Published 19 June 2007
Burger Fuel Ltd (Chris Mason, Westmere; & Josef Roberts, Ponsonby) has an international expansion plan to follow a $15 million capital-raising & listing on the NZAX.
The company has 19 outlets in New Zealand, one in Sydney, and wants to expand into Europe & the US.
It’s offering customers first bite at the $1/share offer & 1:5 option to buy extra shares at the same price in 18 months.BurgerFuel has offered its 70,000 VIB members (very important burger connoisseurs) first chance to subscribe, up to Monday 25 June, when the prospectus becomes available to the wider public. The offer is scheduled to close on Monday 16 July.
Investors can also subscribe for shares online, and by credit card online. The company said it was the first in New Zealand to do that and believed it would be the first in Australia.The issue values the whole company at $60 million. New investors will own 26.7% of it, with the balance principally held by staff, associate directors & the promoters, founder & managing director Chris Mason and executive director Josef Roberts. Mr Mason & Mr Roberts have entered into 12-month standstill agreements on their shares.
Mr Mason opened the company’s first store on Ponsonby Rd in 1995 and is director of 4 Burger Fuel companies. Mr Roberts set up the Red Bull energy drink business in Australia & New Zealand and invested in Burger Fuel after he sold the Red Bull companies back to the Austrian parent in 2002. He’s a director of Helice Properties Ltd, JCR Capital Ltd, Jocargl Holdings Ltd, Mortgage People Ltd, People Ltd, Redmond Enterprises Ltd, RHH Ltd, The Family Business Ltd, Trinity Beach Palace Pty Ltd & Tuscan Co Ltd.Mr Mason & Mr Roberts have been joined as directors of Burger Fuel Worldwide Ltd by Peter Brook (chairman), Carl Howard-Smith & Emmet Hobbs. Mr Brook is a director of Albany City Property Investments Ltd, Industrial Capital Partners Ltd & ING Property Trust; Mr Howard-Smith is a director of & legal advisor to Mainfreight Ltd and director of Moonstruck Enterprises Ltd & Pie Melon Bay Farms Ltd; and Mr Hobbs is chairman of Hirepool Ltd and a director of Bligh Finance Ltd, Freestyle Group Ltd, Mainfreight, Metro Smart Ltd, Next Generation.net Ltd, Rakino Group Ltd & Strategic Performance Ventures Ltd.
Website: BurgerFuel offer
Attribution: Company statement, story written by Bob Dey for this website.