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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2015
152 Independence Group NL
Notes to the consolidated financial statements
30 June 2015
33 Events occurring after the reporting period (continued)
The Federal Court of Australia has given orders to Sirius approving the issue of the Acquisition Scheme and Demerger
Scheme Booklets in relation to the proposed transaction. These Booklets were provided to Sirius shareholders in early
August 2015, and will be followed by meetings of shareholders of Sirius to approve the Schemes to be held on 3
September 2015.
The Board of Sirius have unanimously recommended that, in the absence of a superior proposal, all Sirius shareholders
vote in favour of the Acquisition Scheme.
In July 2015, the Company entered into a syndicated facility agreement ("Debt Agreement") with National Australia
Bank Limited, Australia and New Zealand Banking Group Limited and Commonwealth Bank of Australia Limited for a
$550 million unsecured committed term finance facility. The Debt Agreement comprises:
• A five year $350 million amortising term loan facility that will be used to refinance the existing Nova Project finance
facility, and provide funds for the continued development, construction and operation of the Nova Project; and
• A five year $200 million revolving loan facility that will be used to partially fund the payment of the cash component
of the Acquisition Scheme for Sirius (as discussed above) and transaction costs, in addition to providing funding for
general corporate purposes.
The Debt Agreement has been entered into to assist the Company in meeting its obligations under the relevant
acquisition documents that pertain to the acquisition of Sirius by the Company. The Debt Agreement is intended to
provide the Company with funds required for the ongoing construction and development of Sirius’ Nova Project, as well
as general corporate purposes. The Debt Agreement is conditional upon the successful acquisition of Sirius, to be
determined by a court hearing for approval of the Scheme of Arrangement in September 2015.
Other than the above, there has not arisen in the interval between the end of the financial year and the date of this
report any item, transaction or event of a material and unusual nature likely, in the opinion of the Director of the
Company, to affect significantly the operations of the consolidated entity, the results of those operations, or the state of
affairs of the consolidated entity, in future financial years, other than as stated elsewhere in the financial report.
34 Remuneration of auditors
The auditor of Independence Group NL is BDO Audit (WA) Pty Ltd.
2015
$
2014
$
Amounts received or due and receivable by BDO Audit (WA) Pty Ltd for:
Audit and review of financial statements
220,500
261,200
Other services in relation to the entity and any other entity in the consolidated
Group
35,913
2,350
256,413
263,550
Independence Group NL
88