Ann: Completion of Pearl Transaction and Capital Raising, page-7

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rastes

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01/12/15

19:25

Post #: 16523281
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Originally posted by gassed ↑

Exactly as anticipated weeks ago!! It's ALL about Pearl. Like to see the latest Top 20, but, this one's way out of my hobby range and strictly for the patient and brave. Be interesting to see how the market reacts.
Now, for me, quoting the most famous of all bunnies, that's all folks. Been nice knowing most of you. What are you all going to talk about now??

Post-acquisition changes: Pearl Global’s key personnel will take management and board control post CTR’s Stage 1 acquisition. CTR will likely in time divest the oil interests, change its name to Pearl Global and will eventually seek to move to the Industrial classification from the Resources ASX sector. To accelerate and support recycling plant roll-outs we envisage oil revenues, sale of the petroleum assets and/or a modest equity raising of $3 to 5m within the next year.
CTR’s Board and Management – transitioning to Pearl Global Gary Foster – is the Chairman of Pearl Global Pty Ltd and one of its key principal financiers and largest shareholder in the seven-year development of the Erasmus technology to commercial plant stage. Upon conclusion of the CTR acquisition of 40% of Pearl Global, a change of Board will occur, focusing on Pearl management coming in to grow the Company. Gary is currently managing director and a founder of Transaction Solutions International Limited. TSI owns and deploys financial hardware and infrastructure for Banks and institutions. Currently focussed on India, TSI owns bank branded Automatic Teller Machines and automated Bill Payment Solutions for the major banks and corporates in India.

Philip Erasmus – is the inventor of the endothermic Pyrolytic Catalytic Cracking of classified toxic waste products, in a controlled manner within an atmospherically sealed vessel with minimal atmospheric discharge. This process and apparatus - safely and economically recovers commercially valuable products and is locally patented. He remains as technical director of Pearl Global to further optimise the process.

Andrew Drennan – Pearl Global’s Technical Director, operations head and is an ex-BHP Billiton environmental manager. Victor Turco – Group Accountant and Financial Officer, is a practising CPA with broad local and overseas experience. CTR/Pearl Global will seek to add a Chairman with multi-jurisdiction business experience. Later additional directors and executives with skills to support growth plans. CTR’s current directors – Two of the three CTR directors Brett Mitchell, Anthony Eastman and Peter Landau will remain for at least the initial transition of the company’s activities. One will leave and Pearl Global will have three nominees

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Goodbye, sleep well : )

CTR Price at posting: 5.8¢ Sentiment: None Disclosure: Held
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