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ORCODA LIMITED — Capital/Financing Update 2012
May 27, 2012
65482_rns_2012-05-27_e9b25e13-7714-4fbe-8688-61774c058022.pdf
Capital/Financing Update
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28 May 2012
Placement and Share Purchase Plan
SmartTrans Holdings Limited intends to raise up to $770,000 being $270,000 from an initial placement and up to $500,000 from shareholders via a Share Purchase Plan.
SmartTrans has agreed to place 24,545,455 fully paid ordinary shares at 1.1c each to raise $270,000. These shares will be issued to sophisticated and exempt investors, with the majority to be issued to a new strategic investor. SmartTrans is finalising an arrangement with this strategic investor to provide SmartTrans with access to members of associated loyalty schemes in China. Under the arrangement, SmartTrans will receive a royalty on all financial transactions made by those members.
To provide shareholders with an opportunity to participate, SmartTrans intends to offer eligible shareholders holding shares at 5pm on 25 May 2012 (Record Date) the opportunity to participate in the share purchase plan. The offer document will provide eligible shareholders with the opportunity to subscribe for up to $15,000 of shares at 1.1 cents per share. This offer document will be distributed to shareholders on or about 31 May 2012, with the offer scheduled to close on 22 June 2012.
The funds will be applied towards the new strategic alliance with the provider of the loyalty schemes in China, provide working capital and provide funds for promotional activity in China.
SmartTrans is also in advanced negotiations for VODOne to fund marketing campaigns and incentive-based offers to maximise the take up and usage of SmartTrans' VODOne mobile telephone lottery application.
On another topic, SmartTrans, in response to a request from Brazilian Government representatives, has provided a proposal to service certain requirements of the upcoming FIFA World Cup in Brazil.
For further information contact:
Bryan Carr Director SmartTrans Australia 0412 111 968 China +86 138 1188 8401
Beijing Melbourne Sydney P erth 6th Floor, West Tower, Level 7 G.05 Suite 3, Level 1 Prosper Center 11 Queens Road 55 Miller St 614 Newcastle Street 5 Guanghua Road MELBOURNE PYRMONT LEEDERVILLE BEIJING CBD, 100022 VIC 3004 NSW 2009 WA 6007 Ph: +86 (010) 8573 1101 Ph: (03) 9866 7333 Ph: (02) 9660 4564 Ph: (08) 9228 1199