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JATCORP LIMITED — Capital/Financing Update 2012
Oct 31, 2012
65154_rns_2012-10-31_dab403e4-f183-47c8-a145-441fb2389fba.pdf
Capital/Financing Update
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JATENERGY LIMITED
ABN 31 122 826 242
ASX CODE: JAT
AUSTRALIAN REGISTERED OFFICE
Floor 6, Suite 8 55 Miller Street PYRMONT NSW 2009 AUSTRALIA
CONTACT DETAILS
Telephone +61 2 9571 8300 Facsimile +61 2 9571 8200 Email [email protected] Web www.jatenergy.com
ASX ANNOUNCEMENT
1 November 2012
LAUNCH OF JATENERGY DEVELOPMENT PTY LTD AND $1 MILLION INVESTMENT TO PROMOTE JATENERGY ASSETS
HIGHLIGHTS
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Jatenergy Development Pty Limited established as a joint venture (JV)
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$1 million invested in JV by Shanghai businessman
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JV to support marketing of Jatenergy’s coal, Coal Plus and jatropha assets.
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The board of Jatenergy is pleased to announce the launch of a subsidiary joint venture (JV) company, Jatenergy Development Pty Limited, to support the marketing of its coal, Coal Plus and jatropha assets, and the receipt of $1 million from our joint venture partner to fund the operations of the JV.
Jatenergy has made a strategic decision to establish Jatenergy Development as a special marketing and development vehicle with the necessary funding to promote the company’s assets throughout China and Southeast Asia. Our joint venture partner is Mr Caiguo Shang, a Shanghai businessman who has invested $1 million in the JV in exchange for 25% equity ownership.
As detailed in recent announcements, Jatenergy is opening up its mining operations in Kalimantan. The company will use the JV to generate sales from these operations.
The joint venture also enables Jatenergy to actively promote its Coal Plus technology throughout Australia and Southeast Asia, with initial focus on Victoria’s Latrobe Valley, Indonesia and the Philippines, to capitalise on the strong interest in the technology from many coal miners, financers and industrial construction companies.
There is significant interest in Coal Plus from the Chinese government owing to its ability to :
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increase the amount of energy extracted from coal, and
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reduce carbon emissions.
Biofuels such as biodiesel, seedcake and bio-coal, a combination of coal and plant material, are also much needed energy sources in demand in both developed countries and developing countries such as Indonesia. Jatenergy Development will actively search for customers and niche markets into which it can promote Jatenergy’s environmentally-beneficial biofuel products.
The placement into Jatenergy Development does not affect the current capital structure of Jatenergy Limited; instead allowing the JV company to market the assets of Jatenergy without acquiring their title or ownership.
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Part of Jatenergy’s biofuel operations
Jatenergy’s operating Jongkang mine.
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An operating Coal Plus plant in China.
About Jatenergy
Jatenergy Limited is a Sydney-based diversified energy company operating in both Australia and Asia.
Jatenergy’s strategic focus is on increasing cash returns from its coal and jatropha assets, while reducing costs associated with and divesting itself of non-productive investments such as Katingan. Jatenergy is particularly focussed on the implementation of the proprietary Coal Plus technology for upgrading low grade coal into high value energy products.
About Mr Shang
Mr Caiguo Shang is a Shanghai businessman who has built his company Shanghai Rubber Sales Co Ltd from a domestic provider in China into a global provider of rubber seals for engines and associated rubber for all types of vehicular transport. The company produces 30 million oil seals and over 100 million other rubberrelated products annually. Mr Shang has good business networks in China, which will help Jatenergy to establish more business connections in the Chinese market.
Media and management contact
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Tony Crimmins 02 95718300 [email protected]
About Jatenergy Jatenergy Limited is a Sydney-based diversified energy company operating in both Australia and Asia. Jatenergy’s strategic focus is on increasing cash returns from its coal and jatropha assets, while reducing costs associated with and divesting itself of non-productive investments such as Katingan. Jatenergy is particularly focussed on the implementation of the proprietary Coal Plus technology for upgrading low grade coal into high value energy products.
Directors Tony Crimmins Executive Chairman Richard Pritchard Non-Executive Director Mr Xipeng Li Non-Executive Director Mr Wilton Yao Alternate Director
Jatenergy Limited ABN 31 122 826 242 ASX code JAT Ordinary fully paid shares 84,190,568 Listed options 31,898,547