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SPENDA LIMITED — Proxy Solicitation & Information Statement 2014
Dec 18, 2014
65849_rns_2014-12-18_f2f4820a-c92b-4166-883a-8143d63e59bf.pdf
Proxy Solicitation & Information Statement
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Motopia!Limited ABN!67!099!084!143
Notice!of!General!Meeting of!Shareholders
Date: 21 January!2015
Time: 10:30!am!AEDT
Place: Hotel!Charsfield,!478!St!Kilda!Road,!Melbourne,!VIC,!3004.
This!Notice!of!Meeting!should!be!read!in!its!entirety.!If!Shareholders!are!in!doubt!as!to!how! they!should!vote,!they!should!seek!advice!from!their!professional!advisers!prior!to!voting.
Motopia!Limited ABN!67!099!084!143
Notice!of!General!Meeting
Notice!is!hereby!given that!a!General!Meeting of the!shareholders!of!Motopia!Limited!ACN!099! 084!143!will!be!held!in!the!Webb!Room!at!the Hotel!Charsfield,!478!St!Kilda!Road,!Melbourne,! VIC,!3004, on!Wednesday, 21 January!2015 at!10:30 a.m. AEDT.
The!Explanatory!Statement to!this!Notice!of!Meeting!provides!additional!information!on!matters! to!be!considered!at!the!Meeting.!The!Explanatory!Statement!and!the!Proxy!Form!are!part!of!this! Notice!of!Meeting.
Terms!and!abbreviations!used!in!this!Notice!of!General!Meeting!and!Explanatory!Statement are! defined!in!the!Glossary.
1.!Agenda!for!the!Meeting
Resolution!1 – Approve!the!previous!issue!of!967,983,387 Shares
To!consider!and,!if!thought!fit,!to!pass,!with!or!without!amendment,!the!following!resolution!as!an! ordinary!resolution:
"That&for&the&purposes&of&ASX&Listing&Rule&7.4&and&all&other&purposes,&previous&issues of&a& combined&total&of&967,983,387 Shares, as&referred&to&in&the&Explanatory&Statement,&are& approved."
Voting!Exclusion!Statement: The!Company!will!disregard!any!votes!cast!on!this!resolution!by!any!person!who!participated!in!the! issue!or!received!a!benefit!and!any!of!their!associates.!!However,!the!Company!need!not!disregard!a!vote!if:
- it!is!cast!by!a!person!as!proxy!for!a!person!who!is!entitled!to!vote,!in!accordance!with!the!directions!on!the!proxy!form;!or
- it!is!cast!by!the!person!chairing!the!meeting!as!proxy!for!a!person!who!is!entitled!to!vote,!in!accordance!with!a!direction! on!the!proxy!form!to!vote!as!the!proxy!decides.!!
Resolution!2!– Approve!the!issue!of!Shares!with!a!total!combined!value!of!up!to!$1,000,000
To!consider!and,!if!thought!fit,!to!pass,!with!or!without!amendment,!the!following!resolution!as!an! ordinary!resolution:
"That,&for&the&purposes&of&ASX&Listing&Rule&7.1&and&all&other&purposes,&the&issue&of&Shares& with& a& total& combined& value& of& up& to& $1,000,000,& as& referred& to& in& the& Explanatory& Statement,&is&approved."
Voting!Exclusion!Statement: The!Company!will!disregard!any!votes!cast!on!this!resolution!by!any!person!who!may!participate!in!the! issue!or#might#obtain#a#benefit#and any!of!their!associates.!!However,!the!Company!need!not!disregard!a!vote!if:
• it!is!cast!by!a!person!as!proxy!for!a!person!who!is!entitled!to!vote,!in!accordance!with!the!directions!on!the!proxy!form;!or • it!is!cast!by!the!person!chairing!the!meeting!as!proxy!for!a!person!who!is!entitled!to!vote,!in!accordance!with!a!direction!on!the! proxy!form!to!vote!as!the!proxy!decides.!!
Resolution!3 O Election!of!Marcus!L'Estrange!as!a!Director
To!consider!and,!if!thought!fit,!to!pass,!with!or!without!amendment,!the!following!resolution!as!an! ordinary!resolution:
"That, Marcus&L'Estrange,&having&been&appointed&a&Director by&a&resolution&of&the&Board&of&Directors&in& November&2014,&offers&himself&for&election&pursuant&to&clause&20.3&of&the&Constitution&and&being&eligible,&is& elected&as&a&Director."
2.!Determination!of!voting!entitlement
For!the!purpose!of!determining!a!person's!entitlement!to!vote!at!the!Meeting,!a!person!will!be! recognized!as!a!shareholder!and!the!holder!of!Shares!if!that!person!is!registered!as!a!holder!of! those!Shares!at!7:00 p.m.!AEDT!on!19 January 2015.
3.!Votes
Unless!a!poll!is!demanded!in!advance!of!voting!on!a! resolution,!voting!on!each! resolution!will! initially!be!by!way!of!a!show!of!hands.!!On!a!show!of!hands,!each!member!present!in!person!or! by!proxy!or,!in!the!case!of!a!body!corporate,!by!a!representative,!shall!have!one!vote.
On!a!poll,!every!member!present!in!person!or!by!attorney!or!by!proxy!or,!in!the!case!of!a body! corporate,!by!a!representative,!shall!have!one!vote!for!each!share!held!by!him,!her!or!it.
4.!Proxies
A! Shareholder! entitled! to! attend! and! vote! is! entitled! to! appoint! a! proxy! to! attend! and! vote! instead!of!the!Shareholder.
Where!the!Shareholder!is!entitled!to!cast!two!or!more!votes,!the!Shareholder!may!appoint!two! proxies!and!may!specify!the!proportion!or!number!of!votes!each!proxy!is!appointed!to!exercise.
If!the!Shareholder!appoints!two!proxies!and!the!appointment!does!not!specify!the!proportion!or number!of!the!Shareholder's!votes!each!proxy!may!exercise,!each!proxy!may!exercise!half!of!the! votes.
A!proxy!need!not!be!a!Shareholder.
To! be! effective,! the! instrument! of! appointment! of! a! proxy! (and! power! of! attorney! or! other! authority,!if!any,!under!which!it!is!signed!or!a!certified!copy!of!that!power!or!authority)!must!be! received!by! the!Company!by!mail!at!PO!BOX!90 Kingsville!VIC!3012,!by! facsimile!on!+!61! (0)!3! 8678! 1747,! or! in! person! at! Suite! 313,! Pacific! Towers,! 737! Burwood! Road,! Hawthorn! East! VIC! 3123 by!10:30 a.m. AEDT!on!19 January!2015.
A!form!of!proxy!accompanies!this!Notice!of!Meeting.
Justyn!Stedwell Company!Secretary On!behalf!of!the!Board!of!Directors Motopia!Limited!
EXPLANATORY!STATEMENT
This!Explanatory!Statement!is!intended!to!provide!Shareholders!with!sufficient!information!to!assess!the! merits!of!the!Resolutions!contained!in!this!Notice.
The!Directors!recommend that!Shareholders!read!this!Explanatory!Statement!in!full!before!making!any! decision!in!relation!to!the!Resolutions.
Resolution!1 – Approve!the!previous!issue!of!967,983,387 Shares!
Background
From!18 July!2014!to!10 December 2014,!the!Company!issued!a!combined!total!of!967,983,387 shares! without!the!prior!approval!of!its!shareholders!and!in!accordance!with!ASX!Listing!Rule!7.1!and!7.1A.
The!967,983,387 Shares!we!issued!for!various!purposes.!!The!table!below!summarizes!the!purpose!of!each! share!issue.!
| Date!of!Issue | Number!of!Shares | Details |
|---|---|---|
| 10/12/14 | 41,800,000 | Private!Placement!raising $31,350 |
| 10/12/14 | 83,584,614 | Private!Placement!raising!$50,150 |
| 26/11/14 | 283,653,843 | Private!Placement!raising!$212,740! |
| 26/11/14 | 283,653,843 | Private!Placement!raising!$156,009! |
| 11/11/14 | 91,346,154 | Private!Placement!raising!$50,240 |
| 11/11/14 | 66,346,154 | Private!Placement!raising!$49,759 |
| Consideration!for!the!acquisition!of!a!further!41%!of!CU2!Global!Pty! | ||
| 11/11/14 | 109,821,429 | Ltd |
| 18/07/14 | 7,777,350 | Issued!pursuant!to!CU2!Global!loan!facility!agreement |
| Total | 967,983,387 |
Resolution!1 seeks!Shareholder!approval!for!the!previous!issues!of!a!combined!total!of!967,983,388 Shares!from!18!July!2014!to!10 December 2014, as!set!out!in!the!above!table,!for!the!purposes!of!ASX! Listing!Rule!7.4!and!all!other!purposes.
ASX!Listing!Rules!7.1,!7.1A,!7.4!&!7.5
ASX!Listing!Rule!7.1!provides!that!a!listed!company!must!not,!subject!to!certain!exceptions,!issue!or!agree! to!issue!more!than 15%!of!its!capital!within!a!12hmonth!period!without!the!approval!of!shareholders.!!
In!addition,!at!the!Company's!2013!and!2014!Annual!General!Meeting!(AGM),!the!Company's! shareholders!approved!a!resolution!pursuant!to!ASX!Listing!Rule!7.1A!to!allow!the!Company!to!issue!a! further!10%!of!the!existing!capital!of!the!Company!within!a!12!month period.
ASX!Listing!Rule!7.4!provides!that!an!issue!of!shares!made!without!approval!under!Listing!Rule!7.1!and/or 7.1A!is!treated!as!been!made!with!approval!if each!of!the!following!applies:
- the!issue!did!not!breach!Listing!Rule!7.1 or!7.1A,!and
- the!shareholders!of!ordinary!securities!subsequently!approve!the!issue.
The!issue!of!967,983,387 Shares!from!18 July!2014 to!9!December 2014!did!not!breach!ASX!Listing Rule! 7.1 or!7.1A and!the!Company!seeks!subsequent!Shareholder!approval!for!these issues of!Shares!for!the! purposes!of!ASX!Listing!Rule!7.4!and!all!other!purposes.!!
The!following!information!is!provided!to!Shareholders!in!accordance!with!ASX!Listing!Rule 7.5:
The!number!of!securities!allotted
The!number!of!securities!allotted!was!967,983,387 Shares.
The!price!at!which!the!securities!were!issued,!the!date!of!allotment!and!the!names!of!the!allottees
| Date!of! | Number!of! | Issue | ||
|---|---|---|---|---|
| Issue | Shares | Details | Allotee/s | Price |
| Clients!of!Raptor!Global!Corporation! | ||||
| 10/12/14 | 41,800,000 | Private!Placement!raising $31,350 | Ltd | $0.00075 |
| Clients!of!Raptor!Global!Corporation! | ||||
| 10/12/14 | 83,584,614 | Private!Placement!raising!$50,150 | Ltd | $0.0006 |
| Clients!of!Raptor!Global!Corporation! | ||||
| 26/11/14 | 283,653,843 | Private!Placement!raising!$212,740! | Ltd | $0.00075 |
| Clients!of!Raptor!Global!Corporation! | ||||
| 26/11/14 | 283,653,843 | Private!Placement!raising!$156,009! | Ltd | $0.00055 |
| Clients of!Raptor!Global!Corporation! | ||||
| 11/11/14 | 91,346,154 | Private!Placement!raising!$50,240 | Ltd | $0.00055 |
| Clients!of!Raptor!Global!Corporation! | ||||
| 11/11/14 | 66,346,154 | Private!Placement!raising!$49,759 | Ltd | $0.00075 |
| Consideration!for!the!acquisition!of!41%!of!CU2!Global!Pty! | ||||
| 11/11/14 | 109,821,429 | Ltd | JD!&!AD!Management!Pty!Ltd | $0.001 |
| Homes!Are!Caught!Pty!Ltd! <the!< td=""></the!<> | ||||
| 18/07/14 | 7,777,350 | Issued!pursuant!to!CU2!Global!loan!facility!agreement | Homes!A/C> | $0.001 |
| Total | 967,983,387 |
The!purpose!for!which!the!securities!were!issued!&!the!use!of!the!funds!raised
The!purpose!of each!allotment!has!been!set!out!previously!in!the!Explanatory!Notes!for!this!resolution.
$550,250!of!funds!raised!from!the!various!private!placements!of!Shares from!11!November!2014!to!10 December!2014!have!been /!will!be used!for!working!capital!purposes!and!to!fund!the!further! development!CU2!Global!Pty!Ltd!and!ConvertU2!Technologies!Pty!Ltd.!
The!terms!of!the!securities
The!Shares!issued!rank!equally!in!all!respects!with!the!Company's!existing!Shares.!
Voting!Exclusion!Statement
A!voting!exclusion!statement!is!included!in!the!Notice!of!Meeting.!!
Resolution!2!– Approve!the!issue!of!Shares!with!a!total!combined!value!of!up!to!$1,000,000
The! Company! intends! to! raise up! to! $1,000,000! new!equity! capital! for! the! purpose! of! funding!working! capital!and!for!further!investment!in!CU2!Global!Pty!Ltd!and!CovertU2!Technologies!Pty!Ltd.
Resolution! 2 seeks! Shareholder! approval! for! the! issue! of! Shares! with! a! total! combined! value of! up! to! $1,000,000 for!the!purposes!of!ASX!Listing!Rule!7.1!and!all!other!purposes.
ASX!Listing!Rule!7.1!
ASX!Listing!Rule!7.1!provides!that!a!listed!company!must!not,!subject!to!certain!exceptions,!issue!or!agree! to!issue!more!than!15%!of!its!capital!within!a!12hmonth!period!without!the!approval!of!shareholders.
In!addition,!by!obtaining!the!approval!of!the!Shareholders!to!the!issue!of!the!Shares,!on!the!issue!of!those! Shares,! they! will! not! count! within! the! 15%! limit! when! determining! compliance! by! the Company! with! Listing!Rule!7.1!in!the!next!12!month!period.!
By!approving!the!issue!of!the!Shares!in!advance,!the!Company!maintains!the!maximum!ability!to!be!able! to! issue! securities! without! the! need! for! Shareholder! approval.! ! That! is! important! as! it! provides! the! Company! with! flexibility! and! the! ability! to! maximise! new! investment! opportunities! as! and! when! they! arise.
Listing!Rule!7.3! requires! the! following!information!concerning! the!issue!of! the!Shares!outlined!above!in! relation!to!Resolution!2!be!included!in!the!Notice!of!Meeting.
ASX!Listing!Rule!7.3
Listing!Rule!7.3!contains!certain!requirements!as!to!the!contents!of!a!notice!sent!to!Shareholders!for!the! purposes!of!Listing!Rule!7.1!and! the! following!information!is!included!in! this!Explanatory!Statement! for! that!purpose:
The!number!of!securities!to!be!issued
The!maximum!number!of!Securities!to!be!issued!is!1,111,111,111!Shares.
The!date!by!which!the!Company will!issue!the!securities
The!Shares!will!be!issued!progressively,!and!in!any!event,!no!later than!3!months!after!the!date!of!this! Meeting.
The!issue!price!of!the!securities
The!Shares!will!be!issued!at!a!minimum!issue!price!of!at!least!$0.0009!per!Share.!!The!minimum!issue! price!of!$0.0009!per!Share!represents!a!10%!discount!to!the!Volume!weighted!average!price!of!Shares!as! traded!on!ASX!in!the!15!trading!days!prior!to!11!December!2014.!
The!names!of!the!allottees!of!the!securities
The!allottees of!the!Shares!to!be!issued,!if!Resolution!2!is!approved,!will!be!professional!or!sophisticated! investors!identified!by!the!Company!and!any!brokers!/!financial!advisers!appointed!by!the!Company!to! assist!it!in!its!capital!raising.!!!None!of!the!persons!subscribing!for!Shares!or!receiving!Shares!will!be!a! Director!(or!an!associate!of!a!Director)!or!other!related!party!of!the!Company!(within!the!meaning!of!that! term!in!ASX!Listing!Rule!10.11).!
In!addition,!no!subscriber,!either!individually!or!in!association!with!any!related!entity,!will!be!allotted! securities,!which!would,!if!added!to!existing!holdings,!result!in!the!holder!and!their!related!entities! holding!20%!or!more!of!the!issued!capital!of!the!Company!should!Resolution!2!be!approved.
The!terms!of!the securities
All!Shares!to!be!issued!will!rank!equally!in!respects!with!the!Company's!existing!Shares.
The!intended!use!of!funds!raised
Funds!raised!will!be!used!for!the!purpose!of!funding!new!acquisitions!and!for!working!capital!purposes.
Voting!exclusion!statement
A!voting!exclusion!statement!is!included!in!the!Notice!of!Meeting.!!
Resolution!3 O Election!of!Marcus!L'Estrange!as!a!Director
Marcus!L'Estrange,!a!Director!appointed!by a!resolution!of!the!Board!of!Directors!in!November!2014,! retires at!this!Meeting!and offers!himself!for!election!as!a!Director.
Marcus!is!an!Engineer!with!extensive!experience!in!the!IT!industry!as!well!as!the!Mining!industry,!the!Oil! and!Gas!industry!and!the!Environmental!industry.!He!has!been!involved!with!the!starthup!of!several! successful!companies!within!these!sectors.!He!has!a!diverse!range!of!skills!as!an!engineer!as!well!as!in! sales!and!marketing!and!business!development.
Marcus!is!a!cohfounder!of!Raptor!Global!Corporation!Ltd.!He!is!also!a!Director!of!Drilling!Resource! Partners!Pty!Ltd!and!a!Nonhexecutive!Director!of!River!Rock!Energy!Ltd.
Previously,!Marcus!helped!to!start!up!the!Oil!and!Gas!software!company,!Engenius!Software. In!the! position of!Engineering!Sales!Manager,!over!a!period!of!4!years!he!succeeded!in!selling!their!exploration! software!globally!to!the!major!Western!Oil!&!Gas companies!and!the!majority!of!offshore!exploration! companies,!helping!to!grow!the!business!on!an!international!scale!and!he!resided!in!the!USA!and!Europe! during!this!period.
In!a!previous!role!as!a!Quality!Assurance!Engineer!contracted!to!BHPB!Petroleum,!Marcus!developed!and! implemented!their!Quality!Assurance!Purchase!Order!Databases!for!management!of!purchase!orders! relating!to!BHPB!Petroleum!offshore!facilities.!These!databases!were!developed!using!MSAccess.
GLOSSARY
In!the!Notice!of!Meeting!and!Explanatory!Statement!the!following!terms!have!the!following!meanings:
AEDT means!Australian!Eastern!Daylight!Saving!time.
ASIC means!the!Australian!Securities!and!Investments!Commission.
ASX means!ASX!Limited.
ASX!Listing!Rules means!the!listing!rules!of!ASX.
Board means!the!board!of!directors!of!the!Company.
**Company!**or Motopia means!Motopia Limited!(ABN!67!099!084!143).
Constitution means!the!constitution!of!the!Company
Corporations!Act means!Corporations!Act!2001!(Cth).
Director means!a!current!director!of!the!Company.
Explanatory!Statement means!the!explanatory!statement!to!this Notice.
Meeting means!the General!Meeting!of!the!Shareholders of the!Company!to!be!held!on!21 January!2015,! to!which!the!Notice!of!Meeting!and!Explanatory!Statement!relate.
**Notice!**or Notice!of!Meeting means!this notice!of general meeting!of!the!Company!dated!17 December! 2014.
Resolution means!a!resolution!referred!to!in!the!Notice.
Share means!a!fully!paid!ordinary!share!in!the!capital!of!the!Company.
**Shareholder!**means!a!holder!of!Shares.
Words!importing!the!singular!include!the!plural!and!vice!versa.
All!references!to!currency!are in!Australian!dollars
MOTOPIA LIMITED PROXY FORM FOR GENERAL MEETING OF SHAREHOLDERS
| I/We ______________________________________________________________________________________ | |
|---|---|
| of______________________________________________________________________________________ | |
| am/are!a!member!of!Motopia!Limited!(ACN!099!084!143)!and!I/we!appoint!as!my/our!proxy: |
_____________________________________________________
of ___________________________________________________________________________
Or!failing!the!individual!or!body!corporate!named,!or!if!no!individual!or!body!corporate!is!named,!the!Chairman!of!the!Meeting,!to!be!held!at!the! Hotel!Charsfield,!478!St!Kilda!Road,!Melbourne,!VIC,!3004 on!Wednesday,!21 January!2015 at!10:30 am to!vote!for!me/us!at!the!meeting!and!at!any! adjournment!of!it.!!If!2!proxies!are!being!appointed!the!proportion!of!voting!rights!this!proxy!is!authorised!to!exercise!is!…………...%.!(The!Company! will!supply!an!additional!form!on!request). If!the!Chairman of!the!Meeting!is!appointed!as!your!proxy,!or!may!be!appointed!by!default,!and!you!do!
not!wish!to!direct!your!proxy!how!to!vote!as!your!proxy!in!respect!of!Resolutions!1!to!3 please!place!a!mark!in!this!box:!! !!!!
The!Chairman!intends!to!vote!all!undirected!proxies!in!favour!of!each!resolution.!!By!ticking!the!above!box,!I/we!expressly!authorise!the!Chairman! of!the!Meeting!to!vote!in!accordance!with!the!Chairman's!voting!intentions!on!Resolutions 1 to!3! (except!where!I/we!have!indicated!a!different! voting!intention!below)!and!acknowledge! that! the Chairman!of! the!Meeting!may!exercise!my!proxy!even!if! the!Chairman!of! the!Meeting!has!an! interest!in! the! outcome! of! these!items!and! that!votes! cast! by! the!Chairman,! other! than!as! proxy! holder,!would! be! disregarded!because!of! that! interest.!!If!you!do!not!mark!this!box,!and!you!have!not!directed!your!proxy!how!to!vote,!the!Chair!will!not!cast!your!votes!on!Resolutions!1!to!3 and! your!votes!will!not!be!counted!in!calculating!the!required!majority!if!a!poll!is!called!on!Resolutions!1 to!3.!! Alternatively,!you!can!complete!the!table! below:
| RESOLUTIONS!(TICK!IN!THE!BOX) | For | Against | Abstain | |
|---|---|---|---|---|
| Resolution!1 | Approve!the!previous!issue!of!967,983,387!Shares | |||
| Resolution!2 | Approve!the!issue!of!Shares!with!a!total!combined!value!of!up!to!$1,000,000 | |||
| Resolution!3 | Election!of!Marcus!L'Estrange as!a!Director |
| Individual!or!Member!1 | Member!2 | Member!3 |
|---|---|---|
| !!!!!!!!!!!!!!!!!!!!!!!!Sole!Director/Company!Secretary | Director | Director/Company!Secretary |
Contact!Name:!.........................................................................................Contact!Ph!(daytime):!...................................................
PROXY!INSTRUCTIONS:!A!member!entiled!to!attend!and!vote!at!a!meeting!is!entitled!to!appoint!not!more!than!2!proxies.!!Where!more!than!1!proxy!is!appointed,! each!proxy!may!be!appointed!to!represent!a!specific!portion!of!the!member's!voting!rights. A!proxy!need!not!be!a!member!of!the!Company.!A!proxy!form!must!be! signed!by!the!member!or!his!or!her!attorney.!Proxies!given!by!corporations!must!either!be!signed!under!the!hand!of!a!duly!authorised!officer!or attorney.!!To!be!valid,! the!form!appointing!the!proxy!and!the!Power!of!Attorney!or!other!authority!(if!any)!under!which!it!is!signed!(or!a!certified!copy)!must!be!lodged!with!the!Company!in! person!at!its!registered!office Suite!313,!Pacific!Towers,!737!Burwood!Road,!Hawthorn!East!VIC!or!by!post!to!Motopia!Limited!PO!Box!90!Kingsville!VIC! 3012 or!by!facsimile!on!+!61!(0)!3!8678!1747 by!not!later!than!10:30!a.m.!AEDT!on!19 January!2015.