Step 1: Expressing interest in EOI Campaigns

EOI Campaigns are a useful way for Issuers to assess demand for a potential CSF offer. A live EOI campaign will be viewable from an Issuer’s profile page. Once you have created an account and logged-in, you can express your interest in a Company’s EOI campaign. By expressing your interest, you are making a non-binding indication of your interest to participate in the company's intended CSF Offer (if and when it proceeds). Submitting an expression of interest is not an investment, and does not create any obligations or rights.

Step 2: Applying for shares under a CSF Offer

A CSF Offer is an offer of fully-paid ordinary shares in an eligible CSF company (the Issuer). A CSF Offer is made under a CSF Offer Document, which contains important information about the Issuer and the offer. You must consider the CSF Offer Document and the general CSF risk warning before making any investment.

Applications for shares under a CSF offer hosted by BFS can only be made via the application facility operated by BFS on the Website. Once you have created an account and logged-in, you can apply for shares under a live CSF offer accessible from the relevant Issuer’s profile page.

Step 3: Paying for shares under a CSF Offer

BFS engages Assembly Payments to provide payment processing services in relation to CSF Offers hosted by BFS on the Website. In order to apply for shares under a CSF offer, you must agree to the Investor Terms (within the Website Terms of Service) and Assembly Payments’ End User Agreement (which governs your use of Assembly Payments’ payment processing services).

All application money in relation to a CSF offer will be held on trust by BFS in a designated client money account in accordance with BFS’ obligations under the Corporations Act 2001 (Cth).

Step 4: Activities and events while a CSF Offer is open

Communications Facility

While a CSF Offer is open, BFS will provide and administer a communications facility for the CSF Offer, where Website users can ask questions of the Issuer, BFS, see and make comments in relation to the CSF Offer.

When a CSF Offer will be suspended

BFS will suspend a CSF Offer:

  • When it considers that the Issuer has breached, or will be likely to breach, the terms of the CSF Hosting Agreement;
  • After becoming aware that the CSF offer document is defective, unless BFS elects to close the CSF offer on becoming aware that the CSF offer document is defective;
  • On an Issuer’s request; and
  • Where it considers that it must do so under relevant laws and guidance, or where ASIC issues the relevant order to do so.

When a CSF Offer will be closed

BFS will close a CSF Offer:

  • When the maximum period for the CSF offer under law ceases (which is currently 3 months from the date that the CSF offer opened;
  • When it considers a CSF Offer to be complete (i.e. because the maximum offer amount has been reached, or the CSF offer is fully subscribed, and all applicant withdrawal rights have expired);
  • When it considers that the issuer has breached, or will be likely to breach, the terms of the CSF Hosting Agreement;
  • After becoming aware that the CSF offer document is defective;
  • In accordance with any other date for closing the CSF offer disclosed in the CSF offer document;
  • On an Issuer’s request; and
  • Where it considers that it must do so under relevant laws and guidance, or where ASIC issues the relevant order to do so.

Step 5: Return of funds (if offer is unsuccessful)

If an offer is unsuccessful (i.e. because the minimum offer target has not been reached and the period for the CSF Offer has expired), BFS will refund your application money as soon as practicable after the CSF Offer is closed. No interest will be paid to you on your application money.

Step 6: Issue of shares (if offer is successful)

Once an offer is complete, BFS will notify the Issuer and provide: details of all application money held in respect of a CSF Offer, details of all successful applicants under the CSF Offer, and instructions to issue shares.

BFS will request that the Issuer confirm and provide evidence that it has complied with the terms of the CSF Offer, including: shares being issued, investment perks being delivered/ fulfilled, and request for ASIC record to be updated.

Provided that BFS is satisfied that the Issuer has issued shares and otherwise complied with the terms of the CSF Offer, BFS will pay the Issuer the application money received in response to the CSF Offer, less any fees payable to BFS, as soon as practicable. No interest will be paid to an Issuer for the time the application money was held by us.

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