On 28 June 2024, Bhagwan Marine Limited ACN 009 154 349 (Bhagwan) issued a Prospectus for the purposes of Chapter 6D of the Corporations Act. The Prospectus is an invitation to acquire fully paid ordinary shares (Shares) in Bhagwan.
The Prospectus is offering 126,984,127 new shares to be issued by Bhagwan Marine. All shares under the offer will be issued at the offer price of $0.63 per share to raise total proceeds of $80 million (before costs). Shares being issued under the offer will represent approximately 46.1% of the total shares on issue on completion. The proceeds raised will be used to repay existing secured loans and the costs of the offer.

LODGEMENT AND ASX LISTING

This Prospectus is dated Friday, 28 June 2024 (Prospectus Date) and was lodged with ASIC on that date.  This Prospectus is a replacement prospectus that replaces the prospectus issued by the Company on 21 June 2024 (Original Prospectus) and lodged with ASIC on that date (Original Prospectus Date). None of ASIC, ASX or any of their respective officers takes any responsibility for the contents of the Prospectus or the merits of the investment to which the Prospectus relates.

An application was made to ASX on the Original Prospectus Date for Bhagwan to be admitted to the Official List and for official quotation of the shares on ASX.

OBTAINING A COPY OF THE PROSPECTUS

During the offer period, the Prospectus will be available in electronic form at https://events.miraqle.com/bhagwan-ipo.

The Offer constituted by this Prospectus in electronic form is available only to Australian residents accessing the website within Australia and is not available to persons in any other jurisdictions, including the United States.

Refer to Section 7 of the Prospectus for further information.

EXPIRY DATE

The Prospectus expires 13 months after the Original Prospectus Date.  No Shares will be issued or sold on the basis of the Prospectus after that date.

NOT INVESTMENT ADVICE

The information contained in the Prospectus is not financial product advice and does not take into account the investment objectives, financial situation or particular needs (including financial and tax issues) of any prospective investor.

It is important that you read the Prospectus carefully and in its entirety before deciding whether to invest in Bhagwan.  In particular, in considering the prospects of Bhagwan, you should consider the risk factors that could affect the performance of Bhagwan.  You should carefully consider these risks in light of your investment objectives, financial situation and particular needs (including financial and tax issues) and seek professional guidance from your stockbroker, solicitor, accountant, financial adviser or other independent professional adviser before deciding whether to invest in the Shares.  Some of the key risk factors that should be considered by prospective investors are set out in Section 5. There may be risk factors in addition to these that should be considered in light of your personal circumstances. You should also consider the assumptions underlying the Forecast Financial Information set out in Section 4 and the risk factors set out in Section 5 that could affect Bhagwan’s business, financial condition and results of operations. You should seek professional advice from your accountant, stockbroker, lawyer or other independent professional adviser before deciding whether to invest.

No person named in the Prospectus, nor any other person, guarantees the Company’s performance, the repayment of capital or the payment of a return on the Shares.

EXPOSURE PERIOD

The Corporations Act prohibits Bhagwan from processing applications to subscribe for, or acquire, Shares offered under this Prospectus (Applications) in the seven day period after lodgement of the Original Prospectus with ASIC (Exposure Period).

The Exposure Period ended at 11.59pm on 28 June 2024. The Offeror is now permitted to accept and process applications.

DISCLAIMER

The information on this website does not constitute an offer of Shares. The information on this website is provided for informational purposes only and is subject to change without notice.

No person is authorised to give any information or to make any representation in connection with the Offer described in the Prospectus, which is not contained in the Prospectus. You should rely only on the information in the Prospectus.

Cooling-off rights do not apply to an investment in Shares issued under the Prospectus. This means that, in most circumstances, you cannot withdraw your application form once it has been accepted.