Offer Price

A$0.0070

per share

Offer Size

A$1,000,000

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Forbidden Foods Limited (ASX:FFF)

FFF

Lead Manager

Offer Price

A$0.0070

per share

Offer Size

A$1,000,000

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Placement

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Offer Details

Issue Price (Per Share)

A$0.0070

Discount

-16.67%

Offer Size

A$1,000,000

Shares Available

142,857,143

The Placement will consist of: The issue of circa 142,857,143 shares at an issue price of 0.7 cents per share totalling $1,000,000 (before costs) via a single-tranche placement (“Placement”). The offer represents a 12.5% discount to the 15- day VWAP of 0.8c. The Company reserves the right to accept additional bids at its discretion.

For every two (2) new shares subscribed for under the Placement, there will be one (1) free attaching listed option that have an exercise price of 1.5 cents and will expire 25 October 2027 (“Attaching Options”). FFFO is currently trading at $0.003.

The Shares issued under the Placement will be listed on ASX and will rank pari-passu with the existing fully paid ordinary shares in the capital of the Company. The Shares issued under the Placement will be issued pursuant to the Company’s remaining placement capacity under ASX Listing Rule 7.1 (“Placement”).

The Joint Lead Managers (JP Equity Partners & GBA Captial) are inviting Eligible Investors to apply for new Shares under the Placement.

Company Overview

Forbidden Foods Limited (FFF) is an Australian-based FMCG company focused on delivering premium functional food and beverage products. With a capital-light brand management strategy, FFF specialises in the ‘better-for-you’ segment, offering innovative, clean-label products under its flagship brands, Blue Dinosaur and Oat Milk Goodness (OMG). The company is actively scaling production, distribution, and sales while leveraging strategic marketing and partnerships.

Founded with a commitment to providing high-quality, nutritious food options, Forbidden Foods has built a strong market presence through its focus on clean ingredients and simple formulations. The company’s core product lines include Blue Dinosaur, a premium range of snack, energy, and protein bars made with whole food ingredients, and Oat Milk Goodness (OMG), a dairy-free, high-protein oat milk product, including Australia’s first functional oat milk with 20g of plant protein per serve. FFF’s growth is underpinned by a disciplined financial strategy, cost efficiencies, and a strong focus on profitability.

Investment Highlights

Consumers are increasingly seeking plant-based, high-protein, and low-sugar food alternatives, positioning FFF well in a growing market. A strong focus on Direct-to-Customer (D2C) sales and digital presence gas driven significant online sales growth. The company collaborates with key influencers, including prominent Australian cricketers Steve Smith and Alex Carey, and sponsors major events such as the Noosa Triathlon and McGrath Foundation. Additionally, with 75% of Australian consumers preferring locally sourced products, FFF is well positioned to meet this demand.

In Q2 FY25, FFF recorded net sales of $1.17M, representing a 104% increase from the prior quarter and a 77% rise year-on-year. Cash receipts from customers totalled $1.16M, up 55% quarter-on-quarter and 80% from the prior year. The growth was driven by strong momentum in eCommerce, with Blue Dinosaur online sales reaching $383,000, a 94% year-on-year increase. The company secured multiple new product stocking agreements with large Australian retailers, strengthening its distribution network. Operational efficiencies and cost synergies following the OMG acquisition have positioned the company for continued financial improvement.

Chief Executive Officer (CEO) Alex Aleksic has been key to FFF’s recent growth and brings a wealth of experience in financial management and strategy in the FMCG space. Previously, Alex was CFO of Lark Distilling Co. Ltd (ASX: LRK) where he helped the company scale from a $40M to $400M market capitalisation through disciplined capital allocation and operational excellence. Under his leadership, FFF is focused on profitability, resource optimisation, and market expansion.

FFF is set to expand its product portfolio with health-focused innovations such as plant-based protein powders and endurance bars. Strengthening e-commerce channels will drive high-margin growth, while international expansion into key markets, including the US, UAE, and India, will further enhance market reach.

Attractive Valuation: ~$3.6m Enterprise Value offers significant re-rate potential as company approaches profitability in 2025.

Use of Funds

Proceeds raised will be used for:

General Working Capital
Inventory
Sales & Marketing
Operational Costs

Documents & Downloads

Term Sheet

Investor Presentation

Board & Management

Albert Cheok

Non-Executive Director

Mr Cheok was appointed Non-Excutive Chairman on 1st of January, 2024.

Mr Cheok brings a unique level of experience and strategic insight from a distinguished 42-year career in monetary policy, financial services and equity capital markets, including successful roles in the fast-moving consumer goods (FMCG) industry.

From 2002 to 2017, Mr Cheok held the role of Chairman of Auric Pacific Group, which he led to become the largest listed food conglomerate in Singapore. From 2006 to 2017, Mr Cheok was also Chairman of the Board of First REIT Singapore. In 2016, he was awarded the top REIT fund manager in Asia in 2016 after unit holders of First REIT received

In policy, Mr Cheok held the role of Chief Manager (now titled Assistant Governor) of the Reserve Bank of Australia (RBA) from October 1988 to September 1989, before becoming the Commissioner of Banking in Hong Kong. He was subsequently made an Executive Director of the Hong Kong Monetary Authority from April 1993 to May 1995.

Alex Aleksic

Managing Director & CEO

Alex is the Chief Executive Officer and Managing Director of Forbidden Foods. Alex is a member of the Remuneration and Nomination Committee as well as the Audit, Risk and Compliance Committee.

Alex is a senior business strategist and advisor with over twenty years of senior managerial experience in commercial, operational and financial roles within multinational, ASX top 50 companies private equity and high net worth ownership structures.

Most recently, Alex was Chief Financial Officer of Australian leading Australian beverage company, Lark Distillery Limited (ASX:LRK) between June 2020 and December 2022). During his time with Lark, Alex was instrumental in the Company’s growth trajectory, earnings growth, M&A strategy and market engagement which lead to the group achieving a peak market capitalisation of ~$450m. His previous roles include positions as Chief Financial Officer at Accent Group (ASX:AX1), Shaver Shop Gr (ASX:SSG) and senior multi-discipline roles within Goodyear Dunlop, Telstra (ASX:TLS), Coles (ASX:COL) and Kodak Australasia.

Alex successfully launched Rightsize Advisory, a consultancy firm supporting small to medium sized businesses seeking growth, succession planning and/or exit strategies.

Alex has a Bachelor of Business (Accountancy) and Masters in Business Administration (MBA) both completed at RMIT University. Alex also is a fully qualified Certified Practising Accountant (CPA).

Daniel Rootes

Non-Executive Director

Daniel is an experienced professional in the financial services sector of the past 10 years bringing a wealth of expertise to the board. Currently working as an Investment Advisor at JP Equity partners based in Perth WA,

During his time Daniel has spent his time marketing ASX listed companies to investors and building a network across Australia and South East Asia developing strong relationships with Companies, Corporate advisers, Wealth Managers, Mainstream Media and Marketing companies and striving to get the best results for his clients

Daniel played an exciting role as a founding Director of Oat Milk Goodness and holds a Business and marketing Degree through Macleay College Sydney along with RG146 Qualification.

Nathan Quailey

Non-Executive Director

Mr Quailey was appointed Non-Executive Director on 1st of January, 2024.

Mr Quailey is a senior advertising executive who currently serves as Chief Growth Officer of multinational advertising & marketing agency Ogilvy. Prior to his appointment as Chief Growth Officer, Mr Quailey was General Manager (Australia) from October 2012 to December 2023, where he oversaw one of the most successful periods in the agency’s history and managed over 500 staff across multiple states. During that time he spearheaded several strategic growth initiatives underpinned by strong budget development practices, and delivered industry recognised campaigns for a number of large domestic and international beverage companies.

Disclaimer

This site does not constitute an offer, recommendation, or invitation to any person, nor does it purport to provide all of the information an interested party may require in order to investigate the affairs of Forbidden Foods Limited. This site is provided for information only and has not been prepared with the intention that the recipient should rely on it. Liquidity Technology Pty Ltd ("Liquidity") does not make any representation in relation to the contents of this site or give any assurances as to the accuracy or the degree of care or diligence used in preparing this document. The information, data, and advice herein is provided to recipients on the clear understanding that Liquidity nor any of its representatives, directors, officers, employees, agents, or advisers makes any representation or warranty about its accuracy, reliability, completeness, or suitability for any particular purpose and does not accept liability (including, but not limited to, for any expenses, losses, damages, and/or costs (including, but not limited to, indirect or consequential damage)) nor take any responsibility of any kind whatsoever (including, but not limited to, whether in contract, tort, financial or otherwise) for the information, data, or advice contained in or for any omission or for any other information, statement, or representation provided to any recipient (including, but not limited to, as a result of information, data, or advice being inaccurate, unreliable, incomplete, or unsuitable in any way and for any reason whatsoever). Users of this site must conduct their own investigation and analysis regarding any information, statement, or representation contained or provided to any recipient or its associates by Liquidity or any of the Liquidity Personnel. Each recipient waives any right of action, which it has now or in the future against Liquidity or any of the Liquidity Personnel in respect of any errors or omissions on or from this site, however caused. All rights are reserved. If the whole or any part of a provision of this "Notice and Disclaimer" is invalid, illegal, or unenforceable, then such provision will be severed and neither that part or provision or its severance will affect the validity or enforceability of the remaining parts or provisions.

Disclosure of Interest: Liquidity receives commission from dealing in securities and its introducers of business may directly share in this commission. Liquidity and its associates may hold shares in Forbidden Foods Limited.