uranium baby, page-7

re: uranium baby what a beauty: update on u demerg Geezuz... vastly contradictory to the story TCG was spun two weeks ago!

Within two weeks I believe TCG was told.

Perhaps if i ring in Feb 07... they will be hoping to have it completed by year's end?!

Honestly... 'regulatory compliance regimes' (not having a go at you profittrader)... if what you say profittrader about Feb next year, it is nothing short of OUTRAGEOUS.

From the 11/07/2006 update (over three months ago now):


Progress Update

Arafura has undertaken the following steps to commence the processes required to achieve the
restructure:

1. Appointed all the required advisers including legal, corporate, taxation and independent technical experts.

2. Approved the demerger process which the Board believes delivers the best outcome for Arafura shareholders.

3. Received legal and taxation advice in relation to the restructure.

.
..
...

The Restructure Process

The demerger is subject to the approval of Arafura’s shareholders, which will be sought at aGeneral Meeting of the Company the date of which will be subject to further notice. Arafura will undertake a nonrenounceable
rights issue to raise sufficient working capital for the new company and to meet its listing requirements.

.
..
...

The following is a summary of the steps required to achieve the demerger:

Step 1 Finalising terms of the restructure including acceptable terms of underwriting for the rights issue.

Step 2 Arafura will seek shareholder approval for the demerger (with notice to option holders as required under option holder terms and conditions)

Step 3 Arafura will undertake a nonrenounceable
rights issue to raise sufficient working capital and to meet the listing requirements for the new company.

Step 4 Arafura will transfer its uranium assets and working capital into the new company.

Step 5 Arafura shareholders and option holders will receive shares and options respectively in the new company in direct proportion to their shareholdings and option holdings in Arafura. The existing Arafura option exercise prices will be reset in accordance with
Australian Stock Exchange Listing Rules.

Step 6 Securities in the new company will be listed on the Australian Stock Exchange via a compliance listing

.
..
...

Process Forward

Management is currently in the process of preparing the documentation required for the approval, Rights Issue and compliance listing processes and approvals. The announcements to shareholders and the market will be made at the appropriate time.



What on earth has happened to keeping shareholders informed??

Mgmt would really want to get this one right. Just take a look at JPR over the last two weeks and the effect of not keeping shareholders properly informed.

If there are delays... just come out and confess to it.

It certainly keeps ones credibility in check better than ever-lasting periods of silence, topped with chat-site spread rumours of "red-tape" style delays.

I would like to know from the horses mouth just how far they are down the 6-step list they published 3 months ago.

The demerger plans were announced almost 6 months ago!

No more calls for patience... ARU would want to release a meaningfull and informative release regarding the NuPower progress VERY SOON... or the market will start laughing harder than it was after the SPP earlier this year!

February... I just can't get my head around that, it would be pathetic.

No more comments about "ring the company yourself" either... they have clearly got more sides to the story then there are Shareholders.