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Solagran is pleased to offer its shareholders the opportunity to participate in an Entitlement
Offer to acquire listed Contributing Shares with the ability to pay for the shares in three
instalments over the next two (2) years ("Rights Issue").
Over the past eighteen months, Solagran has been establishing its initial production facility at
Tomsk in Siberia. This development has been funded entirely by Solagran. In the past month
the Australian dollar cost of this development has increased significantly due to its depreciation
against the US dollar. Part of the initial proceeds from this Right Issue will be used to cover the
additional amounts required to meet our financial commitments in Tomsk.
The Tomsk facility was originally acquired through our acquisition of SiBEX announced in late
2006. We have further acquisition targets which can assist Solagran in speeding up its
commercial development program. Some of the funds raised in this Rights Issue may be used
for the evaluation and possible acquisition of these targets. Any balance of funds may be used
for working capital purposes.
Based on the ordinary shares and contributing shares currently on issue, this offer would raise
$2,067,437 in applications if fully subscribed and a further $2,067,437 on 30 November, 2009
followed by a final payment of $2,067,437 on 30 November, 2010. This constitutes a total of
$6,202,310 if this new Contributing Share issue is fully subscribed and paid up.
The details of the offer for Contributing Shares are described in this Prospectus. You should
have received a personalized Entitlement and Acceptance Application Form with this
Prospectus but if you are in any doubt, please contact the Share Registry.
There is a facility for the Directors to place any shortfall resulting from this Rights Issue
("Shortfall Offer"). Any non-shareholders who are interested in participating in the Shortfall
Offer should check this Prospectus for details.
Please note that the Closing Date for acceptances is 5.00pm WST on Monday 8 December,
2008. If you wish to participate in this Rights Issue of Contributing Shares it is essential that
your completed Entitlement and Acceptance Application Form is received by the Company’s
Share Registry by this time.
I would like to take this opportunity to thank all Solagran shareholders for your continued
support and we look forward to further progress with the Company’s commercial development.