Found this by accident a few weeks ago, at first I thought it was typo. Then realized it was serious and laughed for about an hour…..
I then started to think who the winners were, I am sure it wasn’t the retail holders….
I wonder who put this little deal together in Aug-2011
Monitor Energy (Orca Energy) Greg Bandy - (RMP RRS link)
I think Komodo Capital was hanging around back then.
“Monitor Energy Limited (to be renamed Orca Energy Limited) ABN 25 009 121 644 Prospectus For the issue of up to 1,000 Shares at an issue price of $0.001 per Share to raise up to $1.00.
CORPORATE DIRECTORY
Directors Mr Jason Bontempo Mr Jeremy King Mr Greg Bandy Mr Mark Gwynne (resigned 15 August 2011) Mr Paul Kelly (resigned 15 August 2011) Company Secretary Ms Rebecca Sandford Registered Office 945 Wellington Street West Perth WA 6005 Telephone: +61 8 9322 7600 Facsimile: +61 8 9322 7602 Website: www.orcaenergy.com.au Sha……………………………
4.2 Financial effect After expenses of the Offer of approximately $25,000, there will be no proceeds from the Offer. The expenses of the Offer (exceeding $25,000) will be met from the Company’s existing cash reserves. The Offer will have an effect on the Company’s financial position, being receipt of funds of $1.00 less costs of preparing the Prospectus of $25,000.”
CTR’s words - Coincidence – note the wording, differences in blue. Surely there is not a standard template for this?
“Financial Effect of the Offer
After expenses of the Offer of approximately $9,904, there will be no proceeds from the Offer. The expenses of the Offer (exceeding $2,000) will be met from the Company’s existing cash reserves.
As such, the Offer will have an effect on the Company’s financial position, being receipt of funds of $2,000 less costs of preparing the Prospectus of approximately $9,904.”
CTR get $1999.00 more for $15k less costs, CTR are getting a real bargain…….
(20min delay)