Aj Lucas Group Limited · ASX:AJL
Aj Lucas — Shareholder Meeting (December 2011)
11 slides from Aj Lucas's shareholder meeting presentation, Dec 22, 2011
Slide 1: 2011 Extraordinary General Meeting
2011 Extraordinary General Meeting 22 December 2011 Macquarie Park, Sydney
Slide 2: Recapitalisation Plan
ted Recapitalisation Plan
Slide 3: Recapitalisation Plan
Recapitalisation Plan Placement of 15% of share capital @ $1.35/share to raise $13.4 million (completed September 2011) Two year $86.5 million mezzanine loan facility at an interest rate of 8.0% for first 12 months, increasing thereafter Underwritten non-renounceable one for two rights issue a
Slide 4: Effect of Recapitalisation
Effect of Recapitalisation Restores net working capital to surplus Repays amounts owing on RCPS and to ATO Substantially deleverages the Company – gearing ratio reduced from 51.1% to 38.2% Substantially reduces funding costs and improves cash flow Provides additional working capital to sup
Slide 5: Pro-Forma Historical Balance Sheet at 30 June 2011 (after Recapitalisation)
Pro-Forma Historical Balance Sheet at 30 June 2011 (after Recapitalisation) Statutory Kerogen Cuadrilla Mezzanine Repay ATO and $'000 30/06/11 Placement Subscription Loan RCPS Buyback Rights Issue ANZ Pro-forma 2011 Current Assets Cash 1,348 13,389 (10,108) 85,000 (59,159) 48,219 (70,067) 8,622 Othe
Slide 6: Resolutions
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Slide 7: Resolution 1: Selective Buy Back of RCPS
Resolution 1: Selective Buy Back of RCPS “That the Company approve the selective share buy back of 450,000 redeemable convertible preference shares (RCPS) at the conversion amount (calculated in accordance with clause 4.4(b) of the RCPS terms) per RCPS in accordance with section 257D(1) of the Corpo
Slide 8: Resolution 2: Approval of issue of options to Fund
Resolution 2: Approval of issue of options to Fund “That the issue by the Company of a total of 1,000,000 options over ordinary shares in the Company for an issue price of $0.01 and with an exercise price for each share of $2.13, to certain funds managed by Goldman Sachs & Partners Australia PIA (Ma
Slide 9: Resolution 3: Approval of issue of options to Kerogen
Resolution 3: Approval of issue of options to Kerogen “That the issue by the Company to Kerogen Investments No.1 (HK) Limited of 18,566,763 options over unissued ordinary shares in the Company at an exercise price per share of the lower of a 20% premium to the 5 day VWAP of the shares on the ASX to
Slide 10: Resolution 4: Approval for Andial to sub-underwrite the Rights Issue
Resolution 4: Approval for Andial to sub-underwrite the Rights Issue “That the subscription for shares by Andial Holdings Pty Ltd, and participation of Andial as a sub-underwriter of the Rights Issue, be approved for all purposes” FOR 29,225,278 92.66% OPEN 182,260 0.57% AGAINST 2,135,973 6.77% ABST
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A.J. Lucas Group — Shareholder Meeting (December 2011) on 6ix