How can this be when the only shareholders announced to date are PHUN and FO and payment will be a brokerage fee as a percentage of funds raised?
Per the "MPS Investment Briefing":
Disclosure
Martin Place Securities Pty Ltd and its associates declare that as of Monday, 18 January 2010, they may have a relevant interest in the securities recommended herein, in particular:
•
David Sutton, Consultant at Martin Place Securities, is also a non-executive director of Sweatpea Petroleum Pty Ltd, which is a wholly-owned subsidiary of US listed Petrohunter Energy Corporation, a majority shareholder of Falcon Oil & Gas Australia Pty Ltd. David Sutton holds shares in Falcon Oil & Gas Australia and will earn brokerage on capital raising through Martin Place Securities.
Capital Structure of
Falcon Oil & Gas Australia Pty Ltd
ACN 132 857 008
Pre-Capital Raising (at $1.00 US per share)
Falcon Oil & Gas 150 million shares
Petrohunter Energy 50 million shares
Market Cap ($m US) 200
Post-Capital Raising (at $1.00 US per share)
Falcon Oil & Gas 150 million shares
Petrohunter Energy 50 million shares
New Shareholders (Min) 50 million shares
Min Market Cap ($m US) 250
Per the "Offer Memorandum":
MPS's costs associated with the Offer will be borne by the Company. In addition, MPS is entitled to a brokerage fee (payable by the Company) comprising 6.5% on funds raised from the Offer (plus GST where applicable) together with a number of Options (on the same terms as those issued to Investors) calculated as being 6.5% of the number of Shares issued under the Offer.
