BGD stock up to .26 this morning. Options are very cheap under...

BGD stock up to .26 this morning. Options are very cheap under .10
Shares also will be listed on Dubai stock exchnge as announced this morning.
Very positive Announcement out yesterday...
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BOULDER STEEL LIMITED
A.C.N 009 074 588
Head Office: Suite 4, 25 Anderson Street, Chatswood 2067
Telephone: (+ 61 2) 9413 1811 Fax: (+ 612) 9419 2818
Postal Address: PO Box 701, Chatswood NSW 2067, AUSTRALIA
E-mail: [email protected] Web: http://www.bouldersteel.com.au
29 March 2006
Company Announcements
The Australian Stock Exchange
20 Bridge Street
SYDNEY NSW 2000
Dear Sir / Madam
ANNOUNCEMENT
The visit of Boulder’s Dubai investor to ISMT, India resulted in the execution of an
MOU between ISMT and Boulder, defining the parties’ obligations and financing of the
USD 345 Million Australian Seamless Tube Project.
A successful meeting with the ISMT team led by Mr. B R Taneja, CEO, Mr. O P Kakkar,
Managing Director and Mr. R Goel, CFO at Pune in India with regard to the setting up of a
USD 345 million Seamless Tube plant in Australia has resulted in the execution of a
Memorandum of Understanding (MOU) between the two sides outlining their key obligations.
Boulder was represented in the meeting by Mr. Peter Wallner, Joint Managing Director and
the Dubai investor Mr. Abdulrahman Falaknaz. The meeting was also attended by
representatives from two UK based finance companies, i.e. Prime Asset Finance Limited and
Management & Finance Consulting Limited which are structuring the Project finance.
The main points of the MOU are:
1. ISMT will initially act as Project consultant for the Australian Seamless Tube Project.
2. The parties agreed to name the Project company Asia Pacific Seamless Tubes Limited
(“APST”)
3. Subject to the project’s final legal structure ISMT could acquire between 35% and
50% of APST’s equity.
4. The fees of ISMT’ scope of activities will be outlined in a Service Providing Contract.
Both parties are committed to closely co-operate on the financing of the Project.
5. The MOU is an addendum to the Cooperation Agreement between ISMT, Boulder
and Breitenfeld, which was announced to the market on 16 December 2005.
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6. The MOU will form the basis for a formal agreement between Boulder and ISMT to
be executed within 3 months from the signing of the MOU.
Yours faithfully
Boulder Steel Limited
Dr. Peter Wallner
Joint Managing Director
Deputy Chairman