In 2012, Charterhill Group processed property transactions to the value of approximately $131 million showing an audited EBITDA of $5.5 million.
Charterhill are very pleased to announce being acquired by Natural Fuel Ltd. Natural Fuel has executed a Term Sheet with Charterhill Group to acquire 100% of the Charterhill Group business for an acquisition value of $22 million The Companies are finalizing Due Diligence processes on each other, which is anticipated to be concluding within 30 days. In the expectation of concluding the arrangements the Parties have commenced preparation of necessary fuller documentation for execution as well as documentation for shareholder approval. “This is a very successful development for the Charterhill Group as it successfully capitalizes us for significant growth,” said George Nowak, CEO and soon to be Chairman of the Board of Natural Fuels Ltd. “The relisting of Natural Fuels and subsequent capital raising will enable us to expand and grow our businesses which will be significant for future investors,” Nowak said. About Charterhill Charterhill Group are chartered accountants specialising since 1998 in real estate procurement and property portfolio building solutions for retirement planning and Self Managed Super Fund property structuring. Its vision is to assist as many Australians as possible to achieve a financially independent lifestyle thereby assisting them to have freedom of choice in retirement. Charterhill Group has offices in SA (Head Office), VIC, NSW, QLD and WA, with a national retail distribution network: • Retirement planning • Superannuation investing • Insurance services • Financial Planning • Finance sourcing • Accounting • Property Research including sourcing and supply • International pension fund establishment & service The Self Managed Super Fund Market in which Charterhill Group operates is large and growing. According to the Australian Taxation Office, at 30 June 2012, there were 478,263 Self Managed Super Funds holding total assets of $439 billion of which real property amounted to $66.4 billion. By 2028, total assets are forecast by leading analysts at $2.2 trillion of which $330 billion will be invested in real property. “Charterhill have now plans to grow the business both nationally and internationally within the accountancy and self managed super fund sector which Charterhill have been involved in since 1998,” Nowak said. In 2012, Charterhill Group processed property transactions to the value of approximately $131 million showing an audited EBITDA of $5.5 million and for 7 months to 31 January 2013 processed property transactions to the value of approximately $81 million showing an audited EBITDA of $3.39 million with a projected end of 2013 sales value of $180m and projected EBITDA of $6.0m The acquisition of Charterhill Group should provide for the re-instatement to trading of Natural Fuel when the transaction is completed. It is expected that the transaction will allow NFL to comply with Chapters 1 and 2 of ASX Listing Rules through a simple compliance process given Charterhill’s profit history and Net Tangible Assets.
