Ann: Company Update , page-5

Last news item on 3/9/13, although the 10/10/13 date for the NFL meeting is not possible as they have to give at least 4 weeks notice and the Notice of Meeting has not been issued yet.


Charterhill Group delays listing until December 2013

ADELAIDE chartered accountancy firm Charterhill Group's plans to the list on the Australian Securities Exchange have been postponed to December.

The company earlier this year it would be trading by end -September following completion of a back-door listing deal with WA company Natural Fuel.
The Australian Securities Exchange-listed WA company Natural Fuel Limited is set to acquire Charterhill in a share deal valued at up to $22 million.

"The companies are awaiting the finalisation of audited accounts for Charterhill as well as the finalisation of a convertible note issue raising of $4 million prior to finalising the acquisition value and executing a final share purchase agreement."

Charterhill, which offers real estate procurement and property portfolio building solutions for retirement planning and Self Managed Super Fund property structuring, has accepted $2.8 million of notes and continues to work towards getting the $4 million.

Buyers can either convert into shares to sell or hold once the company relists, or choose to sell them after a set term.

The funds will provide marketing funds and working capital for Charterhill and helps NFL meet its re-comply with listing rules.

Trading in Natural Fuel shares was suspended in 2009 - three years after listing - when it entered into voluntary administration following the collapse of its 50/50 Australian joint venture Natural Fuels Australia.

The proposed deal will give Charterhill 80 per cent control over the listed entity, which will recommence trading under a new name.

Shareholders will vote on the deal on October 10.

Charterhill has about 3500 ``mum and dad'' clients and offices in Victoria, New South Wales, Victoria, Queensland and Western Australia.

In 2012, Charterhill Group said it processed property transactions to the value of approximately $131 million.

Courtesy of Adelaide Now http://www.adelaidenow.com.au/business/charterhill-listing-delayed-to-dec/story-fni6uma6-1226709207596