Bos Glb Hldgs Regulatory News (BOS)

27 Jan 2005 07:01

Murchison United NL27 January 2005 Quarterly Report December 2004 Summary __________________________________________________________________________________ • The Renison Bell Ltd (RBL) Deed Administrator has providedMurchison United NL confirmation of "Proofs of Debts" accepted and outstandingto date. A summary of the amounts claimed and the applicable number of MurchisonUnited NL shares which will be issued to settle the Deed of Company Arrangementobligations are as follows: Creditors Number of Murchison Claims A$ Shares Amounts relating to "Proof of Debts" Accepted by the RBL Administrator $14,489,909 15,301,667 Amounts lodged awaiting RBL Administrators acceptance $ 4,191,979 4,207,649 • Pursuant to shareholders approval obtained at the AnnualGeneral Meeting held on the 9th November 2004 the Directors intend to allot15,301,667 shares to the "accepted creditors" as soon as shareholders lists arefinalised. It is envisaged that this will be completed within seven days. Theseshares are to be issued at $0.03 cents as disclosed in the Notice of Meeting.This is a deemed price only as no funds will be raised from this issue. • As announced on the 25 January 2005 the Company intends toraise $2,600,000 through the placement of 57,777,777 ordinary shares at A$0.045to sophisticated clients of Hartley Ltd. The issue is being undertaken in twotranches, with the first tranche comprising of 29,700,000 shares at A$0.045 pershare placed pursuant to the Company's 15% placement authority and the secondtranche placed subject to shareholder approval at a general meeting ofshareholders, in respect of which a notice of meeting will be forwarded toshareholders shortly. • Murchison intends to review existing assets and continuethe Company's investigation of resource opportunities in Australia andinternationally to assess their appropriateness for the Company. Rule 5.3 Appendix 5B Mining exploration entity quarterly report Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001. Name of entityMURCHISON UNITED NL ABN Quarter ended ("current quarter")59 009 087 852 31 DECEMBER 2004 Consolidated statement of cash flows Current quarter Year to date Cash flows related to operating activities A$'000 (12 months) A$'0001.1 Receipts from product sales and related - - debtors 1.2 Payments for (a) exploration and - - evaluation (b) development - - (c) production - - (d) administration (67) (111)1.3 Dividends received1.4 Interest and other items of a similar nature received 1 21.5 Interest and other costs of finance paid - -1.6 Income taxes paid - -1.7 Other (provide details if material) (66) (109) Net Operating Cash Flows Cash flows related to investing activities1.8 Payment for purchases of: (a) prospects - - (b) equity investments - - (c) other fixed - - assets1.9 Proceeds from sale of: (a) prospects - - (b) equity investments - - (c) other fixed assets - 2 1.10 Loans to other entities - -1.11 Loans repaid by other entities - -1.12 Other (provide details if material) - - Net investing cash flows 0 21.13 Total operating and investing cash flows (66) (107) (carried forward) 1.13 Total operating and investing cash flows (brought (66) (107) forward) Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc. - -1.15 Proceeds from sale of forfeited shares - -1.16 Proceeds from borrowings - -1.17 Repayment of borrowings - -1.18 Dividends paid - -1.19 Other - Settlement of Guarantee Net financing cash flows 0 0 Net increase (decrease) in cash held (66) (107) 1.20 Cash at beginning of quarter/year to date 107 1481.21 Exchange rate adjustments to item 1.201.22 Cash at end of quarter 41 41 Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the relatedentities Current quarter $A'000 1.23 Aggregate amount of payments to the parties included in item 1.2 - 1.24 Aggregate amount of loans to the parties included in item 1.10 - 1.25 Explanation necessary for an understanding of the transactions Non-cash financing and investing activities 2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows Nil 2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest Nil Financing facilities available Add notes as necessary for an understanding of the position. Amount available Amount used $A'000 $A'0003.1 Loan facilities Nil N/A 3.2 Credit standby arrangements Nil N/A Estimated cash outflows for next quarter $A'0004.1 Exploration and evaluation 4.2 Development Total Reconciliation of cash Reconciliation of cash at the end of the quarter (as Current quarter Previous quartershown in the consolidated statement of cash flows)to the related items in the accounts is as follows. $A'000 $A'000 5.1 Cash on hand and at bank 41 1075.2 Deposits at call - -5.3 Bank overdraft - -5.4 Other (provide details) - - Total: cash at end of quarter (item 1.22) 41 107 Changes in interests in mining tenements Tenement Nature of interest Interest at Interest at reference beginning of end of (note (2)) quarter quarter6.1 Interests in mining tenements relinquished, reduced or lapsed 6.2 Interests in mining tenements acquired or increased Issued and quoted securities at end of current quarter Description includes rate of interest and any redemption or conversion rightstogether with prices and dates. Total number Number quoted Issue price per Amount paid up per security (see note security (see note 3) (cents) 3) (cents)7.1 Preference +securities (description)7.2 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy-backs, redemptions7.3 +Ordinary securities 198,053,150 198,053,150 2,250,000 - 25 17.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy-backs7.5 +Convertible debt securities (description)7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted7.7 Options (description and Exercise price Expiry date conversion factor) 200,000 - 114 8/8/05 350,000 - 46 1/7/07 - - - -7.8 Issued during quarter7.9 Exercised during quarter7.10 Expired during quarter7.11 Debentures (totals only)7.12 Unsecured notes (totals only) Compliance statement 1 This statement has been prepared under accounting policies whichcomply with accounting standards as defined in the Corporations Act or otherstandards acceptable to ASX (see note 4). 2 This statement does give a true and fair view of the mattersdisclosed. Sign here: ......................................... Date: ..27 January 2005.......... Company Secretary Print name: .............Joe Schiavi...................... Notes 1 The quarterly report provides a basis for informing the market howthe entity's activities have been financed for the past quarter and the effecton its cash position. An entity wanting to disclose additional information isencouraged to do so, in a note or notes attached to this report. 2 The "Nature of interest" (items 6.1 and 6.2) includes options inrespect of interests in mining tenements acquired, exercised or lapsed duringthe reporting period. If the entity is involved in a joint venture agreementand there are conditions precedent which will change its percentage interest ina mining tenement, it should disclose the change of percentage interest andconditions precedent in the list required for items 6.1 and 6.2. 3 Issued and quoted securities The issue price and amount paid upis not required in items 7.1 and 7.3 for fully paid securities. 4 The definitions in, and provisions of, AASB 1022: Accounting forExtractive Industries and AASB 1026: Statement of Cash Flows apply to thisreport. 5 Accounting Standards ASX will accept, for example, the use ofInternational Accounting Standards for foreign entities. If the standards useddo not address a topic, the Australian standard on that topic (if any) must becomplied with. This information is provided by RNS The company news service from the London Stock Exchange