Ann: Prospectus, page-5

The prospectus states the following regarding the issue of the prospectus

"This is a re-compliance prospectus for the purposes of satisfying Chapters 1 and 2 of the Listing Rules and to satisfy ASX’s requirements for re-quotation of the Shares on the Official List, following a change to the nature and scale of the Company’s activities"

The Prospectus also poses the following question and answer:-

Q Has the Company received firm commitments in relation to the Public Offer?

A At the date of the Prospectus, the Company has received firm commitments from Sophisticated Investors for the subscription of Shares under the Public Offer, totalling $2,000,000. The Directors reserve the right to allot a lesser number of Shares than specified in a Firm Commitment Letter. Any decision on allocation will be made after the Public Offer has closed.


These statements in the prospectus are in keeping with statements made in the ASX announcement made back on 18 August 2015 stated the following about the Capital Raise

"Capital Raise:-
Naracoota has engaged Patersons Securities Limited (PSL) as Lead Manager to raise $2,000,000 at 3.1c per share pursuant to a full form prospectus (Capital Raise). PSL has received firm commitments for 100% of the Capital Raise."


The recent Notice of Meeting dispatched on 20 November 2015 deals with the terms of the Capital Raise in Schedule 7 and Schedule 8 of the Explanatory Memorandum

Under Schedule 8, 6,451,612 shares under the Capital Raise will be made available to Nathan Buzza.

At this stage, I don't believe the prospectus and the Capital Raise should present any issues for existing shareholders.

The long term prospects for Alcidion remains unchanged !!!