Lodgment of Jupiter Biofuels Prospectus
The Board of Jupiter Energy Limited (ASX: JPR) (Jupiter Energy) is pleased to advise
shareholders that Jupiter Energy's 100% owned subsidiary, Jupiter Biofuels Limited
(Jupiter Biofuels), has today lodged a Prospectus with ASIC and will be seeking to raise
A$75 million via the issue of 150 million shares at an issue price of $0.50 per share. The
Prospectus is now available for review at
www.jupiterbiofuels.com.au
The proposed $75m fund raising is an integral part of the process of spinning off Jupiter
Biofuels from Jupiter Energy via an In-specie distribution and listing Jupiter Biofuels as a
stand alone entity on the ASX. The Prospectus will raise the required capital to fund the
construction of a 250,000 Tonnes Per Annum biodiesel plant in Kuantan, Malaysia and
provide the necessary working capital to support the organisation until the facility goes
into planned production in April 2008.
Jupiter Energy's shareholders will be called to consider and vote on the proposed In-
specie distribution as part of the upcoming Jupiter Energy Annual General Meeting. For
this purpose, a Notice of Meeting will be sent to Jupiter Energy shareholders and this will
contain all information required by shareholders to form an opinion on how to vote. The
Notice of Meeting is expected to be dispatched to all Jupiter Energy shareholders, with a
copy of the Prospectus, in early October and the Annual General Meeting will be held on
10 November 2006. All Jupiter Energy shareholders, as at the nominated Record Date of
17 November 2006, will be entitled to receive shares in Jupiter Biofuels on an
approximate conversion rate of 1 for 2 (that is to say, a shareholder with 10,000 Jupiter
Energy shares as at the Record Date would receive 5,000 Jupiter Biofuels shares at no
cost). The exact conversion rate used will be based on a specific mathematical formula
which is:
Conversion Rate = JPR Shares divided by 80,000,000
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where JPR Shares is the number of fully paid ordinary shares held within Jupiter Energy
as at the Record Date and 80,000,000 is the total number of Jupiter Biofuels shares to be
distributed to Jupiter Energy shareholders via the In-specie distribution.
The offer of Jupiter Biofuels shares will be made pursuant to the Prospectus and anyone
wishing to acquire Jupiter Biofuels shares under the public offer will need to complete
the application form that will be in the Prospectus.
For the avoidance of doubt, if Jupiter Energy shareholders approve the In-specie
distribution of Jupiter Biofuels shares at the Annual General Meeting, shareholders will
not be required to complete an application form in order to receive their allocation of
Jupiter Biofuels shares. Shareholders wishing to apply to acquire additional Jupiter
Biofuels shares under the public offer will need to complete the application form that will
be in the Prospectus.
The following indicative timetable outlines the important dates that Jupiter Energy
shareholders and option holders need to be aware of. These dates are indicative only and
may change.
INDICATIVE TIMETABLE
Lodgement of Jupiter Biofuels Limited Prospectus with the 22 September 2006
ASIC.
Exposure Period Ends. 29 September 2006
Availability of Printed Prospectus. 04 October 2006
Despatch of the Jupiter Energy Notice of Annual General 05 October2006
Meeting that includes a resolution to approve the In-specie
distribution. A copy of the Jupiter Biofuels Prospectus will
be attached.
Despatch of a letter to all Jupiter Energy option holders 13 October 2006
outlining the process by which options should be exercised
with an appropriate exercise application form attached.
Recommended date by which Jupiter Energy option 20 October 2006
holders should submit application monies for the exercise
of all Jupiter Energy options (8, 12 and 20 cent options). *
Expiry date of listed 20 cent Jupiter Energy options. 31 October 2006
Annual General Meeting of Jupiter Energy Shareholders. 10 November 2006
Record Date on which the In-specie distribution of Jupiter 5.00pm WST on 17 November 2006
Biofuels shares will be based.
Closing Date of Jupiter Biofuels Limited Prospectus ** 5.00pm WST on 20 November 2006
Despatch of Holding Statements. 23 November 2006
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Trading of Jupiter Biofuels Shares on ASX expected to 30 November 2006
commence.