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| Subject: Time of float: 21st March 20038.13% per annum averaged over the next 27 months | |
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Author: Daily Planet (Profile)28th February 2003Offer Close Date |
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Date Posted: 03:07:46 01/07/03 Tue Daily Planet (Profile) Time of float: 21st March 2003 Last updated: 10-Dec Company Name Daily Planet Proposed ASX Code TBA Offer Close Date 28th February 2003 Proposed listing date 21st March 2003 Principal Activities Special purpose investment vehicle to own and manage the Daily Planet property located at 7-12 Home Street, Elsternwick, Victoria. GICS industry group TBA Issue Price 50 cents Issue Type Equity Number of shares to be issued 17.8 million Capital to be Raised $8.9 million Accountant Hayes Knight Accountants and Business Advisors Auditor Alexander & Spencer Sponsor Cameron Stockbrokers Limited Profile INVESTMENT HIGHLIGHTS • In what is the first public offer of this type in the world, The Daily Planet Limited is giving investors the chance to invest indirectly into Australia’s multi-million dollar sex industry. • The Daily Planet was established in 1975 and is a Melbourne icon. It is one of the largest operating licensed brothels in the world • The company has secured the Daily Planet as the tenant of the Property for the next 50 years. The tenant then is responsible for all outgoings, improvements, structural repairs, and capital works on the Property. These arrangements will ensure that the company’s overheads are minimised. • Subject to the offer being fully subscribed, the Director’s will deposit the amount of $712,838 into a separately held interest bearing account at all times during the forecast period to commit to the payment of regular dividends. • Forecasted is an annualised partly-franked return of 8.13% per annum averaged over the next 27 months. • Australian resident investors will be given imputation credits attached to those dividends, with the effective annualised rate of return increased to an average of 10.44% per annum. • Expansion and diversification is planned for the company’s operations with a similar business to be realised in the Sydney CBD. [ Next Thread | Previous Thread | Next Message | Previous Message ] |
| Subject | Author | Date |
| Re: The Daily Planet site updated as at 1/1/2003 | No name | 03:15:19 01/07/03 Tue |