Taste the SunRice difference

SunRice is a global FMCG business and one of Australia’s leading branded food exporters.

The SunRice Group is a consumer-focused global food group comprising multiple businesses. SunRice was built by the Australian rice industry over many decades, and today is one of Australia’s leading branded food exporters.

With revenues in excess of $1 billion and operations and markets spanning the globe, we supply more than 50 countries with diverse and nutritious food products, and our operations and assets span Australia, New Zealand, the Middle East, the US, Papua New Guinea, the Pacific Islands and Asia.

SunRice has built a diversified business. We source some of the world’s best short and medium grain rice from our international chains to service a growing portfolio of products and customers. In addition to our specialisation in branded rice and rice-based foods, SunRice also has business segments that a focus on: gourmet Mediterranean foods and food service supply (Riviana); stockfeed production and companion animal feed nutrition expertise (CopRice); and food ingredients supply to manufacturers of household brands across multiple sectors. Our brands have a reputation for superior quality around the world.

Innovation and a focus on our customers are the keys to our success.

For a full overview of the SunRice Group, our strategy to grow the business and our investment proposition, please review the Information MemorandumOpens in new window document that was published in March 2019.

Summary of SunRice’s Non-Standard Elements

Potential investors in SunRice and existing shareholders should note that the structure of Ricegrowers Limited (trading as SunRice) contains non-standard elements, including:

  1. The Company has a dual class share structure with differential voting rights:
    • A Class Shares, which are redeemable preference shares, confer on their holders the right to vote at general meetings of the Company. A Class Shareholders have no right to dividends or distributions, other than the right to be repaid the amount paid up on the A Class Shares on redemption or a winding up of the Company. A Class Shares are not quoted on the ASX and can only be held by Active Growers.
    • B Class Shares, which are quoted on ASX, confer on their holders the right to receive dividends but no right to vote at general meetings. The right of B Class Shareholders to vote on matters relating to the Company is limited to proposals involving a variation to their class rights (including those matters deemed to vary their class rights under the Company’s constitution) and as required for the purposes of the ASX Listing Rules.
  2. The Company’s constitution imposes the following shareholding limits on A Class Shares and B Class Shares:
    • A Class Shareholding Limit: a person must not hold more than 5 A Class Shares, which may include no more than one "Second" A Class Share.
    • B Class Shareholding Limit: a person must not hold a number of B Class Shares which, when aggregated with any B Class Shares held by all associates of that person, exceeds 10% of the total number of issued B Class Shares.
    • If a person holds B Class Shares in excess of the B Class Shareholding Limit,(Excess Shares) all rights of that person (including right to vote at meetings of B Class Shareholders and right to receive dividends) in respect of those Excess Shares are suspended while the breach of the B Class Shareholding Limit continues.  A person who is paid a dividend or other distribution on Excess Shares is requited to refund that dividend or distribution to SunRice on receipt on a written notice from SunRice.  The Directors may also, by written notice, require divesture of Excess Shares.
  3. Under the Company’s constitution, the board of directors of the Company can include up to 9 directors, comprising:
    • up to two (2) Grower Directors who are elected members of the Rice Marketing Board for the State of New South Wales (RMB). These directors will hold office for the same period as their term of office as elected members of the RMB;
    • up to three (3) other Grower Directors. These directors will hold office for four years or such other periods as the A Class Shareholders may determine in a general meeting; and
    • up to four (4) Non-Grower Directors, one of whom may be an employee of the Company. These directors will hold office for such term as the A Class Shareholders may determine in general meeting, except that the managing director is not subject to the retirement requirements of the constitution.