WKN: 893268
Handel in: Australien,
und in : Berlin, Frankfurt, Hamburg, Stuttgart, Xetra
News sind im Kurs noch nicht eingerechnet !!!
Good trade
Title: SFM Ann.
SFM - ASX Company Announcement
$mtl7 THIS IS A PRIORITY ITEM
1 March 2000
Part 1/1
--------
ST FRANCIS MINING LIMITED
-------------------------
HOMEX - Perth
-------------------------
Business Acquisition/Funding of new Acquisitions
ANOTHER BUSINESS ACQUISITION FOR ST FRANCIS
St Francis has entered Into an agreement to acquire a 40% interest in
I.T.Internet-Traders Co.,Ltd the owner of Thailand's leading web
portal, eThailand.com
St Francis has been invited to nominate 2 persons to sit on the 5
person Board of Directors of I.T.Internet-Traders Co Ltd.
The directors of I.T.Internet-Traders Co.,Ltd intend to immediately
seek a listing for this company on the Thailand Stock Exchange and
thus become the first Internet stock listed on the Thai Exchange.
ABOUT eTHAILAND.COM
Web portal eThailand.com was established in December 1998 to provide
the international business community with an exhaustive and real time
source of news and information on Thailand. Owned by I.T.
Internet-Traders Co. Ltd (iTiT), the site gives full details of
investment opportunities and covers all aspects of how to work and
live successfully in Thailand. The site is updated four to five times
a day.
eThailand.com is deriving income from extensive banner advertising and
is currently finalising its entry into the B2B (Business to Business)
and eCommerce markets.
eThailand.com is already sparking strong interest around the world.
Just four months into a pre-launch limited service, it is recording
1.5 million hits per month and 2000 visits per day with an average
online time of 12 minutes, according to US auditor webtrends.com.
The portal features a one-page homepage containing up-to-the-minute
news and information in the fields of eBusiness, eCareers, eTravel,
eTechnology and eLifestyle, all culled from 1000 quality Thai data
base websites. The site is designed to facilitate speedy access, so
much so that no search should take longer than 10 seconds.
eThailand.com is Thailand's first online business encyclopaedia and
was established by Briton Kevin Moss The company was officially
launched to the market place in December 1999. The Bangkok-based web
portal targets and caters to international executives looking to
invest in Thailand.
eThailand,com is the gateway to detailed information about doing
business in and with Thailand. Whether researching business
opportunities, seeking information on Thailand's legal system or
looking for advice on the best school for your child, the
comprehensive nature of this portal means that all the answers are at
your fingertips.
The company that owns and services eThailand.com, I.T.Internet-Traders
Co. Ltd., has wasted no time in consolidating on this early success
by forming strategic partnerships with six of Asia's most prestigious
businesses in their respected fields: the Bangkok Post, e-recruitment
matchmaker JobsDB.com, Bartercard, The Sukhothai Hotel, inbound tour
operator Diethelm, and IT news provider Ziff Davis Asia Pacific.
The Web portal is currently being translated into Thai, thus opening
up an even larger market.
The total acquisition cost is US$2.5 million. Of this amount, US$1.25
million is being used to acquire 40% of the shares on issue in
I.T.Internet-Traders Co.,Ltd and a further US$1.25 million being
provided as working capital to I.T.Internet-Traders Co.,Ltd for the
on going development of the portal eThailand. Under the Agreement an
amount of US$380,000 was required to be paid by 29th February 2000.
This amount has been paid.
St Francis has made a separate announcement today as to how it
intends to fund this acquisition.
I Sandover
DIRECTOR
FUNDING OF NEW ACQUISITIONS
Following today's announcement regarding the purchase of a 40%
interest in eThailand.com, the recent announcement regarding the
acquisition of Gas Research Australia Ltd and the ongoing development
of Bluefire Gas Ltd, the Company will require additional capital.
The Board of St Francis wish to give shareholders the opportunity to
participate in the ongoing expansion of the Company.
There will be three stages to the new funding package:
1. It is proposed that St Francis will issue a prospectus for a
non-renounceable pro rata rights offer of up to 261,094,363 fully
paid ordinary shares at a price of 2.9 cents per share to
Shareholders of the Company on the basis of 1 new Share for every 4
Shares held on the registration date, to raise approximately
$7,571,737.
2. On finalisation of the rights issue, the Company will seek
shareholder approval to reconstruct its then existing capital on the
basis of 1 share for each 10 currently held, Options currently on
issue will be reconstructed on a similar basis, Based on the current
market for the company shares as at today's date we would expert the
reconstructed shares to trade around 32 cents to 40 cents.
3. It is then proposed that the Company will undertake a pro-rata
non-renounceable options issue on the basis of 9 options for every 10
shares held after the reconstruction. The price of the options will
be issued for an issue price of 2.0 cents per option with an exercise
price of 20 cents per option and an expiry date of 31 May 2002.
It is proposed that these issues will be completed as quickly as
possible.
The Company has commenced talking with potential underwriters of the
issue.
St Francis Mining Ltd is:
* Debt free,
* Has approximately $1.2 million dollars in the bank,
* Has an agreement to acquire 40% of eThailand.com.
* Owns 100% of Bluefire Gas Ltd'
* Owns 100% of Gas Research Australia Pty Ltd.
* Owns 50% of the Chacarilla Copper Project in Bolivia, and
* Owns 100% of various Gold and Nickel ****ets, including a gold
processing plant, at Coolgardie in Western Australia.
* Listed on the OTC markets in Berlin, Frankfurt, Hamburg, Stutgart
and Munich.
* Continues to actively negotiate and seek other business
opportunities.
Has a proven track record of acquisition and divestment.
I Sandover
DIRECTOR
ends - AAP
--------------------------------------------------
|
Thread abonnieren
