KING HONEY INVENTORY
•King Honey total gross inventory value at31 March 2022
Adjusted for wholesale market price pressure
Net carrying value at31 March 2022
•Represented by 645 Tonne of Manuka Honey:
•2020/2021 Season 265 T
•2022 Season 380 T
•Accounting treatment for the 2022 harvest requires Manuka Honey to be
valued at wholesale cost at harvest date, the valuation method does not
allow for the growth in honey which will be taken to gross margin on sale. In
addition, gross margin is received by our brands when honey is sold in jars.
•The King Honey acquisition has delivered scale with Me Today Group net
assets of $19.147m at31 March 2022
$18.6m
($3.0m)
$15.6m
14
Investor Presentation | 2022
KING HONEY OPERATIONS
Investor Presentation | 2022
OPTIMISING KING HONEY OPERATIONS
•With significant volume of honey stocks, Me Today Group is optimizing its
Beekeeping operations, reducing cashflow draw
•Closure of Kaitaia, Kerikeri and Blenheim Beekeeping operations, leaving
Wairarapa & Central regions
•Reduction in the number of overall hives
•Strong focus on ensuring a targeted, sustainable and profitable Beekeeping
Operation
•Strategy to have a mixture of own core honey supply and an ability to
purchase on the wholesale market as required.
•Continue to deliver high quality premium Manuka Honey
16
Investor Presentation | 2022
SALES AND MARKETING
Investor Presentation | 2022
HEALTH & WELLNESS -WHAT IS THE OPPORTUNITY?
•In New Zealand we are just starting. We are small but fast growing; the opportunity is much
bigger than where we are at currently.
•Pharmacy Supplements = $172m, growth 20%, Me Today share with small range circa 1%
•Grocery Supplements = $62m, growth 2.5%, Me Today just launching into Grocery now
•Globally -In 2021 –McKinsey & Company estimates the global wellness market was more than
$1.5 trillion, with an annual growth rate of 5 –10 percent predicted
•Consumers care deeply about wellness -and their interest is growing
•79% of respondents from a survey of 7,500 consumers in six countries said that wellness is
important and 42% consider it top priority.
•From the consumers researched there was a substantial increase in the prioritization of
wellness over the past two or three years.
Feeling good: The future of the $1.5 trillion wellness market. McKinsey’s 8
th
April 2021
18
Investor Presentation | 2022
WE HAVE SET THE FOUNDATIONS
•We have developed 3 credible health and wellness brands and want to
continue to grow them
•We have clear & immediate focus on 3 categories:
•Manuka Honey
•Supplements
•Skincare
•We are already available in multiple countries through ~600 retail doors and
have employees in the UK, Europe and the US to facilitate growth
•From a product development perspective, we have grown each range
significantly. Bee+ has ~7 SKU’s, Me Today has 50 SKU’s, and Superlife has 6
SKU’s. We will continue to strategically develop each range
•Continue to build brand value through unique marketingcampaigns
19
Investor Presentation | 2022
INTERNATIONAL HONEY BRANDS
•Bee+: Available through ACG/ABM’s extensive network in:
Australia, New Zealand, Canada and into China
•Superlife: Launched into Superdrug in the UK, on
Amazon.co.uk and now through selected Pharmacy and
Foodstuffs stores in New Zealand, online at
www.superlifemanuka.co.nz, we have orders pending in
Germany, Romania, Sweden and Switzerland
•Me Today: Manuka Honey products are in development now
with interest from retailers and distributors in New Zealand,
Japan and the US
20
Investor Presentation | 2022
•BEE + is a core brand for ABM being one of the first brands
introduced to the VTN platform in 2019
•We have a stronger relationship and increased
communication with borders reopening
•ABM expanding coverage of their operations and keen to
develop new Bee+ markets alongside the Me Today Group
•Tourism and duty-free channels re-opening
•Brand refresh and new product development are key, with
orders expected first half FY23
•Regular ordering of core products to commence in second half
of FY23
BEE + HIVE TO TABLE
21
Investor Presentation | 2022
•Me Today is now available in:
•New Zealand through Chemist Warehouse, Unichem & Life Pharmacy
stores, Bargain Chemist & Countdown stores nationally
•Australia, through Adore Beauty and other online platforms
•UK through Pharmacy & online
•Ireland, 100 Pharmacy stores & launching into Tesco June 22
•Japan, Mash beauty (Biople & Cosme Kitchen stores)
•
Priorities: Build awareness and distribution. Build the range out across
existing categories locally and globally
ME TODAY –SKIN & WITHIN
TWO YEARS ON....ME TODAY, A GROWING BRAND
22
Investor Presentation | 2022
CONTINUE BUILDING BRANDS
23
Investor Presentation | 2022
Offer size andstructureoUp to NZ$10mpro-rata privately renounceable rights issue of 1.3
new shares for every existing share held on the Record Date
(5pm on 10 June 2022). Me Today reserves the right to issue
further shares under the 15% NZX Listing Rule
oEligible shareholders may apply for additional shares under the
Oversubscription Facility
Offer priceo1 cent per new share, representing:
•a75%discount to the last closing price of 4.1 cents
on 27 May 2022
•a61.6% discount to the theoretical ex rights price (TERP)
Shareholder supportoMTL Securities Limited, the company's largest shareholder, has
agreed to apply for $4.2m of new shares (its entitlement is
$3.4m)
oMTL Securities’ total investment to date is $9.95m
RankingoAll new shares will rank equally with existing fully paid ordinary
shares from the date of issue
EQUITY RAISING DETAILS
24
Investor Presentation | 2022
TIMETABLE
Event Date (all 2022)
Announcement of Offer30 May
Record Date for Determining Eligibility5.00pm on 10 June
Opening Date and mailing/emailing of Offer Documentation13 June
ClosingDate (last day for online applications with payment), unless
extended
5.00pmon 23 June
Allotment andissue of New Shares29 June
Quotation of New Shares (NZX:MEE)29 June
Statements despatched4July
25
Investor Presentation | 2022
QUESTIONS & THANK YOU
---
Me Today Limited
Rights Issue Oer Document
Dated 8 June 2022
NOT FOR RELEASE TO U.S. WIRE SERVICES OR DISTRIBUTION IN THE UNITED STATES.
This is an important document. You should read the whole document before
deciding whether to subscribe for shares. If you have any doubts about what to do,
please consult your financial or legal adviser.
Important information
Apply online at www.shareoer.co.nz/metoday by 5:00pm on
23 June 2022
General information
This document has been prepared by Me Today Limited (Me
Today) in connection with a 1.3 for 1 renounceable rights oer
of new ordinary shares to Eligible Shareholders. The Oer is
made under the exclusion in clause 19 of Schedule 1 of the
Financial Markets Conduct Act 2013 (the FMCA).
This document is not a product disclosure statement for the
purposes of the FMCA and does not contain all of the
information that an investor would find in a product disclosure
statement, or which may be required in order to make an
informed investment decision about the Oer or Me Today
Additional information available
Me Today is subject to continuous disclosure obligations under
the NZX Main Board Listing Rules. Further information relating
to the Rights Oer can also be found in Me Today’s recent
market announcements and its most recent unaudited
consolidated financial statements for the 12 month period
ended 31 March 2022, which can be accessed online at
www.nzx.com under the ticker code MEE.
Me Today may, during the period of the Oer, make
additional releases to the NZX. To the maximum extent
permitted by law, no release by Me Today to the NZX will
permit an applicant to withdraw any previously submitted
application without Me Today’s prior consent.
We encourage you to read this document and to seek
investment advice from a suitably qualified professional
adviser before you consider investing.
Oering restrictions
No action has been taken to permit a public oering of the
New Shares in any jurisdiction outside New Zealand, or
Australia. The Oer may also be made and accepted in such
other places where a shareholder satisfies Me Today that the
Oer can lawfully be made and accepted. However,
shareholders in the United States are not eligible to participate
in the Rights Oer. Similarly, shareholders (including trustees,
Custodians and nominees) who hold Shares on behalf of
persons in the United States, or are acting for the account or
benefit of persons in the United States, are not eligible to
participate in the Rights Oer on behalf of those persons.
The distribution of this document (including an electronic
copy) in a jurisdiction outside the Oer Jurisdictions may be
restricted by law and persons who come into possession of it
(including nominees, trustees or custodians) should seek
advice on and observe any such restrictions. In particular, no
person may subscribe for, purchase, oer, sell, distribute or
deliver New Shares, or be in possession of, or distribute to any
other person, any oering material or any documents in
connection with the New Shares, in any jurisdiction unless in
compliance with all applicable laws and regulations.
The Shares to be oered and sold under this Oer have not
been, and will not be, registered under the U.S. Securities Act
of 1933, as amended (the "U.S. Securities Act"), or the securities
laws of any state or other jurisdiction of the United States, and
may not be oered or sold in the United States or to any
person acting for the account or benefit of a person in the
United States except in accordance with an available
exemption from, or in a transaction not subject to, the
registration requirements of the U.S. Securities Act and any
other applicable securities laws.
No Guarantee
There is no guarantee that the Oer will proceed nor any
guarantees about the future performance of Me Today or any
return on any investment made under this document.
Decision to participate in the Oer
The information in this document does not constitute financial
product advice or a recommendation to acquire New Shares.
This document has been prepared without taking into account
the investment objectives, financial, or taxation situation or
particular needs of any applicant or investor.
Forward Looking Statements
This document contains certain statements that relate to the
future. Such forward looking statements are not a guarantee
of future performance and involve known and unknown risks,
uncertainties, assumptions and other factors, many of which
are beyond the control of Me Today and which may cause the
actual results, performance or achievements of Me Today to
dier materially from those expressed or implied by such
statements.
Under no circumstances should you regard the inclusion of
forward looking statements in this document as a guarantee
of future performance.
The statements, although made in good faith, involve known
and unknown risks, uncertainties and assumptions, many of
which are beyond Me Today’s control.
Privacy
Any personal information provided by Eligible Shareholders
online will be held by Me Today and/or Computershare at the
addresses set out in the Directory. This information will be
used for the purposes of administering your investment in Me
Today and will be disclosed to third parties only with your
consent or if required by law. Under the Privacy Act 2020
(New Zealand), you have the right to access and correct any
personal information held about you.
Dividend Policy
The directors have adopted a policy that there will be no
dividend payments or other distributions made for the
foreseeable future. Instead, any surplus funds will be used to
fund immediate and future growth opportunities.
Enquiries
Enquiries about the Oer can be directed to an NZX Firm or
your financial or legal adviser. If you have any questions
about your entitlement, or how to apply online, please contact
Computershare.
Times
All references to time in this document are to New Zealand
time.
Defined terms
Capitalised terms used in this Oer booklet have the specific
meaning given to them in the Glossary at the back of this Oer
booklet or in the relevant section of this Oer booklet.
1
Dear shareholders
Me Today rights issue
On behalf of the directors of Me Today Limited we are pleased to oer eligible shareholders the
opportunity to participate in our renounceable rights issue at an issue price of 1 cent per share. The Rights
will not be quoted on the NZX.
On 30 May 2022 Me Today released its unaudited consolidated financial results for the 12 month period to
31 March 2022 and on 8 June 2022 an investor presentation. A copy of those announcements, and other
announcements made by the company are available at www.nzx.com/companies/MEE/announcements.
The company intends to use the cash raised to enable continued investment in brands, to take advantage of
international opportunities, lessen cashflow pressure on the company and to help meet the company’s
additional working capital requirements over the next year arising from the impact of the lower level of King
Honey sales.
Eligible shareholders are entitled to take up 1.3 New Shares for every one Existing Share held, and to apply
for additional shares at that price. Eligible shareholders have until 5:00pm on 23 June 2022 to apply at the
following link: www.shareoer.co.nz/metoday.
The company’s largest shareholder, MTL Securities Limited, has agreed to apply for $4.2m of new shares
(comprising its $3.416m entitlement and the balance as oversubscriptions). To the extent required by the
Takeovers Code, MTL Securities has agreed that some of its existing shares would be reclassified as
non-voting shares, contemporaneously with allotments under the capital raise.
Shareholders who choose not to take up their entitlements will have their percentage shareholding diluted.
The company is also giving current shareholders the opportunity to participate by applying for additional
Shares over and above their Entitlement at the same price as the oer.
In addition, the directors plan to place any shortfall in the rights issue with new investors at the same price
as this rights issue.
This document sets out important information about the Company and the Oer. Before making your
investment decision, I encourage you to read these documents in full and also to consider the information
disclosed by Me Today to NZX and other information available at www.nzx.com under the ticker code
“MEE”.
If you are in doubt as to what you should do, you should consult your financial or professional adviser.
Yours sincerely,
Grant Baker
Chairman
Me Today Limited
10 June 2022
Key terms of the Oer
The Oer
A pro-rata renounceable rights issue of 1.3 New Shares for every one Existing Share
held on the Record Date
Shareholders with registered addresses in the Oer Jurisdictions on the Record Date
Issue price
Eligible Shareholder
1 cent per New Share
Oer Size
Up to $10 million. In the event the Company receives subscriptions for more than $10
million, it reserves the right to issue additional Shares under the 15% placement Listing
Rule or in any other manner it may lawfully do so.
Oversubscriptions
If you accept your entitlement in full, you may apply for any number of Additional New
Shares pursuant to the Oversubscription Facility
When to apply
Applications must be received by 5.00pm on the Closing Date (23 June 2022, unless
extended).
How to apply
Application may be made online at www.shareoer.co.nz/metoday. To complete an
online application, you will be required to enter your CSN/Holder number.
Payment for applications made online must be made by direct credit.
Shares currently on issue
776,185,064 Shares quoted on the NZX Main Board
Maximum number of New
Shares being oered
1,009,040,583 New Shares (subject to Me Today’s right to issue further shares under the
Listing Rules).
While participation in the Oer is optional, if Eligible Shareholders choose not to take up the Oer their shareholdings
will be diluted.
Important Dates
Announcement of the Oer
Opening Date and mailing/emailing of Oer documentation
Allotment and issue of New Shares
Closing Date (last day for online applications with
payment), unless extended
Record Date for determining eligibility
Quotation of New Shares
Statements despatched
30 May 2022
13 June 2022
29 June 2022
5.00pm on 23 June 2022
5.00pm on 10 June 2022
29 June 2022
4 July 2022
These dates are subject to change and are indicative only. Me Today reserves the right to amend this timetable
(including by extending the Closing Date) subject to applicable laws and rules of the NZX Main Board. Me Today reserves
the right to withdraw the Oer and issue New Shares at any time before the Issue Date in its absolute discretion.
2
1 The Oer
The Oer is an oer of New Shares in Me Today to
Eligible Shareholders under a pro-rata renounceable
rights issue. Under the Oer, Eligible Shareholders are
entitled to subscribe for 1.3 New Shares for every one
Existing Share held on the Record Date (with any
fractional entitlements rounded down) and may apply
for Additional New Shares pursuant to the
Oversubscription Facility.
The New Shares are of the same class as (and rank
equally with) Me Today’ Existing Shares which are
quoted on the NZX Main Board. Me Today will take any
necessary steps to ensure that the New Shares are,
immediately after the issue, quoted.
The Rights will not be quoted on the NZX Main Board.
2 Issue Price
The Issue Price is 1 cent per New Share. The Issue Price
must be paid in full on application online at
www.shareoer.co.nz/metoday by 5:00pm on 23 June
2022. Me Today may accept late Applications and
Application Monies, but has no obligation to do so. Me
Today may accept or reject (at its discretion) any online
application which it considers is not completed correctly,
and may correct any errors or omissions on any online
application.
If an Eligible Shareholder fails to accept any New Shares
and pay the associated Application Monies by the
Closing Date (5.00pm on 23 June 2022, unless extended),
their Rights will lapse.
As required by the Listing Rules, if Me Today receives,
before the Closing Date, a renunciation and an
acceptance in respect of the same Right(s), the
renunciation shall be given priority to the acceptance.
Application monies received will be held in a trust
account with Computershare until the corresponding
New Shares are allotted or the application monies are
refunded. Interest earned on the application monies will
be for the benefit, and remain the property, of Me Today
and will be retained by Me Today whether or not the
issue of New Shares takes place. Any refunds of
application monies will be made within 5 Business Days
of the issue of New Shares (or such earlier date that the
decision not to proceed with the Oer is made).
3 Eligibility
The Oer is only open to Eligible Shareholders, being
those persons with registered addresses in the Oer
Jurisdictions (or as Me Today may otherwise determine
in compliance with applicable laws), who are registered
as Shareholders at the Record Date.
4 Oversubscription Facility
Eligible Shareholders who accept their full Entitlement
may also apply for Additional New Shares (in excess of
Terms and conditions
their Entitlement) at the Issue Price pursuant to the
Oversubscription Facility. Applicants may apply for any
number of Additional New Shares, but there is no
guarantee that Applicants will be allocated any or all of
the Additional New Shares for which they apply.
No applicant for Additional New Shares will be allocated
any greater number of Additional New Shares than the
number for which they have applied and paid.
Me Today may scale the Oversubscription Facility
applications in such manner as the directors consider
equitable and in the interests of Me Today. The
directors’ decision on scaling will be final.
5 Opening and Closing Dates
The Oer will open for receipt of acceptances on 13 June
2022 (the “Opening Date”). The last day for receipt of
applications made online with payment is 5.00pm on 23
June 2022, unless extended (the “Closing Date”), subject
to Me Today varying those dates in accordance with the
NZX Main Board Listing Rules.
6 Issue of New Shares
New Shares are expected to be allotted and issued on 29
June 2022 (the “Issue Date”).
In the event that the Oer is extended, Me Today
reserves the right to issue New Shares on or about 29
June 2022, and weekly thereafter as any further
applications are received, until the date up to 5 business
days after any extended closing date.
Statements for New Shares will be issued and mailed in
accordance with the Listing Rules.
7 Terms and Ranking of New Shares
New Shares allotted and issued will be fully paid and will
be the same class as (and rank equally in all respects
with) other Shares on issue that are quoted on the NZX
Main Board on the Issue Date. They will give the holder
the right to one vote on a resolution at a meeting of
shareholders (subject to any restrictions in Me Today’
constitution or the Listing Rules), the rights to dividends
authorised by the Board and the right to a proportionate
share in any distribution of surplus assets of Me Today
on any liquidation.
8 Partial acceptance
If you are an Eligible Shareholder, you are not required
to subscribe for all of the New Shares to which you
would be entitled under the Oer. You may subscribe
for a proportion of your New Shares or allow your
Entitlement to lapse.
9 Minimum amount raised
There is no minimum amount that must be raised for the
Oer to proceed.
3
10 NZX Main Board Quotation
The New Shares have been accepted for quotation by
NZX and will be quoted upon completion of allotment
procedures. The NZX Main Board is a licensed market
operated by NZX, which is a licensed market operator
regulated under the FMCA.
NZX accepts no responsibility for any statement in this
Oer document.
11 No Rights trading
The Rights will not be quoted on the NZX Main Board
and accordingly there will be no established market for
Rights. If you wish to sell your rights privately to a buyer
you identify, you should contact Computershare (see
Directory) to request a Security Renunciation Form.
12 Compliance with Takeovers Code
To enable compliance with the Takeovers Code, to the
extent permitted by all applicable laws shareholders
may give an instruction to Me Today in writing to
reclassify some of their existing Shares or some of the
New Shares issued to them as non-voting shares. The
non-voting shares have the same terms as quoted
ordinary shares except that they will not be quoted, will
not carry any voting rights, and may be reclassified as
ordinary shares in whole or in part at any time by notice
in writing to Me Today).
13 NZX Listing Rules
The issue of New Shares under the Oer is being
undertaken under NZX Listing Rule 4.3.1(a) (Pro-rata
issue) and 4.4 (Rules applicable to pro-rata issues).
In addition, the directors plan to place the shortfall in the
rights issue with new investors at the same price as this
rights issue in accordance with NZX Listing Rule 4.4.
14 Amendments to the Oer and waiver of compliance
Notwithstanding any other term or condition of the Oer,
Me Today may, at its discretion:
make non-material modifications to the Oer on such
terms and conditions it thinks fit (in which event
applications for Shares under the Oer will remain
binding on the applicant notwithstanding such
modification and irrespective of whether an
application was received by the Computershare
before or after such modification is made); and/or
suspend or terminate the Oer at any time prior to the
issue of the Shares under the Oer (including by
reviewing the timetable for the Oer). If the Oer is
terminated, application monies will be refunded to
applicants without interest within 5 business days of
termination.
Me Today reserves the right to waive compliance with
any provision of these terms and conditions.
Terms and conditions
Me Today will notify NZX of any waiver, amendment,
variation, suspension, withdrawal or termination of the
Oer.
15 Governing Law
These terms and conditions shall be governed by and
construed in accordance with the laws of New Zealand.
Other Disclosures
Investors are encouraged to review the Me Today
unaudited interim financial statements for the 12 month
period ended 31 March 2022, including notes 2.2 (Impact
of COVID-19) and 2.3 (Going Concern) at
https://www.nzx.com/announcements/392909.
Investors should also consider the Risk Factors discussed
in Me Today’s Listing Profile at
https://www.nzx.com/announcements/349864
(see pages 11 and 40-44) about the Me Today business,
and the Risk Factors about the King Honey business in
the Notice of Special Meeting of Shareholders at
https://www.nzx.com/announcements/373590
(see pages 9-10). Other announcements about Me
Today, including any announcement made after the date
of this document, are available and can be accessed at
www.nzx.com under the ticker code MEE.
4
Glossary
“Additional New Shares” means New Shares which an
Applicant applies for over and above their Entitlement under
the Oversubscription Facility.
“Business Day” has the meaning given to that term in the
Listing Rules.
“Computershare” means Computershare Investor Services
Limited.
“Closing Date” means 5.00pm on 23 June 2022 (unless
extended beforehand by notice in writing to NZX).
“Eligible Shareholder” means a Shareholder of Me Today with
a registered address in the Oer Jurisdictions, as at the Record
Date.
“Entitlement” means the number of Rights to which Eligible
Shareholders are entitled.
“Existing Share” means a fully paid share in Me Today on
issue on the Record Date.
“FMCA” means the Financial Markets Conduct Act 2013.
“Issue Date” means 29 June 2022.
“Issue Price” means 1 cent per New Share.
“Listing Rules” means the NZX listing rules, as amended from
time to time and for so long as Me Today is listed by NZX.
“Me Today” means Me Today Limited (New Zealand company
number 1955467).
“New Share” means an ordinary share in Me Today oered
under the Oer of the same class as (and ranking equally in all
respects with) Me Today’s quoted Existing Shares at the time
of the issue of the New Shares.
“NZX” means NZX Limited.
“NZX Firm” means any entity designated as an NZX Firm under
the Participant Rules of NZX.
“NZX Main Board” means the main board equity security
market operated by NZX.
“Oer” means the oer to subscribe for New Shares to Eligible
Shareholders as at the Record Date, pursuant to this
document.
“Oer Jurisdictions” means New Zealand, Australia or such
other places where a shareholder satisfies Me Today that the
Oer can lawfully be made and accepted. However,
shareholders in the United States are not eligible to participate
in the Rights Oer. Similarly, shareholders (including trustees,
Custodians and nominees) who hold Shares on behalf of
persons in the United States, or are acting for the account or
benefit of persons in the United States, are not eligible to
participate in the Rights Oer on behalf of those persons.
“Opening Date” means 13 June 2022.
“Oversubscription Facility” means the facility that entitles an
Eligible Shareholder who accepts their Entitlement in full to
also apply for additional New Shares.
“Record Date” means 5.00pm on 10 June 2022.
“Renounceable” means you can sell or otherwise transfer your
rights to someone else who can use these rights to buy the
New Shares that you’re entitled to.
“Right” means the renounceable right to subscribe for one
New Share at the Issue Price, issued pursuant to the Oer.
“Share” means one ordinary fully paid share in Me Today.
“Shareholder” means a registered holder of Shares on issue.
All references to time are to New Zealand time, references to
currency are to New Zealand dollars, and any references to
legislation are references to New Zealand legislation unless
stated or defined otherwise.
5
Directory
Apply online at www.shareoer.co.nz/metoday
by 5:00pm (NZ time) 23 June 2022.
ENQUIRIES
Enquiries about this Oer should be directed to an NZX Firm or
your financial or legal adviser.
ISSUER
Registered Oce:
Level 1, 25 Broadway
Newmarket
Auckland 1023
New Zealand
Website: www.metoday.com
Postal Address:
PO Box 109047
Newmarket
Auckland 1149
New Zealand
DIRECTORS
Grant Baker, Chairman and Non-Executive Director
Michael Kerr, Chief Executive Ocer and Executive Director
Stephen Sinclair, Chief Financial Ocer and Executive Director
Hannah Barrett, Independent Director
Roger Gower, Independent Director
Antony Vriens, Independent Director
LAWYERS
Chapman Tripp
Level 34, PwC Tower
15 Customs Street West
Auckland 1010
New Zealand
SHARE REGISTRAR
Computershare Investor Services Limited
159 Hurstmere Road
Takapuna
Auckland 0622
New Zealand
Private Bag 92119
Victoria Street West
Auckland 1142
New Zealand
If you have any queries about your Entitlements please contact
Computershare Investor Services Limited at 0800 650 034 (within
New Zealand) or +64 9 488 8787 or email
metoday@computershare.co.nz.
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
Other issuers discussed similar conditions around this time
Matched by meaning across NZX announcement text, not keywords — based on our semantic index of announcement bodies.
- NZK — New Zealand King Salmon Investments Limited: NZKS FY22 results and NZ$60.1 million equity raising2022-04-13
“FY22 INVESTOR PRESENTATION DISCLAIMER Non-GAAP financial information Certain financial information included in this presentation is non-GAAP financial information, including: •EBITDA. We calculate EBITDA by adding back (or deducting) depreciation, amortisation, finance expense /…”
- AIR — Air New Zealand: Air NZ launches comprehensive recapitalisation package2022-03-30
“NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES Air New Zealand Market Update and Recapitalisation 2 NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES This presentation has been prepared by Air New Zealand Limited (the Company or Air New Zealand) in relation to the 2-for…”
- NZL — New Zealand Rural Land Company Limited: Proposed Acquisitions and Capital Raising2022-06-07
“2 NEW ZEALAND RURAL LAND COMPANY IMPORTANT NOTICES AND DISCLAIMER This presentation has been prepared by New Zealand Rural Land Company Limited (NZL) in relation to the accelerated renounceable entitlement offer (the Offer) of new shares in NZL (New Shares) to be made to: • eli…”