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1. IMPORTANT NOTICE
The Agreement provided for the grant to the Company of the right but not
the obligation to acquire the Gold Assets from WWI for 7,318,040,445 Shares
or such other number of Shares that will ensure that WWI owns 85% of the
outstanding share capital of the Company (Vend-in Price) at any time until
and including 31 August 2011 (Call Option). The number of Shares
proposed to be issued based on the current and anticipated capital
structure of the Company is 5,901,373,778 Shares.
The Agreement also provided for the right but not the obligation for WWI to
sell the Gold Assets to the Company at the Vend-in Price at any time until
and including 31 August 2011 (Put Option).
Please note that as the Agreement has lapsed, the Company will not be
extending a loan to WWI via a secured convertible note being for $650,000
as detailed on page 13 of the Prospectus.
Please note that there has been no change to Section 4.1 of the
Prospectus. Section 4.1 of the Prospectus is included for information
purposes only to assist with reading this Supplementary Prospectus.
The table below sets out the intended application of funds raised under
the Prospectus on the basis of the Company raising the minimum
subscription ($1,500,000) and full oversubscription ($2,500,000) under the
Offer:
Notes:
Refer to Section Error! Reference source not found. of this Prospectus for further
details relating to the estimated expenses of the Offer.
Deleting the whole of this Section and replacing it with the following:
The Company will continue to evaluate these opportunities over the next
quarter.
As detailed in Section 4.1, assuming full subscription under the Offer, $1,000,000
is intended to be used to develop the current going concern of the media
library and $1,500,000 is intended to be used for other investment opportunities
that the board sees fit that could return value to shareholders".
5. DIRECTORS’ AUTHORISATION
This Supplementary Prospectus is issued by the Company and its issue has been
authorised by a resolution of the Directors.
In accordance with Section 720 of the Corporations Act, each Director has
consented to the lodgement of this Supplementary Prospectus with the ASIC.
_____________________________
Harry Fung, Director
for and on behalf of
MUI Corporation Limited