– GOOD NEWS: DEADLINE TO INVEST EXTENDED –
We know Christmas is just around the corner, and many of our friends and colleagues in the not-for-profit community are living with uncertainty around government funding and contracts. So we’ve decided to extend the deadline to reach minimum subscription (to April 2015), and make sure all organisations have a chance to join us.
– SECTOR ENTHUSIASTIC, BUT TIMELINE TOO TIGHT –
The offer has been well received and we have generated enormous interest from the not-for-profit sector. This has confirmed in our minds that C21’s strategy to raise additional capital to invest in further projects is the right one.
However, converting that interest into formal applications can take a lot longer than the deadline we’d hoped. Despite our best efforts we have not been able to achieve the target we initially set ourselves within four months from the date we lodged the replacement prospectus in August.
– RAISING THE CAPITAL SLOWLY AND STEADILY –
We are also pleased to report that on the basis of the financial year to date, that Community Sector Banking is ahead of its forecast capital expenditure requirements and on this basis we are also reducing the amount of the minimum subscription to $900,000.
As a result of the capital raising to date and due to the decrease in capital expenditure requirements from Community Sector Banking, the board of C21 has resolved to reduce the minimum subscription amount to $900,000 and to extend the date to achieve this by a further four months (to 11 April 2015). The board is confident that the minimum subscription amount will be achieved prior to this date.
– DOWNLOAD YOUR SUPPLEMENTARY PROSPECTUS –
A supplementary prospectus outlining the changes referred to above (and some other minor amendments to the replacement prospectus) has today been lodged with ASIC and is available online at www.community21.com.au/prospectus
– QUESTIONS? –
Please feel free to call Peter directly on 0408 851 595 or email firstname.lastname@example.org