PROSPECTUS - GR Engineering

Recommendations

Info

22 INDUSTRY OVERVIEW 2.1 Overview GR Engineering provides services to the mining and minerals processing industries in which the level of business activity is driven by the global supply and demand for mineral commodities. Strong demand from the rapid industrialisation and urbanisation of china, combined with increasing supply shortages have resulted in historically high prices across many mineral commodities. these positive fundamentals have in turn resulted in strong demand and growth for engineering consulting and construction services as provided by GR Engineering. 2.2 Services the services engineering consulting and construction companies typically provide to the mining and minerals processing industries include: • engineering consulting for feasibility studies and project development; • detailed design; • project management and construction; • project maintenance, enhancement and support; and • project retirement. Engineering consulting and construction services are typically conducted based on service or consulting agreements. Services are provided for various phases of project development from initial feasibility studies through to project definition and execution planning. Projects are then typically delivered through either engineering, procurement and construction management (EPcm) or engineering, procurement and construction (EPc) contracts. for EPcm contracts, the contractor provides design services and project manages third party suppliers and construction contractors. EPcm providers typically receive a professional service fee based on hourly rates as well as incentive payments for project completion on time and within budget. EPc contract models vary but are based on the contractor being responsible for design, procurement and construction. models range from “fixed price lump sum” where all the contract value risk lies with the contractor through to cost underrun sharing contracts such as “guaranteed maximum price”, and cost under-run and over-run sharing contracts such as “target cost estimate”, “reimbursable cost plus margin” and “alliance” style relational contracts. 2.3 Competition Engineering consulting and construction service providers generally compete on key personnel quality, capability, price, timing, safety, reliability and experience. While price and timing are important considerations, often management’s experience, technical ability and reputation, as well as quality of service and safety are key factors in the selection of an engineering consulting and construction service provider. there are a number of companies providing engineering consulting and construction services to the markets in which GR Engineering operates, but limited companies are focused or capable of providing integrated EPc project development solutions as GR Engineering. the key barriers to entry in the engineering consulting and construction service sector include the technical, business and industry knowledge and enterprise, capital required to establish an operating base and for funding contracts, a well recognised operational track record and access to a team of well qualified and experienced personnel. 2.4 Outlook Strong demand for the provision of engineering consulting and construction services to the mining and mineral processing industries is expected to continue. this favourable outlook is driven by spending on new project developments (greenfields), capacity upgrades of existing projects (brownfields) and refurbishment of existing projects being undertaken by mining companies in order to meet strong demand for mineral commodities. through a specialised service offering with limited direct competitors, an excellent reputation and proven track record, GR Engineering is well positioned to take advantage of this strong growth outlook.
GR ENGINEERING’S BUSINESS SECTION 3 GR EnGinEERinG SERvicES LimitEd PRoSPEctuS 23
Page 1 and 2: ACN 121 542 738 PROSPECTUS FOR THE
Page 3 and 4: TABLE OF CONTENTS CHAIRMAN’S LETT
Page 5: OFFER OVERVIEW KEY OFFER DETAILS Of
Page 8 and 9: 6 INVESTMENT HIGHLIGHTS MARKET LEAD
Page 10 and 11: 8 INVESTMENT HIGHLIGHTS CONTINUED E
Page 12 and 13: 10 INVESTMENT HIGHLIGHTS CONTINUED
Page 14 and 15: 12 INVESTMENT HIGHLIGHTS CONTINUED
Page 16 and 17: 14 KEY RISK FACTORS RISK FACTORS Se
Page 18 and 19: 16 DETAILS OF THE OFFER CONTINUED 1
Page 26 and 27: 24 GR ENGINEERING’S BUSINESS 3.1
Page 28 and 29: 26 GR ENGINEERING’S BUSINESS CONT
Page 36 and 37: 34 DIRECTORS AND MANAGEMENT 4.1 Boa
Page 38 and 39: 36 DIRECTORS AND MANAGEMENT CONTINU
Page 40 and 41: 38 FINANCIAL INFORMATION 5.1 Introd
Page 42 and 43: 40 FINANCIAL INFORMATION CONTINUED
Page 48 and 49: 46 INVESTIGATING ACCOUNTANTS’ REP
Page 50 and 51: 48 INVESTIGATING ACCOUNTANTS’ REP
Page 52 and 53: 50 REPORT ON DIRECTORS’ FORECAST
Page 54 and 55: 52 REPORT ON DIRECTORS’ FORECAST
Page 57 and 58: RISK FACTORS RISK FACTORS SECTION 8
Page 59 and 60: Force Majeure force majeure is a te
Page 61 and 62: GR Engineering’s founding directo
Page 63 and 64: MATERIAL AGREEMENTS SECTION 9 GR En
Page 65 and 66: (c) bank Guarantee - the company ha
Page 67 and 68: 9.7 Executive Employment Agreement
Page 69 and 70: 9.9 Executive Employment Agreement
Page 71 and 72: (d) no consideration is payable for
Page 73 and 74: CORPORATE GOVERNANCE SECTION 10 GR
Page 75 and 76:
10.4 Summary of Remuneration Commit
Page 77 and 78:
10.14 Summary of Risk Management Po
Page 79 and 80:
Recommendation 2.6: companies shoul
Page 81 and 82:
details of each of the director’s
Page 83 and 84:
ADDITIONAL INFORMATION SECTION 11 G
Page 85 and 86:
Winding Up Subject to the rights of
Page 87 and 88:
(p) if there is a bonus share issue
Page 89 and 90:
1. based on the number of Shares to
Page 91 and 92:
and no amounts have been paid or ag
Page 93 and 94:
HISTORICAL FINANCIAL STATEMENTS SEC
Page 95 and 96:
12.2 Statement of Comprehensive Inc
Page 97 and 98:
12.4 Statement of Financial Positio
Page 99 and 100:
(c) Revenue Revenue is recognised t
Page 101 and 102:
(j) Interest-Bearing Loans and Borr
Page 103 and 104:
(p) Inventories inventories are val
Page 105 and 106:
12.10 Issued Capital balance as at
Page 107 and 108:
DEFINITIONS SECTION 13 GR EnGinEERi
Page 109 and 110:
“Employee Priority Offer” means
Page 111 and 112:
DIRECTORS’ STATEMENT SECTION 14 G
Page 115 and 116:
CORPORATE DIRECTORY DIRECTORS Barry
show all

PROSPECTUS - GR Engineering

Create successful ePaper yourself

Delete template?

Save as template?