- Joined
- 27 June 2010
- Posts
- 4,141
- Reactions
- 308
Resource Generation Limited is an Australian public company that was placed into voluntary administration on 2 July 2021 after it was unable to obtain the required funding for its South African coal mine. On 10 February 2022, the Company entered a Deed of Company Arrangement (DOCA), which was approved by Shareholders at a meeting held on 27 May 2022. The Company was removed from the Official List on 27 October 2022 and commenced evaluating corporate opportunities.
The Company has entered into a binding agreement pursuant to which it has agreed to offer to acquire 100% of the issued share capital of Freedom Care Corporation Pty Ltd. The consideration to be paid by the Company to the existing shareholders of Freedom Care is 82,500,000 Shares and 15,000,000 Options. The Company has also agreed to issue 210,000 Shares to existing employees of Freedwom Care.
Freedom Care is a National Disability Insurance Scheme (NDIS) services provider head-quartered in Western Sydney. Freedom Care provides a full suite of services to NDIS Participants predominantly in the greater Sydney and Illawarra areas, including:
a. core support services including:
The majority of Freedom Care's revenue (97+%), for the half year ended 31 December 2022, was sourced from the provision of NDIS services to Participants.
As at 31 December 2022, approximately 58% of Freedom Care’s revenue was generated from Accommodation Services, approximately 18% came from Home and Community Participation, approximately 18% came from Allied Health Services and approximately 6% came from Plan Management and Support Coordination.
Generally, Freedom Care pays the award wage to its staff and contractors under SCHADS (Social, Community Home Care and Disability Services). The NDIS pricing guidelines allow for a profit margin for Service Providers, being the difference between the amount they receive for providing services to Participants and what they must pay staff under the SCHADS award.
It is anticipated that FCG will list on the ASX during October 2023.
freedomcaregroup.com.au
The Company has entered into a binding agreement pursuant to which it has agreed to offer to acquire 100% of the issued share capital of Freedom Care Corporation Pty Ltd. The consideration to be paid by the Company to the existing shareholders of Freedom Care is 82,500,000 Shares and 15,000,000 Options. The Company has also agreed to issue 210,000 Shares to existing employees of Freedwom Care.
Freedom Care is a National Disability Insurance Scheme (NDIS) services provider head-quartered in Western Sydney. Freedom Care provides a full suite of services to NDIS Participants predominantly in the greater Sydney and Illawarra areas, including:
a. core support services including:
i. NDIS supported independent living (SIL), short term
accommodation (STA)/respite and medium-term accommodation (MTA);
ii. independent living options (ILO);
iii. NDIS social and community participation; and
iv. Day programs;
b. capacity-building supports including:i. support co-ordination;
ii. plan management;
iii. behavioural support services; and
iv. allied health services;
c. capital supports including:i. assistive technology;
ii. home modifications; and
iii. specialised disability accommodation (SDA).
The majority of Freedom Care's revenue (97+%), for the half year ended 31 December 2022, was sourced from the provision of NDIS services to Participants.
As at 31 December 2022, approximately 58% of Freedom Care’s revenue was generated from Accommodation Services, approximately 18% came from Home and Community Participation, approximately 18% came from Allied Health Services and approximately 6% came from Plan Management and Support Coordination.
Generally, Freedom Care pays the award wage to its staff and contractors under SCHADS (Social, Community Home Care and Disability Services). The NDIS pricing guidelines allow for a profit margin for Service Providers, being the difference between the amount they receive for providing services to Participants and what they must pay staff under the SCHADS award.
It is anticipated that FCG will list on the ASX during October 2023.
Freedom Care Group – Freedom Care Group is a leading NDIS support sercices provider
freedomcaregroup.com.au
