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ENECO REFRESH LTD — Capital/Financing Update 2019
Jan 31, 2019
64874_rns_2019-01-31_08393579-256b-4524-a867-5b5e60828718.pdf
Capital/Financing Update
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Refresh Group Limited ( ABN 28 079 681 244) 17 Denninup Way, Malaga WA 6090 Tel: (08) 9248 3006 Fax: (08) 9248 7233 Email: [email protected] Website: www.refreshgroup.com.au
Friday, 1 February 2019
ASX Announcement (ASX: RGP)
Refresh buys back 51% share in Refresh Waters Queensland
Refresh Group (Refresh) is pleased to announce that it has bought back a 51% share of Refresh Waters Queensland Pty Ltd (RWQ) from Saisan Co Ltd (Saisan) today.
Refresh’s wholly-owned subsidiary, Refresh Waters Pty Ltd, sold 51% of RWQ to Japanese company Saisan on 2 January 2014. Saisan owns Water One, which has 2 bottled water factories in Japan.
Executive Chairman of Refresh, Henry Heng, said, “We are pleased to have worked with Saisan over the past 5 years. Having recently received a substantial investment from Eneco, we looked to various growth opportunities and one of these was to buy back our 51% share in Refresh Waters Queensland. We know that business very well and are confident it will be profit accretive immediately.”
Following the sale of its controlling stake in RWQ in 2014, RWQ became an associate company. Its financials were equity accounted and not consolidated into the books of Refresh. Now that RWQ is a subsidiary, its financials, including revenue and profit, will be consolidated into that of Refresh. Revenue for the first half year was $916k with Earnings before Interest and Tax of $39k.
For more information, please contact: Henry Heng Executive Chairman [email protected]
Producing Australia’s purest drinking water since 1997
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Eneco Australia Pty Ltd (ABN 16 631 139 261) 17 Denninup Way, Malaga WA 6090 T: 08 92487222 F: 08 92487233 E: [email protected] Refresh Waters Pty Ltd (ABN 20 115 000 318) Perth - 17 Denninup Way, Malaga WA 6090 T: 08 92487222 F: 08 92487233 E: [email protected] Kalgoorlie – 33/46 Great Eastern Hy, Kalgoorlie WA 6430 T: 08 90222266 F: 08 90224468 E: [email protected] Melbourne – 11 Olive Grove, Keysborough Vic 3173 T: 03 87128432 F: 03 97015744 E: [email protected] Sydney – 3 Salisbury St, Silverwater NSW 2128 T: 02 97484200 F: 02 97484366 E: [email protected] Refresh Waters Queensland Pty Ltd (ABN 97 095 451 406) Brisbane – 120 Mica Street, Carole Park Qld 4300 T: 07 32711251 F: 07 38793019 E: [email protected] Toowoomba – 600 Boundary St, Toowoomba Qld 4350 T: 07 46590400 F: 07 46590411 E: [email protected] Refresh Plastics Pty Ltd (ABN 82 616 217 791) t/a Ampi Plastics – 9 Olive Grove, Keysborough Vic 3173 T: 03 97015600 F: 03 97015744 E: [email protected]