EX-99.1 13 meso-ex991_410.htm EX-99.1

Exhibit 99.1

Appendix 4E

Preliminary final report for the twelve months to 30 June 2021

Name of entity
MESOBLAST LIMITED ABN 68 109 431 870

1. | Reporting period

Report for the financial year ended | 30 June 2021
Previous corresponding period is the financial year ended | 30 June 2020

2. | Results for announcement to the market

| Up/down | % change |  | Amount reported for the year ended 30 June 2021 USD’000
Revenues from ordinary activities (item 2.1) | Down | 77% | to | 7,456
Loss from ordinary activities after tax attributable to members (item 2.2) | Up* | 27% | to | 98,811
Net loss for the period attributable to members (item 2.3) | Up* | 27% | to | 98,811
*increase in loss |  |  |  |
There are no dividends being proposed or declared for the period (item 2.4 and 2.5)
Commentary related to the above results |  |  |  |
Please refer to ‘Item 5.A Operating results’ within the Form 20-F for the year ended 30 June 2021.

3. | Net tangible assets per security

| 30 June 2021 | 30 June 2020
Net tangible asset/(liability) backing per ordinary security (in USD cents) | 2.64 cents | 0.97 cents

A large proportion of the company’s assets are intangible in nature, consisting of intellectual property, goodwill and right-of-use assets. Our Intellectual property and goodwill relate to the acquisition of both Mesoblast, Inc and culture-expanded Mesenchymal Stromal Cell technology. These assets and the associated provision for contingent consideration are excluded from the calculation of net tangible assets per security. The deferred tax liability has also been excluded from the calculation to the extent it relates to future tax obligations as a result of the intellectual property assets deriving revenue at some point in the future. This deferred tax liability has arisen as a direct result of the intellectual property being acquired.

4. | Other documents accompanying this Appendix 4E

This Appendix 4E should be read in conjunction with the Mesoblast annual report on the form 20-F, which includes:

| - | Item 18 Financial Statements; and

| - | Other sections as tabled below.

This preliminary final report and the associated Directors’ Report are found throughout the various sections of the accompanying Mesoblast annual report on the form 20-F.

The following table has been provided to assist readers to locate each section of the Directors’ Report within the accompanying annual report on the form 20-F.

Sections of Directors’ Report | Form 20-F Reference
Principal activities | Item 5.A Operating Results See subheading – “Financial Overview”
Review of operations and activities | Item 4.B Business Overview Item 5.A Operating Results
Business strategies and prospects for future years | Item 4.B Business Overview
Business risks | Item 3.D Risk Factors
Significant changes in the state of affairs | Item 5.A Operating Results See subheading – “Significant changes in the state of affairs”
Matters subsequent to the end of the financial year | Item 8.B Significant Changes
Likely developments and expected results of operations | Item 5.A Operating Results See subheading – “Likely developments and expected results of operations”
Environmental regulations | Item 5.A Operating Results See subheading – “Environmental regulations”
Dividends | Item 4.B Business Overview See subheading – “Dividends”
Information on directors | Item 6.A Key Management Personnel See subheading – “Details of Directors and Senior Management”
Remuneration report | The Remuneration report starts at Item 6 and ends part way through Item 6.B as indicated
Indemnification of officers | Item 6.B Compensation See subheading – “Indemnification of officers”
Proceedings on behalf of the group | Item 6.B Compensation See subheading – “Proceedings on our behalf”
Non-Audit Services | Item 6.B Compensation See subheading – “Non-audit services”
Auditor’s independence declaration | Exhibits 99.2
Directors’ Resolution | Item 6.B Compensation See subheading – “Directors’ resolution”

5. | Audited Financial Report 2021

This preliminary final report has been based on accounts which have been audited. The independent auditors report includes the following statement:

We draw attention to Note 1(i) in the financial report, which indicates over the next twelve months in order to meet forecast expenditure, including repayment of the Hercules debt facility, cash inflows will be required. The ability of the Group to continue as a going concern is dependent on completing either one or more strategic partnerships or restructuring existing loan agreements. The dependency on these planned events indicate that a material uncertainty exists that may cast significant doubt on the Group’s ability to continue as a going concern. Our opinion is not modified in respect of this matter.

A copy of the audited Financial Statements for the year ended 30 June 2021 is included in Item 18 Financial Statements within the Form 20-F.

- End of Appendix 4E -