Retail Entitlement Offer Booklet and Covering Letter - AJ Lucas

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Balance Sheet Recapitalisation Plan 7
Overview of the Recapitalisation Plan • Balance Sheet Recapitalisation Plan to raise gross proceeds of approximately $165.0mm (including AJL share of Bowland sale proceeds of $16.2mm) • Size and structure – Institutional Placement – 9.26m shares to raise approximately $11.1mm – 1 for 1.25 accelerated non-renounceable Institutional Entitlement Offer – to raise approximately $105.1mm – 1 for 1.25 non-renounceable Retail Entitlement Offer – to raise approximately $32.5mm – Cash from Centrica for the sale of the 6.25% interest in Bowland license – GBP10mm ($16.2mm) • $1.20 fixed Offer Price – 15.6% discount to the Theoretical Ex-Rights Price (“TERP”) – 25% discount to last closing price on Thursday, 13 June 2013 of $1.60 • Approximately 124mm new shares will be issued as part of AJL’s Recapitalisation Plan, increasing AJL’s fully diluted shares and options on issue to approximately 284.5mm • Institutional Placement and Institutional Entitlement Offer – Combined will raise approximately $116.2mm – AJL’s largest shareholder - Kerogen – has agreed to subscribe in full for its pro rata entitlement and has entered into an Underwriting Agreement under which it has agreed to underwrite any shortfall arising from the Institutional Entitlement Offer, excluding pre-commitments obtained from other existing institutional shareholders of $19.8mm, provided the issue does not cause its shareholding to exceed 49.99% • Kerogen’s total commitment is for up to $85.3mm of new shares (see details over page) – Other existing institutional shareholders have provided commitments to subscribe for pro rata entitlements of $19.8mm and also agreed to subscribe in full for the Institutional Placement – Shareholders will not receive any proceeds for entitlements not taken up 8
Page 1 and 2: AJ Lucas Group Limited ACN 060 309
Page 3 and 4: 120602_Funnelweb_Retail Entitlement
Page 9 and 10: Summary of options available to you
Page 23 and 24: not hold more than 49.99% of Lucas.
Page 25 and 26: Lucas expects to report a net loss
Page 27 and 28: About AJ Lucas Group Limited Lucas
Page 29 and 30: Disclaimer and Important Notice Thi
Page 31 and 32: Overview • Sale of part of Bowlan
Page 33: Transaction Details • Centrica wi
Page 37 and 38: Overview of the Recapitalisation Pl
Page 39 and 40: Forecast Net Debt Position and Use
Page 41 and 42: Benefits of the Recapitalisation Pl
Page 43 and 44: Indicative Timetable Event Date Tra
Page 45 and 46: 2013 Trading Update • Drilling -
Page 47 and 48: Current Forward Program for Cuadril
Page 49 and 50: Key Risks Introduction As with all
Page 51 and 52: Key Risks 1. Specific risks relatin
Page 53 and 54: Key Risks 2. General risks relating
Page 65 and 66: Foreign Jurisdictions Hong Kong (co
Page 67 and 68: Glossary Term Meaning $ Australian
Page 69 and 70: Offer and also underwritten the sho
Page 71 and 72: Appendix - Key Dates for the Entitl
Page 79: 120602_Funnelweb_Retail Entitlement

Retail Entitlement Offer Booklet and Covering Letter - AJ Lucas

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