( Subject to deed of company arrangement)
ABN 90 118 710 508
Level 1, 8-12 Market Street
Fremantle WA 6160
t: +61 8 9431 9888
f: +61 8 9431 9800
www.citation.net.au info@citation.net.au
11 July 2017
ASX Announcement
Company Announcements Office Australian Securities Exchange Level 6, 20 Bridge Street
SYDNEY NSW 2000
Via E Lodgment
COMPANY UPDATE Capital RaisingCitation Resources Limited (subject to Deed of Company Arrangement) ('Citation' or the 'Company') (ASX: CTR) is pleased to announce that it is undertaking a Capital Raising via Public Offer of 25 million shares at an issue price of $0.20 per share to raise $5 million.
In addition to the purpose of raising funds under the Public Offer, the Prospectus is issued for the purposes of re-complying with the admission requirements under chapters 1 and 2 of the Listing Rules following a change in the nature and scale of the Company's activities.
The Offers are not underwritten.
Further details are provided in the Prospectus, which is attached.
For and on behalf of the Board
Citation Resources Limited (subject to Deed of Company Arrangement) Citation Resources Limited (subject to Deed of Company Arrangement)ACN 118 710 508
To be renamed Pearl Global Limited.
For the public offer of 25 million Shares at an issue price of $0.20 per Share to raise $5 million. The public offer also incorporates a priority offer to those persons who made an application to purchase shares under the Company's prospectus dated 23 October 2015, but who did not receive shares or a refund, up to the amounts returned to them pursuant to the DOCA and (as the case may be) the Landau Creditors' Trust or the Trust Creditors' Trust (Public Offer).
This Prospectus also contains separate offers to the Pearl Vendors (Vendor Offer) and other offers as detailed in the Prospectus (Other Offers). No funds will be raised from the Vendor Offer and a total of up to $3,600 will be raised from the Other Offers. Please refer to Section 6 for further details. In addition to the purpose of raising funds under the Public Offer, this Prospectus is issued for the purposes of re- complying with the admission requirements under chapters 1 and 2 of the Listing Rules following a change in the nature and scale of the Company's activities.
The Offers are subject to and conditional upon the satisfaction of the Offer Conditions. If the Offer Conditions are not satisfied, no Securities will be issued pursuant to this Prospectus and the Company will repay all money received from Applicants without interest.
The Deed Administrators of Citation Resources Limited (Subject to Deed of Company Arrangement) have delegated the authority to prepare and issue this Prospectus to Mr Victor Turco and Mr Bert Huys in their capacity as Directors. In this regard, this Prospectus has been prepared by the Directors and the Deed Administrators are not responsible for its contents. Accordingly, the Deed Administrators and their servants, agents and employees do not make any representation or warranty (express or implied) as to the accuracy, reasonableness or completeness of the information contained in this Prospectus and do not accept responsibility or liability for the accuracy of any information included, or any failure to include information in this Prospectus.The Offers are not underwritten.
Important information: This Prospectus provides important information to assist prospective investors to decide whether or not to invest in the Company. It should be read in its entirety. If you do not understand it, you should consult your professional advisers. THE SECURITIES OFFERED BY THIS PROSPECTUS SHOULD BE CONSIDERED SPECULATIVE.Lead Manager | Solicitors |
Contents
Corporate directory 2
Important notices 3
Company overview and Recapitalisation Proposal 6
Key information and indicative timetable 11
Investment overview 12
Details of the Offers 26
Pearl & industry overview 35
Investment risks 40
Material contracts 48
Financial Information and Investigating Accountant's Report 60
Directors, substantial Shareholders & corporate governance 75
Additional information 90
Directors' authorisation 100
Glossary 101
Annexure A: Pearl Vendors 107
Annexure B: Pearl Noteholders 109
Annexure C: Accounting policies 110
Application Form 115
2
1 Corporate directoryDirectors | Lead Manager |
Mr Victor Turco Non-Executive Director Mr Bert Huys Non-Executive Director | Cadmon Advisory Pty Ltd Level 31, 120 Collins Street MELBOURNE VIC 3000 Tel: +61 3 9225 5389 Email: group@cadmon.com.au Website: www.cadmon.com.au |
Company Secretary | Investigating Accountant |
Phillip Macleod | Grant Thornton Corporate Finance Pty Ltd Level 17 383 Kent Street Sydney NSW 2000 |
Company's Registered Office | Share Registry* |
Citation Resources Limited (Subject to Deed of Company Arrangement) Level 1, Wesley Central, 8 - 12 Market Street, Fremantle WA 6160 ASX Code: CTR Tel: +61 8 9431 9888 Email: turco@turco.com.au Website: www.citationresources.com.au | Computershare Investor Services Pty Limited GPO Box 52, Melbourne VIC 3001 Tel: +61 3 9415 4000 Web: www.computershare.com/au |
Solicitors | Auditor* |
Lavan Level 20, The Quadrant 1 William Street PERTH WA 6000 | Grant Thornton Audit Pty Ltd Level 1, 10 Kings Park Road West Perth WA 6005 |
*This entity is included for information purposes only. It has not been involved in the preparation of this Prospectus.
Citation Resources Ltd. published this content on 22 November 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 22 November 2017 07:59:03 UTC.
Original documenthttp://citationresources.com.au/media/articles/ASX-Announcements/20171122-Original-Prospectus-10-July-2017-367/CTR-Announcement-Prospectus-11-07-17-merged.pdf
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