Commitments/test/first/entity/CLA/est-30/4/2002....

Commitments/test/first/entity/CLA/est-30/4/2002. http://www.stockhouse.com.au/bullboards/viewmessage.asp?no=5099862
Commitments/test/first/entity/CLA/est-30/4/2002.
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A full copy of last commitments to test first entity is available at Stockness monster counting three months since then the commitments to test first entity snould be this coming week---possibly the 30/4/2002 or thereabouts. The entity stated in another announcement that it had 11.3 million all up to collect and that they had collected so far (see below)$4.874 million with 6.574 mill remaining to collect.
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http://stocknessmonster.com/
2002-01-31 ASX-SIGNAL-G
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1) Receipts from Customers - It had been anticipated prior to 31 December 2001 that operating cash flows for the December 2001 quarter would be approximately break-even. A delay in the collection of asubstantial receivable has resulted in the negative operating cashflows for the quarter. The collection of the outstanding funds is to occur in the first quarter of 2002.
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http://stocknessmonster.com/
2002-02-01 ASX-SIGNAL-G
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During the month of January 2002 cash receipts collected have totalled $4.874 million. As discussed in the company update issued on 4 January 2002, the collection of these funds after 31 December 2001 resulted in negative operating cashflows of $4.581 million at the close of December 2001.Major cost restructuring has occurred during the last three months
and has resulted in adjustments to operating costs of up to 50%. It is anticipated that Clarity will be cash flow positive at the close of 30 June 2002.
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http://www.stockhouse.com.au/bullboards/viewmessage.asp?no=5067335&tableid=1
FILE NO. 008 19.04.’02 11:49 1D:WATSON-MANGIONI ’ +61 0292622626
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+61 0292622626
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THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION
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If YOU are in any doubt as to how to deal with it, please consult your legal or financial adviser immediately
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SUPPLEMENTARY TARGET’S STATEMENT CLARITY INTERNATIONAL LIMITED
ABN 58 063 732 883
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This is a Supplementary Target’s Statement intended to be read with the Target’s Statement dated 18 April 2002 (Target’s Statement") in response to the Bidder’s Statement by Powerlan Limited.
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This Supplementary Target‘s Statement is dated 19 April 2002 and was lodged with the Australian Securities & Investments Commission ("ASIC") on 19 April 2002. None of ASIC, the ASX and their respective officers take responsibility for the contents of this Supplementary Target’s Statement.
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Pursuant to Section 646 of the Corporations Act, the information set out. below is taken to be included in the Target’s Statement, Terms defined in the Target’s Statement have the same meaning in this Supplementary Target’s Statement.
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Waiver of Listing Rule 6.23.4
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As set out in the Target’s Statement, the terms of the Clarity Options on offer preclude their transfer. On 18 April 2002 ASX determined to waive the requirements of Listing Rule 623.4 to allow the Directors to waive the transfer restriction attached to the Clarity Options. The ASX waiver and therefore the Directors’ release of the transfer restriction is subject to the Share Offer being declared unconditional.
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Accordingly, if Powerlan declares the Share Offer free of the defeating conditions, Clarity will permit optionholders to accept the Option Offer, Exercise of Clarity Options
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PAGE 2 The terms of some Clarity Options are subject to exercise restrictions. The terms however permit Clarity to lift the restrictions to enable optionholders to exercise the Clarity Options and accept the Powerlan Share Offer.
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FILE NO. 008 19.04.’02 11:49 1D:WATSON-MANGIONI +61 8292622626 A +61 0292622626
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The Directors will lift all exercise restrictions on the Clarity Options immediately after Powerlan declares its Share Offer free of defeating conditions. This will enable optionholders to either accept the Option Offer or exercise their Clarity Options and accept the Share Offer.
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At the current market price of Powerlan Shares, Clarity optionholders would pay more consideration by exercising their Clarity Options than they would receive if they accept the Share Offer. This may change should the market price of Powerlan Shares rise.
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On the market price of Powerlan Shares at the close of trading on 18 April 2002, optionholders exercising 3 Clarity Options with an exercise price of $0.20 would pay $0.60 to receive one Powerlan Share with a market value of $0.21 5. An optionholder exercising 3 Clarity Options with an exercise price of $0.083 would pay $0.249 to receive one Powerlan Share with a market value of $0.21 5.
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Option Offer recommendation
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In light of the ASX waiver referred to above, the Independent Directors recommend that Clarity optionholders ACCEPT the Option Offer when they are able to do so.
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The Directors advise that they intend to accept the Option Offer in respect of their Clarity Options when permitted to do so.
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Reasons to accept the Option Offer
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Powerlan’s Option Offer represents an opportunity for Clarity Optionholders to receive Powerlan Shares, which may be traded on ASX.
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Powerlan’s Optiorl Offer is 1 Powerlan Share for every 22 Clarity Options. The last recorded sale price for Powerlan Shares on ASX at the close of trading on 15 March 2002 (the date on which the Independent Expert has based its assumptions) was $0.285. The Option Offer at that time therefore represents $0.285 for every 22 Clarity Options or $0.0129 for every Clarity Option.
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Acceptance of the Option Offer will permit optionholders to realise value associated with the Clarity Options without paying the option exercise price.
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Opportunity to receive quoted securities
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Clarity Options are not quoted on ASX, The Option Offer therefore provides Clarity Optionholders with the opportunity to receive Powerlan Shares, which may be traded on ASX.
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Refer to Section 2.5 of the Target’s Statement for further information. PAGE 3 1 I FILE NO. 008 19.04.’02 11:49 1D:WATSON-MONGIONI ’ +61 0292622626 f61 0292622626
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Reasons to reject the Option Offer
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(a) The independent Expert concludes that the Powerlan’s Option Offer in relation to Clarity Options with an exercise price of $0.83 is unfair and unreasonable to Clariry Securityholders not associated with Powerian The Independent Expert’s Report is set out in full as Annexure A to the Target’s Statement and you should read it in i t s entirety.
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(b) Refer to Section 2.5 of the Target’s Statement for further information.
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Approval
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This Supplementary Target’s Statement was approved by a resolution passed by a majority of the Directors eligible to vote on the resolution on 19 April 2002. Theo Baker considered that he was unable to vote on the resolution by virtue of Section 195 of the Corporations Act and so abstained from voting, Dated: 19 April 2002
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http://www.stockhouse.com.au/bullboards/viewmessage.asp?no=5113571
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CLARITY INTERNATIONAL LIMITED 2002-04-30 ASX-SIGNAL-G
HOMEX - Sydney
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Clarity International Limited is a world leading global provider of
operational support systems (OSS) that enable telecommunications and
utilities service providers to increase the performance and the
return on investment in their networks.
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Today Clarity is pleased to release the Quarterly Report for the
quarter ended 31 March 2002.The Key items displayed in the report include the following: $'000
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1) Receipts from customers 4,652

2) Payments to suppliers
- Staff Costs (3,537)
- Advertising and Marketing (74)
- Research and Development (1)
- Leased Assets (277)
- Other working capital (3,011)
- All other payments and receipts (646) (7,546)

3) Net operating cashflows for the quarter (2,894)

4) Net investing cashflows for the quarter 189

5) Net financing cashflows for the quarter 3,159

6) Net increase in cash during the quarter 454
7) Cash at beginning of Quarter 1,670
8) Cash on Hand at Quarter End 2,124
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Clarity's business is driven in synchronisation with the contracts
awarded to it and the contracts which are under tender which hold a
high probability of success.
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Clarity's business is conducted under a small number of concurrent
contracts with large telecommunications companies. An explanation of
the items which comprise the operating cashflow is as follows:
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1) Receipts from Customers - A substantial receivable which was
previously reported to be expected last quarter was received this
quarter.
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2) Payments to suppliers - The timing and value of payments made to
suppliers in a quarter are determined by the number of milestones
achieved by Clarity. Depending on the effort and resources required
to complete a particular milestone a portion of the expenditure may
be made prior to commencing work, prior to receiving payment for the
milestone or a portion may be made following the successful
attainment of a milestone payment.
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- Costs will vary in line with the number of staff required to carry
out current projects and projects that are pending.
- Research and Development costs are not separately disclosed in
Clarity's financial accounts. The costs associated with improving and
creating new software is expensed directly to the statement of
financial performance.
- All other payments are made up of the occupancy, telecommunication
and other costs associated with maintaining Clarity's premises and
staff.
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3) Net financing cashflows - this was used to fund the normal
business operations of the group.
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The result for the quarter is an increase in cash on hand of $454
thousand.
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The realisation of cost savings and receipts from new contracts won
are anticipated to improve the cash position in the coming 3 months
with Clarity expected to close the financial year cash flow positive.
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EVENTS DURING THE QUARTER
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Clarity received final acceptance approval from Reliance Infocom, a
large Indian company, for the installation of Clarity licensed
software and a large OSS development contract. This initial agreement
will be completed before the end of the calendar year.
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On 17th January 2002 a ground-breaking contract for the roll out of
residential broadband networks was entered into with Western Power in
Perth.
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A scrip-for-scrip take over offer was received from Powerlan Limited.
As at the date of this report, the result of this offer has not yet
become apparent For further information please contact:
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T Kalcina
CHIEF EXECUTIVE OFFICER,
Clarity International Limited,
Phone: + 61 2 9925 5000
Web: www.clarity.com
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