how to claim a loss, page-9

Aussieyank, there had been a plan to relist NFL with an acquisition of an oil & gas business involving interests in California and New Zealand however that proposal presumably fell through as no meeting was ever held for NFL shareholders to vote on the proposal.

Notice was given to the ASX that NFL was in administration and shareholders got a Notice of Meeting for certain resolutions to be voted upon to implement the proposed DoCA. That vote was successful hence why our number of shares were reduced 700 fold.


Roger10, a notice of meeting should be coming soon for the "acquisition" of the Charterhill Group. No doubt this will involve the voting on new directors, the acquisition, issue of new shares and a change of name.


Charterhill Group welcomes Natural Fuel acquisition
Updated 14 June 2013

SA-based accounting group, Charterhill has welcomed its acquisition by Natural Fuel Ltd.

“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.”

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, to be concluded within 30 days and have begun preparing necessary documentation for execution as well as documentation for shareholder approval.

Charterhill Group of chartered accountants has specialised since 1998 in real estate procurement and property portfolio building solutions for retirement planning and Self Managed Super Fund property structuring.

Charterhill Group has offices in Victoria, NSW, Queensland and WA, with a national retail distribution network administered from head office in SA.

“Charterhill 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,” says George Nowak.

In 2012, Charterhill Group processed property transactions to the value of about $131m 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

It is understood the acquisition of Charterhill Group will provide for the reinstatement 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.

http://www.charterhill.com.au/en/