I'd be asking for my money back. What a disgrace - $63K traded and 30% underwater.
11.5 LEAD MANAGER MANDATE
The Company engaged Novus (the Lead Manager) as its exclusive sponsoring broker and corporate and financial
adviser to manage the Offer (Lead Manager Mandate). Under the Lead Manager Mandate and in respect of the Offer,
the Company has agreed to pay the Lead Manager:
(a) a monthly advisory and work fee of $10,000 (plus GST) per month for 4 months (i.e. $40,000);
(b) a sponsoring broker fee of $44,000 (plus GST);
(c) a management fee of 1% (plus GST) of all capital raised under the Offer;
(d) a placement fee of 5% (plus GST) of all capital raised under the Offer;
(e) a success fee of $70,000 (plus GST); and
(f) 400,000 Options if the Company raises between $6,000,000 and $7,499,999 or 1,000,000 Options if the
Company raises $7,500,000 (each Option with a 2 year term and an exercise price of $0.30).
The Lead Manager will be retained exclusively for 6 months after the completion of the IPO to provide equity capital
markets advisory services and post listing management. At the end of the term, the Lead Manager Mandate will
continue on a rolling 60-day basis until a party issues terminates the arrangement in writing with 60 days’ notice.
After the Company lists on the ASX, the Lead Manager will be entitled to receive $6,500 per month for its service.
Either the Company or the Lead Manager may terminate the Lead Manager Mandate with immediate effect if the
other party has materially breached its obligations and has failed to rectify this breach after one months’ notice. If the
Company terminates the Lead Manager Mandate prior to the IPO or within the first 6 months after the completion of
the IPO, the Company will be liable to pay a $80,000 break fee in addition to all other fees and expenses accrued at
the date of termination.
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