A Deed to Company Arrangement (“DOCA”) was executed by George Georges and John Lindholm as the Administrators of the Company, Trident Capital Pty Ltd and the Company on 5 October 2009.  The DOCA encapsulates the proposal approved by resolution of the Company’s creditors at a meeting held on 15 September 2009.  The proposal allows for the recapitalisation and re-instatement of the Company’s securities for quotation on the ASX subject to a number of conditions precedents being met.    

The key features of the proposal and conditions precedent that need to be met for the proposal to take effect are summarised in the Information Sheet available for download.

Under the terms of the DOCA, George Georges and John Lindholm become the Deed Administrators of the DOCA.  After having met all of the conditions precedent, the DOCA is effectuated and the creation of a Creditors Trust Deed results in the creditors’ claims against the Company being extinguished and transferred to the Creditors Trust.  The Deed Administrators become the Trustees of the Creditors Trust Deed.  The effectuation of the DOCA extinguishes the creditors’ claims against the Company enabling the Company to be recapitalised and re-listed for trading of its shares on the ASX.  

The effectuation of the DOCA is expected to occur no later than 31 March 2010 unless varied by agreement and approved by creditors.  

A copy of the DOCA is available for download.

At a meeting of creditors held on 30 March 2010 it was resolved that the termination date of the DOCA be extended to 30 September 2010.