Anteris Technologies Global Corp. — Interim / Quarterly Report 2014

Jul 29, 2014

Admedus Ltd ABN: 35 088 221 078

REGISTERED OFFICE: Level 1, 197 Adelaide Terrace Perth Western Australia 6000

PO Box 6879 East Perth Western Australia 6892

T +61 (0)8 9266 0100 F +61 (0)8 9266 0199

E info.au@admedus.com www.admedus.com

ANNOUNCEMENT TO THE AUSTRALIAN STOCK EXCHANGE

30[th] July 2014

Company Announcements Office Australian Stock Exchange Limited 10[th] Floor, 20 Bond Street SYDNEY NSW 2000

Dear Sir/Madam,

Re: Appendix 4C - Quarterly Report

Please refer to the ‘Appendix 4C’ attached for details for the period ended 30 June 2014 for the Group.

• CardioCel[®] first sales in the US

• Strong closing cash balance

• Initial sales in the US

The past 12 months has been another successful one for Admedus. Admedus’ overall sales for the period were $7.8M, up from the $7.4M of the previous year, with total income for the company, including tax rebate and grants of $10.4M. This included $1.9M in grant funding from the Commercialisation Australia grant, which was awarded in the previous financial year and is supported by the Australian Government.

The closing cash balance at the end of the period was $19.5M after a successful rights issue and share purchase plan. The company remains in a strong financial position as it progresses with the launch and marketing of CardioCel[®] in Europe and the US.

Working capital expenditure increased for both this period and the full year, compared to corresponding periods. This reflects Admedus’ further investment into the therapeutic vaccine programmes, led by Professor Ian Frazer, as well as the establishment of the manufacturing facility in Western Australia and the expansion of the CardioCel[®] sales teams in Europe and the US.

The past quarter saw increasing activity around the launch of CardioCel[®] in Europe with 12 centres now using the product. During the quarter the Company also announced initial sales for CardioCel[® ] in the US post FDA clearance earlier this year.

The Company appreciates the support from investors and shareholders in the capital raising this quarter, which has strengthened the financial position of the company and provides funding for the ongoing marketing and sales growth strategy for CardioCel[®. ] It also supports the continued development of the therapeutic vaccines. With advancing therapeutic vaccine programmes, continued launch of CardioCel[®] globally and growing sales, Admedus is looking forward to another exciting year.

Yours sincerely,

Lee Rodne Managing Director

Appendix 4C

Quarterly report for entities admitted on the basis of commitments

Introduced 31/3/2000. Amended 30/9/2001, 24/10/2005.

Name of entity

Name of entity
Admedus Limited
ABN36 088 221 078	Quarter ended (“current quarter”)
36 088 221 078	30 June 2014

Consolidated statement of cash flows

	Cash flows related to operating activities1.1Receipts from customers1.2Payments for(a) staff costs(b) advertising and marketing(c) research and development(d) leased assets(e) other working capital1.3Dividends received1.4Interest and other items of a similar nature received1.5Interest and other costs of finance paid1.6Income taxes refunded1.7Other – Commercialisation Australia Grant1.8Other – WA Innovation Voucher Program GrantNet operating cash flows	Current quarter$A’000	Year to date(12 months)$A’000
		1,982(2,819)(98)(717)-(3,435)-13-(23)323-	7,830(7,340)(355)(3,284)-(10,109)-41(27)6801,920-
		(4,774)	(10,644)

s
	Current quarter$A’000	Year to date(6 months)$A’000
1.8Net operating cash flows (carried forward)	(4,774)	(10,644)
Cash flows related to investing activities1.9Payment for acquisition of:(a) businesses (item 5)(b) equity investments(c) intellectual property(d) physical non-current assets(e) other non-current assets1.10Proceeds from disposal of:(a) businesses (item 5)(b) equity investments(c) intellectual property(d) physical non-current assets(e) other non-current assets1.11Loans to other entities1.12Loans repaid by other entities1.13OtherNet investing cash flows1.14Total operating and investing cash flows	--(47)(91)---------	--(104)(264)--------97-
	(138)	(271)
	(4,912)	(10,915)
Cash flows related to financing activities1.15Proceeds from issues of shares, options, etc.1.16Proceeds from sale of forfeited shares1.17Proceeds from borrowings1.18Repayment of borrowings1.19Dividends paid1.20Other / Transactions with Non-controlling interestsNet financing cash flows	17,426----	28,053----
	17,426	28,053
Net increase (decrease) in cash held1.21Cash at beginning of quarter/year to date1.22Exchange rate adjustments to item 1.201.23Cash at end of quarter	12,5147,609-	17,1382,445-
	19,583	19,583

Payments to directors of the entity and associates of the directors

Payments to related entities of the entity and associates of the related entities

1.241.25	Aggregate amount of payments to the parties included in item 1.2Aggregate amount of loans to the parties included in item 1.11	Current quarter$A'000
		93
		-
1.26	Explanation necessaryfor an understandingof the transactions
	Consultancy services $66kDirectors fees $27k

Non-cash financing and investing activities

• 2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows

N/A

• 2.2 Details of outlays made by other entities to establish or increase their share in businesses in which the reporting entity has an interest

N/A

Financing facilities available

Add notes as necessary for an understanding of the position. (See AASB 1026 paragraph 12.2).

		Amount available	Amount used
		$A’000	$A’000
3.1	Loan facilities	-	-
3.2	Credit standby arrangements	-	-

The Group holds an overdraft facility of $500,000 which is completely unused at the end of the current quarter. .

Reconciliation of cash

sReconciliation of cash
Reconciliation of cash at the end of the quarter (asshown in the consolidated statement of cash flows) tothe related items in the accounts is as follows.	Current quarter$A’000	Previous quarter$A’000
4.1Cash on hand and at bank4.2Deposits at call4.3Bank overdraft4.4Other (provide details)	19,583	7,069
	-	-
	-	-
	-	-
Total: cash at end of quarter(item 1.23)	19,583	7,069

Acquisitions and disposals of business entities

5.1Name of entity5.2Place of incorporationor registration5.3Consideration foracquisition or disposal5.4Total net assets5.5Nature of business	Acquisitions(Item 1.9(a))	Disposals(Item 1.10(a))

Compliance statement

• 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act (except to the extent that information is not required because of note 2) or other standards acceptable to ASX.

• 2 This statement does /does not* (delete one) give a true and fair view of the matters disclosed.

Sign here: ....... . ... ................................................. Date: 30 July 2014 (Managing Director)

Print name: Lee Rodne

Notes

1. The quarterly report provides a basis for informing the market how the entity’s activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.

2. The definitions in, and provisions of, AASB 107: Statement of Cash Flows apply to this report except for any additional disclosure requirements requested by AASB 107 that are not already itemised in this report.

3. Accounting Standards. ASX will accept, for example, the use of International Financial Reporting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.