Sirtex Cover.proof 11 - School of Educators
Sirtex Cover.proof 11 - School of Educators
Sirtex Cover.proof 11 - School of Educators
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
42<br />
Independent Accountants Report<br />
Consolidated Consolidated Consolidated<br />
12 Months 6 Months Pr<strong>of</strong>orma<br />
30/06/99 31/12/99<br />
$ $ $<br />
Note 7 – Borrowings<br />
Non-Current<br />
Unsecured<br />
1,000,000 8% convertible notes were issued<br />
on 23 December 1999 at $1.00 each. The notes<br />
must be repaid by the issue <strong>of</strong> ordinary shares<br />
at a 30% discount to the initial public <strong>of</strong>fer price<br />
if the ordinary shares are quoted on the ASX before<br />
23 December 2000 when the notes would otherwise<br />
mature for repayment in cash together with interest.<br />
– 1,000,000 1,000,000<br />
Pr<strong>of</strong>orma adjustments<br />
2(e) Conversion <strong>of</strong> notes to shares – – (1,000,000)<br />
– 1,000,000 –<br />
Note 8 – Share Capital<br />
Issued and paid up capital<br />
1 B ordinary subscriber share issued<br />
at $2.00 each. 2 2 –<br />
4 A ordinary subscriber shares issued<br />
at $2.00 each. 8 8 –<br />
1,028,333 A ordinary shares issued on<br />
1 May 1997 for the acquisition <strong>of</strong> intellectual<br />
property and equipment issued at $2.00 each. 2,056,666 2,056,666 –<br />
30,000 B ordinary shares issued on<br />
1 May 1997 to raise working capital issued<br />
at $0.67 each. 20,100 20,100 –<br />
774,996 B ordinary shares issued on<br />
1 May 1997 for the acquisition <strong>of</strong> intellectual<br />
property and equipment issued at $2.00 each. 1,549,992 1,549,992 –<br />
499,999 A convertible participating redeemable<br />
preference shares issued on 30 May 1997 to raise<br />
working capital issued at $2.00 each. 999,998 999,998 –