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The purpose of the investigating accountant's appointment is to report on the concerns raised in Australian Securities Investment Commission's (ASIC) application in relation to the Offer. The report must comply with the Australian Auditing Standard (AUS) 804 or at least, the reasonableness of the report can be appropriately verified (Cockburn: 2002: 1).
16. What are the risk factors associated with this prospectus and briefly describe each?
Investing in Tiaro Coal Limited involve embracing the susceptibility to uncertainties and risks. According to Section 10 of the Prospectus, Tiaro Coal's business activities are subject to both business risks and general risks. In relation to the nature of the business, there is the associated specific risk on exploration and development. There is no assurance that the funds spent on these activities will result in discoveries of new reserves and that it will be commercially viable. There are also uncertainties as to the result of existing and future contracts; the availability of market and the cost to transport; application of exploration permits; disruption of operations; environmental risk; insurance and other factors are also inevitable. There are also financial risks that may arise as the value of the shares fluctuates in the stock market. Any changes in laws and government policies, government actions, taxation, actions of key personnel and management, as well as the application of changes to accounting policies may also affect the future reported financial reports. Though some risks are uncontrollable, Tiaro Coal uses appropriate safeguards and systems to at least mitigate those risks.
17. Who has controlling interest (maximum share holding) in Tiaro Coal Limited and how many shares do they own?
Hudson Resources Limited (HRL) has the controlling interest in Tiaro Coal Limited. The shareholding of HRL and of its subsidiary, TEC, was restructured when Tiaro Coal was formed. Following the restructure, TEC became a wholly owned subsidiary of Tiaro Coal, and Tiaro Coal became a wholly owned subsidiary of HRL, with the issuance of the 30,000,000 shares. HRL will hold 66.66% before the exercise of the options, and 55.5% after the all the issued options have been...
What is a dividend and does Tiaro Coal Limited intend on paying a dividend?
A dividend is a form of distribution of the company's earnings to its stockholders. It is being decided by the board of directors as to the class of shareholders (may be preferred or common). This is deemed to be effective as of the declaration date. Dividend may be expressed in dollars, in proportion to the number of shares held by the stockholders; or as dividend yield, wherein it is quoted as a percentage of the current market price. The payment may also be in the form of cash, stocks, or property. The stockholders have the option to receive the dividend in cash or to have it reinvested. For Tiaro Coal Limited, there is no declaration for dividend payment for the year ended June 30, 2008.
19. What would be the process to acquire shares in Tiaro Coal Limited if you missed this offer?
To acquire shares in Tiaro Coal, you may contact your financial advisor or any stock broker to assist you to buy the shares through the ASX.
20. What is Corporate Governance, and how does it apply to Tiaro Coal Limited?
An ethical company is said to have excellent corporate governance if the relationship of all its stakeholders are clearly defined by its corporate charter, bylaws, formal policy and rule of law. The stakeholders of the company include its shareholders, directors, and management. As outlined in the Prospectus, everything was clearly defined and it is just a good indication that Tiaro Coal practices corporate governance.
Bibliography
Cockburn, Richard. "
Avoiding stop orders on your prospectus," Australian Securities & Investments Commission Financial tips and safety checks. 2002. Accessed on March 23,
Australian Securities & Investment Commission. National names index. Extracted from ASIC's database on March 23, 2008.
Van Horne, James C. Financial Management and Policy. "Option Financing: Warrants,
Convertibles, and Exchangeables." 1989. Prentice-Hall, Inc. Engelwood Cliffs, New
Jersey. p. 612.
Wikipedia. Australian Securities Exchange. "
Settlement,"…
Bibliography
Cockburn, Richard. "
Avoiding stop orders on your prospectus," Australian Securities & Investments Commission Financial tips and safety checks. 2002. Accessed on March 23,
Australian Securities & Investment Commission. National names index. Extracted from ASIC's database on March 23, 2008.
Van Horne, James C. Financial Management and Policy. "Option Financing: Warrants,
In 2006, production workers, earned $21.40 an hour in oil and gas extraction, $22.08 an hour in coal mining, $22.39 an hour in metal ore mining, and $18.74 an hour in nonmetallic minerals mining, compared to the private industry average of $16.76 an hour Figure 1 and Figure 2 below show the 'Average Earnings of Non-Supervisory Workers in 2006 and Median Hourly Mining of the Largest Occupations in Mining, May
There is also a lack of healthcare facilities capable of doing the screenings in many small, rural Kentucky communities, which is another barrier for many miners. Health professionals need to become more involved in information and screening information. They need to stress the importance of early screening and regular screening, and they need to create educational resources for the miners, so they can take steps to avoid black lung. Health
" President Truman did not deal with the UMWA because he had a love for labor, either. He feared that a prolonged strike would hurt a nation recovering from World War II, and so, he signed the fund into action with the union president. The UMWA was crucial in settling the strike and getting benefits for the miners and at the heart of the organization was its president, John L. Lewis. Lewis
In other words, the finances of a deficit country were constrained because they did not have enough gold to go around, while a country with a surplus did not face those issues. In addition, usually the weight of modification falls on these weaker countries, which is another flaw in the gold standard. Because the weaker countries could not react quickly enough to economic problems, they had less capital to
Another historian notes, "Economically, baby boomers experienced unprecedented national affluence throughout their childhood. During the 1950s and 1960s, the U.S. economy expanded greatly, raising the living standards of most American families" (Clydesdale 606). Religion played less of a role in society by the 1990s, as church attendance and membership began to decline in the 60s. Historian Clydesdale continues, "When the cultural challenges of the 1960's disestablished this religious ethos,
" The prominence of this type of mining method is underlined by a study prepared for the Governor of West Virginia which states that, "Mountaintop removal methods are essential to maintain the state's present level of coal production. The lower production costs of MTR have contributed significantly to maintaining West Virginia as a competitive coal producer." 3. Environmental impact of coal mining in the Appalachians. 3.1. Underground mining The earliest coal mining in Appalachia consisted