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JATCORP LIMITED — Capital/Financing Update 2015
Apr 9, 2015
65154_rns_2015-04-09_f7a79424-d3c5-476d-b3e9-6834e80bd3f9.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
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ASX ANNOUNCEMENT
10 April 2015
Nanyang and Jatenergy Signed Share Sale Agreement
The Board of JAT Energy (“JAT” or the “Company”) are pleased to announce that an amended Share Sales Agreement (“Agreement”) has been signed to reflect that the Nanyang City Ling Feng Technology Co. Ltd (“Nanyang”) will receive Earnout Shares instead of Performance based shares
Earnout Shares under the Agreement have been defined as:-
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(a) ( First Earnout Shares ): If the Net Profit After Tax (“NPAT”) for the First Year is an amount in excess of $600,000, JAT must issue the First Earnout Shares to the value of $4.8 million to the Vendors in their Specified Proportions at the Earnout Issue Price not later than 5 Business Days after the date on which the NPAT for the First Year is accepted by the Vendors' Representative or taken to be accepted under clause 6.7 or, if applicable, finally determined under clause 6.8, whichever is the later.
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(b) ( Second Earnout Shares ): If the NPAT for the Second Year is an amount in excess of $1.2 million, JAT must issue the Second Earnout Shares to the value of $4.8 million to the Vendors in their Specified Proportions at the Earnout Issue Price not later than 5 Business Days after the date on which the NPAT for the Second Year is accepted by the Vendors' Representative or taken to be accepted under clause 6.7 or, if applicable, finally determined under clause 6.8, whichever is the later.
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(c) ( Third Earnout Shares ): If the NPAT for the Third Year is an amount in excess of $1.8 million, JAT must issue the Third Earnout Shares to the value of $4.8 million to the Vendors in their Specified Proportions at the Earnout Issue Price not later than 5 Business Days after the date on which the NPAT for the Third Year is accepted by the
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(d) Vendors' Representative or taken to be accepted under clause 6.7 or, if applicable, finally determined under clause 6.8, whichever is the later.
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(e) ( Fourth Earnout Shares ): If the NPAT for the Fourth Year is an amount in excess of $2.4 million, JAT must issue the Fourth Earnout Shares to the value of $4.8 million to the Vendors in their Specified Proportions at the Earnout Issue Price not later than 5 Business Days after the date on which the NPAT for the Fourth Year is accepted by the Vendors' Representative or taken to be accepted under clause 6.7 or, if applicable, finally determined under clause 6.8, whichever is the later
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(f) ( Fifth Earnout Shares ): If, and only if, the NPAT for the Fifth Year is an amount in excess of $3 million, JAT must issue the Fifth Earnout Shares to the value of $4.8 million to the Vendors in their Specified Proportions at the Earnout Issue Price not later than 5 Business Days after the date on which the NPAT for the Fifth Year is accepted by the Vendors' Representative or taken to be accepted under clause 6.7 or, if applicable, finally determined under clause 6.8, whichever is the later
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The Earnout Issue Price i s the volume weighted average price of the Shares traded on the ASX in the 30 days immediately preceding the applicable Earnout Shares Issue Date
About Jatenergy
Jatenergy (ASX: JAT) is an ASX listed energy investment company, focused on conventional, second generation and energy conversion technologies. Jatenergy also trades in soft commodities, acquires projects and technologies, and creates value through its extensive marketing and promotion activities.
Media and Management Contact
Tony Crimmins +61 2 9571 8300 [email protected]
About Jatenergy Directors Jatenergy Limited ABN 31 122 826 242 Jatenergy Limited is a Sydney-based diversified Tony Crimmins energy company operating in both Australia and Executive Chairman ASX code JAT Asia. Jatenergy’s strategic focus is on producing Mr Xipeng Li cash returns from its trading and coal assets as Non-Executive Director Ordinary fully paid shares well as implementing the proprietary 130,345,729 technologies for upgrading low grade coal and Mr Wilton Yao recovery of energy materials from waste Non-Executive Director materials.