When is the agm??, page-8

Kelvin Park P/L v. Fairstar Resources Ltd (CIV 2067/2015)

well they're at it again! the were at the DMP wardens court on 13 feb 2015

This is from Circular to Shareholders april 2012

Background for Resolution 3

The Company entered into a Convertible Note with Kelvin Park Pty Ltd on 13 February 2012 whereby Kelvin Park advanced the sum of $1,000,000 to the Company. Kelvin Park has the right to convert the debt, or any part thereof, to shares in the Company at an exercise price of 7 cents, which means the maximum number of shares the Company may be obliged to issue to Kelvin Park is 14,285,714. The other terms of the Convertible Note Agreement are as follows: (a) Interest is payable on the sum of $1,000,000 at the rate of 12.5 per cent per annum to be paid quarterly in arrears. At the election of Kelvin Park Pty Ltd the interest may be satisfied through the issue of shares in Fairstar Resources at an issue price of 3 cents. The maximum number of shares which may be issued in satisfaction of the interest component is 4,166,667, which shares will if necessary be issued from the Company’s placement capacity. (b) The term of the convertible note expires 31 January 2013. The Company seeks approval to issue the shares in anticipation of Kelvin Park electing to convert the debt to equity so the issue of the shares does not count towards the Company’s 15 per cent placement capacity. 9 For the purposes of Listing Rule 7.3 the Company provides the following information: (a) the maximum number of securities to be issued is 14,285,714; (b) the Shares will be issued within 3 months of the date of this meeting or such later date as approved by ASX. It is intended that the Shares will be allotted progressively; (c) the shares will be issued when Kelvin Park issues a notice to the Company requiring the allotment of the shares; (d) the issue price of the shares will be 7 cents per share; (e) the shares will be allotted to Kelvin Park Pty Ltd; (e) the shares will be allotted to Kelvin Park Pty Ltd; (f) the shares will be issued on the same terms and conditions of the Company’s existing ordinary shares; (g) no funds will be raised from the issue of the shares as the Company has already received the sum of $1,000,000 from Kelvin Park Pty Ltd.