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STAKK LIMITED — Capital/Financing Update 2014
Jul 2, 2014
65801_rns_2014-07-02_43101b26-025f-430e-8812-5fce7b5738a0.pdf
Capital/Financing Update
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STATEMENT OF COMMITMENTS (BASED ON ACTUAL FUNDS RAISED – $5,000,000)
The Company intends to apply funds raised from the Public Offer over the first two years following re-admission of the Company to the official list of ASX as follows:
| Allocation of funds | ($) | Percentage of Funds |
|---|---|---|
| AussieSim – website development, product development, marketing and public relations |
1,000,000 | 20.00% |
| ZipT - product development, marketing and distribution |
2,250,000 | 45.00% |
| RoamEzy - product development, marketing and distribution |
167,000 | 3.34% |
| ICFP - product development, marketing and distribution |
417,000 | 8.34% |
| Patersosns Success Fee1 | 80,000 | 1.60% |
| Expenses of the Offer2 | 421,963 | 8.44% |
| Working capital | 664,037 | 13.28% |
| Total | 5,000,000 | 100% |
1 Refer to Section 11.2.1 of the Prospectus dated 14 May 2014.
2 Refer to Section 12.7 of the Prospectus dated 14 May 2014.
The above table is a statement of current intentions as of the date of this announcement. As with any budget, intervening events (including exploration success or failure) and new circumstances have the potential to affect the manner in which the funds are ultimately applied. The Board reserves the right to alter the way funds are applied on this basis.
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