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ASF GROUP LIMITED — Capital/Financing Update 2008
Jan 24, 2008
64323_rns_2008-01-24_cbba8490-3e09-4e42-82ae-835e7f871a13.pdf
Capital/Financing Update
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ASF GROUP LIMITED
ABN 50 008 924 570 Bennelong Suite 2, 3B Macquarie Street Sydney, NSW 2000, Australia Telephone: (61 2) 9251 9088 Facsimile: (61 2) 9251 9066 www.asfgroupltd.com
15 January 2008
ASF Group Ltd
Revised Use of Funds
The proposed application of funds raised under the Offer (Prospectus 2007) is summarised in the table below. Funds are intended to be expended over a 2 year period as follows:
| Description | Capital Raised |
|---|---|
| ($2,500,000) | |
| Property Business | |
| RealestateLicense | $500,000 |
| ProjectMarketing/Management | $200,000 |
| PropertyTrustDevelopment | $300,000 |
| Resources | |
| Mineralexploration(WA&Tasmania) | $500,000 |
| Potentialacquisitions | $500,000 |
| Travel Business | |
| Proposed business expansion | $200,000 |
| ASF Ventures | |
| Investments | $200,000 |
| Working Capital | |
| General | $100,000 |
| Total | $2,500,000 |
The above outline of the intended use of funds may be subject to change as the Company is presently in negotiations with potential joint venture partners which may reduce or alter the spending requirements. The above figures are based on the present existing circumstances and are the best estimate of the Board.