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Capital raising the easy way - introduction to ASSOB and legal risk mitigation strategies
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Introduction to raising capital through ASSOB
Whilst the ASX is for large scale offerings, ASSOB is for Small Scale Offerings. The founder of ASSOB has been working on Small Scale Offerings for over 23 years and worked closely with ASIC to draft the 20/12 rule to help smaller companies. Class Order 02/273 offers exemptions to the 20/12 rule to operators of introduction services such as ASSOB.
Exemptions include forms of advertising and the $2m limit being raised to $5m. In addition to being classified as an introduction service under CO 02/273, ASSOB also operates a platform for primary and secondary sales.
The secondary sales platform enables investors an opportunity to potentially sell their shares and realise their Return On Investment (ROI). Thus ASSOB’s platform is considered attractive by many business owners looking to raise investor funding as well as by investors looking for small scale investment opportunities with an opportunity to sell their shares to realise their ROI.
This seminar will explain how ASSOB shapes and structures capital raising to the benefit of company owners and investors and will go through an example from the audience.
Legal aspects of raising capital in Australia
The general rule is that you can't raise capital without a prospectus. Chapter 6D of the Corporations Act 2001 (Cth) (Act), known as the "fundraising provisions" regulates the way in which capital can be raised in Australia.
The small scale offering exception also known as the ‘The 20/12 rule’ is reflected in section 708(1) of the Act. This provision was introduced to ‘…facilitate raising investment capital and to reduce the high fundraising costs faced by Australian companies’. It provides that a disclosure document is not required if a person makes a personal offer of securities that results in securities being issued or transferred to 20 or fewer persons with no more than $2 million being raised in any rolling 12 month period.
This seminar will also provide an introduction to the 20/12 rule and how to avoid touting when raising capital in Australia.
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| Date: | Tuesday 9 March 2010
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| Time: | 5.00pm for a 5.15pm start
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| Duration: | 2.5 hours
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| Location | Rostron Carlyle Solicitors Boardroom Level 15, 270 Adelaide Street, Brisbane
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| Presenters: | Malcolm Burrows B.Bus.,MBA.,LL.B.,GDLP.,MQLS Associate - Corporate Law Practice Rostron Carlyle Solicitors
Dr Mark Rainbird B.Sc.,PhD - ASSOB Accredited Sponsor Managing Director Ramscove
Ian Coombe - B.Sc.,M.Mgt.Ec.,MInfSc. - ASSOB Accredited Sponsor Managing Director |
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| Cost: | Rostron Carlyle clients - complimentary Others $125.00
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| RSVP: | Spaces are strictly limited. To avoid disapointment, please RSVP by emailing p.straker@rostroncarlyle.com or call 07 3009 8444 to reserve your place. |
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