Ordinary Shares
Subject to S.708 of the Australian Corporations Act 2001 and Class Order 02/273 issued by the Australian Securities and Investments Commission, Kings & Queens Medical International Group is seeking to raise $75,184,000 to fund the design, construction, operation and management of the first privately-owned teaching hospital in Ghana. The $75,184,000 will represent a 40% equity stake in the Company.
The offer for sale is for 375,924,000 Ordinary Shares at an issue price of $0.20 cents per share which, when sold, will raise the required $75,185,000. These Ordinary Shares will, subject to Board decision, be eligible for full franking and can thus attract dividend imputation rights.
Clause 54. Investment Readiness
There is nothing known that would inhibit the project from proceeding in accordance with this plan as soon as equity funds become available.
Clause 58. Minimum Shareholding per Investor
Subject to Class Order 02/273 issued by the Australian Securities and Investments Commission, which limits each share issue offer (allotments) and/or share sales (transfers) collectively to not more than $5 million in total to be raised through not more than 20 new investors (excluding sophisticated investors and institutional investors) in a rolling 12 month period, the minimum share parcel available per investor is $3,500,000. This stipulation does not apply to sophisticated investors, professional investors or institutional investors as defined.
Clause 59. Escrow Provisions
The present shareholders of Kings & Queens Medical International Group have agreed to enter into a voluntary restriction agreement with the Company. This agreement provides that existing shareholders agree not to transfer, sell or otherwise dispose of any of their share holdings for a period of not less than 36 months from the date on which the Company obtains new investors on the Company’s share register resulting from this offer.
The Agreement provides exception for a trade sale or sale of shares approved by a majority vote of the other shareholders.
The offer for sale is for 375,924,000 Ordinary Shares at an issue price of $USD 0.20 cents per share which, when sold, will raise the required $USD 75,185,000.
The Kings & Queens Medical International Group offers the shares for sale and purchase in parcel lots:
16 parcels of Ordinary Shares at $USD 2.5 million dollars per parcel to raise $USD $USD $40 million dollars (rounded figure).
7 parcels at $USD 5 million dollars per parcel to raise $USD 35 million dollars.
There is no restriction on the number of parcels any particular investor may purchase.
Investors contributing in excess of $USD 10 million dollars will be offered a Directorsgip.
There is nothing known that would inhibit the project from proceeding in accordance with this business plan as soon as equity funds become available.