Tiaro Coal Limited Prospectus -- Term Paper

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Total Length: 2171 words ( 7 double-spaced pages)

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There are no other material costs related to the Offer is expected.

15. Who is the investigating accountant for this prospectus and what is their role?

Tiaro Coal Limited's investigating accountant is BDO Kandalls Corporate Finance (NSE) Pty Ltd. 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.

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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 exercised.

18. 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.....

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