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Ann: ANS: Proposed $100m Placement & Strategic Investment in Sund, page-206

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serena

10,370 Posts.

222

01/10/18

17:06

Post #: 35953169

Originally posted by malgmac ↑

Perhaps the ASX can read and understand English and have read the conditions in the ANS announcement regarding the placement in SDL

Quite a long list to be resolved before it is a done deal, and maybe the ASX have the same view and will want to see things happening before allowing trading again.

Column 1 Column 2

1 Conditions to Second Placement Completion
Completion of the Second Placement (“Second Placement Completion” is subject to the following conditions:
Any Noteholder that is not party to the Sundance Agreement agreeing to cancel its Convertible Notes and the other transactions involving the Noteholders as contemplated under the Sundance Agreement on the terms contemplated by the Sundance Agreement

In relation to AustSino’s investment in Sundance and the issue of shares by AustSino to fund the Completion Payment:

- approval by AustSino’s shareholders as required for the purposes of the ASX Listing Rules and Corporations Act 2001 (Cth) (“Corporations Act”;

- approval of any relevant legal or regulatory bodies or by any subscriber in connection with AustSino’s placement of shares to fund its subscription for the Second Placement; and

- an independent expert confirming that the relevant transactions are fair and reasonable, or not fair but reasonable, for AustSino’s shareholders

Completion of AustSino’s placement of shares to fund its subscription for the Second Placement

Extension of the time period for satisfying the conditions precedent under the Cameroon (Mbalam) Convention until at least 14 September 2020 or the entering into of a new Convention on substantially similar terms with such a minimum time period

AustSino and Sundance continuing to take reasonable steps to discuss and advance the development of the Sundance Project on an exclusive basis (subject to Sundance’s existing arrangements with Tidfore Heavy Equipment Group Co. Ltd relating to the Project) until 31 December 2018

AustSino and Sundance taking all reasonable steps to discuss and advance the Sundance Project with the Governments of the Republics of Cameroon and Congo, subject to Second Placement Completion

AustSino being satisfied that the Governments of the Republics of Cameroon and Congo are working towards signing a bilateral treaty by 31 December 2019 in support of the development of the Sundance Project

Column 1 Column 2

1
In relation to the investment in Sundance and the issue of securities
by Sundance:

- approval of Sundance’s shareholders as required for the purposes of the ASX Listing Rules and the Corporations Act; and

- an independent expert confirming that the relevant transactions are fair and reasonable, or not fair but reasonable, for Sundance’s shareholders

Sundance and AustSino not being insolvent at or prior to Second Placement Completion

The parties entering into definitive agreements

The parties must satisfy or waive these conditions on or before 31 December 2018 or as otherwise agreed.

Expand

For example, Trading Halt due to capital raising/right issue. Immediately after the release of the announcement regarding the capital raising/right issue, the trading halt is lifted although the actual realization of the capital raising will take 3 months including shareholders' approval.

The purpose of Trading Halt or voluntary suspension is to make sure that the company maintain continuous disclosure as per the ASX listing rule. So investors can not take advantage from others due to information gap.

SDL Price at posting: 0.6¢ Sentiment: Hold Disclosure: Held

0 Great analysis

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