Document:

a50635920_ex10-28.htm

 

Exhibit 10.28

LEGEND INTERNATIONAL HOLDINGS, INC.

 

SUBSCRIPTION AGREEMENT

 

Legend International Holdings, Inc.

Level 8, 580 St Kilda Road

South Melbourne

Victoria 3004 Australia

 

Attn: Peter Lee

 

Gentlemen:

 

1.           Subscription.

 

1.1           Offering.  The undersigned understands that Legend International Holdings, Inc. (the “Company”) is offering to sell to investors shares of its Common Stock, US$.001 par value (“Common Stock”) at US$0.05 per share.

 

1.2           Manner of Subscription.  The undersigned (the “Subscriber”) hereby subscribes for and agrees to purchase 150,000,000 Shares of Common Stock for a purchase price of US$0.05 per share or an aggregate purchase price of US$7,500,000 on the terms and conditions described herein.  The minimum subscription is for 100,000 Shares unless the Company agrees to accept a lesser subscription.  The undersigned hereby tenders to the Company a check made payable to the order of “Legend International Holdings, Inc.” in the amount indicated above and two executed copies of this Subscription Agreement.

 

1.3           Offering Period.  The undersigned agrees that this subscription is, and shall be, irrevocable, but his or her obligations hereunder will terminate if this subscription is not accepted by the Company by March 31, 2013 or such later date as may be designated by the Company, but not later than June 30, 2013 (the “Outside Date).  The Company reserves the right, in its sole discretion, to accept or reject this subscription, in whole or in part, for any reason, at anytime through the Outside Date, as such date may be extended by the Company in its sole discretion.

 

1.4           Closing.  The undersigned acknowledges and agrees that the closing of this Offering is conditioned upon the receipt and acceptance by the Company of subscriptions for a minimum of 500,000 shares (“Minimum Subscription”) prior to the Outside Date.

 

 

  

1

  

 

2.           Representations, Warranties and Covenants of the Subscriber.

 

2.1           Representations and Warranties; Risk Factors.  The Subscriber, by signing this Subscription Agreement, represents and warrants to the Company that the Subscriber:

 

(a)           All Common Stock purchased by him are being acquired by him for his own account (or for accounts for which he has sole investment discretion) for investment, without any intention of selling, further distributing, or otherwise disposing of the Common Stock.

 

(b)           None of the Common Stock is registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws.  The Subscriber understands that the offering and sale of the Common Stock is intended to be exempt from registration under the 1933 Act by virtue of Section 4(2) and/or Section 4(6) thereof and/ or the provisions of Regulation S promulgated thereunder, based, in part, upon the representations, warranties and agreements of the Subscriber contained in this Subscription Agreement.

 

(c)           The Subscriber is not a U.S. Person as that term is defined in rule 902(k) of Regulation S and is a resident of the jurisdiction set forth on the Signature Page.

 

(d)           The Common Stock was not offered to the Subscriber in the United States.

 

(e)           At the time of the execution of this Agreement and the time of any offer to the Subscriber to purchase the Common Stock hereunder, the Subscriber was physically outside the United States.

 

(f)           The Subscriber is purchasing the Common Stock for his or her own account and not on behalf of or for the benefit of any U.S. Person and the sale and resale of the Common Stock has not been prearranged with any U.S. Person or buyer in the United States.

 

(g)           The Subscriber is not an underwriter, dealer, distributor or other person who is participating, pursuant to a contractual agreement, in the distribution of the Common Stock offered or sold in reliance on Regulation S.

 

(h)           To the knowledge of the Subscriber, without any independent investigation, neither the Company nor any person acting for the Company has conducted any “directed selling efforts” in the United States as such term is defined in Rule 902(c) of Regulation S, which in general, means any activity taken for the purpose of, or that could reasonably be expected to have the effect of, conditioning the market in the United States for any of the Common Stock being offered in reliance on Regulation S. Such activity includes, without limitation, the mailing of printed material to Investors residing in the United States, the holding of promotional seminars in the United States, and the placement of advertisements with radio or television stations broadcasting in the United States or in publication for the general circulation in the United States that refer to the offering of the Common Stock in reliance on Regulation S.

 

(i)           The Subscriber must bear the substantial economic risks of the investment in the Common Stock indefinitely because none of the Common Stock may be sold, hypothecated or otherwise disposed of unless subsequently registered under the 1933 Act and applicable state securities laws or an exemption from such registration is available (including under Regulation S).  Legends shall be placed on the certificates, representing the Common Stock to the effect that they have not been registered under the 1933 Act or applicable state securities laws and appropriate notations thereof will be made in the Company’s stock books.

 

  

2

  

 

(j)           Neither the Securities and Exchange Commission nor any state securities commission has approved the Common Stock or passed upon or endorsed the merits of this offering.

 

(k)           In evaluating the suitability of an investment in the Company, the Subscriber has not relied upon any representation or other information (oral or written) other than as stated in the Form 10-K for the year ended December 31, 2011 and the Form 10-Q for the quarters ended March 31, 2012, June 30, 2012 and September 30, 2012 or as contained in documents or answers to questions so furnished to the Subscriber by the Company.

 

(l)           The Subscriber is aware that an investment in the Common Stock involves a high degree of risk, and has carefully read and considered the matters set forth in the Form 10-K for the year ended December 31, 2011, and the Form 10-Q for the quarters ended March 31, 2012, June 30, 2012 and September 30, 2012 that has been provided to Subscriber.

 

(m)           The Subscriber acknowledges that estimates or projections included in the Form 10-K for the year ended December 31, 2011 and the Form 10-Q for the quarters ended March 31, 2012, June 30, 2012 and September 30, 2012 that have been provided to Subscriber, if any, were prepared by the Company in good faith but that the attainment of such projections and estimates cannot be guaranteed by the Company.

 

(n)           No oral or written representations have been made, or oral or written information furnished, to the Subscriber in connection with this offering which are in any way inconsistent with the information contained in the Form 10-K for the year ended December 31, 2011 and the Form 10-Q for the quarters ended March 31, 2012, June 30, 2012 and September 30, 2012 that have been provided to Subscriber.

 

(o)           The Subscriber may not directly or indirectly, sell, assign, transfer, pledge, give, subject to lien or security interest or otherwise dispose of or encumber, or participate in the underwriting of any such distribution or transfer of (collectively “Transfer”) any Common Stock in violation of this Subscription Agreement.  Subscriber further  covenants, warrants and represents to the Company that (i) it will not act in any way that would constitute it to be an underwriter of such Common Stock within the meaning of the 1933 Act, and (ii) during the one year period following the Closing, neither the Subscriber nor any of his or her affiliates will, directly or indirectly, hold or maintain any short position in or engage in hedging transactions with respect to the Common Stock or any other securities of the Company.

 

(p)           No actual or purported Transfer of Common Stock, or any interest therein, whether voluntary or involuntary, not in accordance with the provisions of this Subscription Agreement and or applicable law shall be valid or effective to grant to the purported transferee of such Common Stock or interest therein any right, including without limitation the right to cause the registration of such Common Stock on the books of the Company in the transferees’s name or on its behalf, to receive dividends, to receive any distributions upon the dissolution, liquidation or winding up of the affairs of the Company or to vote any shares of capital stock, title or interest in or to such Common Stock, and the transferor of such Common Stock, until such Transfer or purported Transfer shall be rescinded, shall not be entitled to, and hereby specifically waives, all such right, title and interest in and to such Common Stock from the date of such Transfer or purported Transfer.

 

  

3

  

 

(q)           The Subscriber will, prior to any attempted Transfer of Common Stock, give written notice to the Company expressing its desire to effect such transfer and describing in detail the proposed transfer.  Upon receiving such notice, Company shall present copies thereof to counsel for the Company to evaluate said Transfer pursuant to the 1933 Act and the Securities Exchange Act of 1934, as then in force, or any similar statute, and applicable state securities law.

 

(r)           The Subscriber does not presently have any reason to anticipate any change in his circumstances or any other particular occasion or event which would cause it to sell any of the Common Stock.

 

(s)           The Subscriber is fully aware that in agreeing to sell and issue such Common Stock to it and in entering this Subscription Agreement, the Company is relying upon the truth and accuracy of the representations and warranties of the Subscriber made herein.

 

(t)           The Subscriber is experienced in investing in junior exploration mining companies.  The Subscriber has been granted the opportunity to ask questions of, and receive answers from, the Company concerning the terms and conditions of this offering, the Company, and the Form 10-K for the year ended December 31, 2011 and the Form 10-Q for the quarters ended March 31, 2012, June 30, 2012 and September 30, 2012 that have been provided to Subscriber and to obtain such additional information as it deems necessary to verify the accuracy of the information contained in the offering materials or which otherwise may be desired to make an informed investment decision.

 

3.             Disclosure.

 

This offering is limited to accredited investors in reliance upon exemptions contained in the 1933 Act and Regulations D and S promulgated thereunder and applicable state securities laws.  Accordingly, the Company is offering the Common Stock utilizing this Subscription Agreement rather than a formal private offering memorandum.  The undersigned understands that this Subscription Agreement and the Form 10-K for the year ended December 31, 20and the Form 10-Q for the quarters ended March 31, 2012, June 30, 2012 and September 30, 2012 that have been provided to Subscriber contains less information that would be included in a private offering memorandum.  In making an investment decision Subscribers must rely on their own examination of the Company and the terms of the Offering, including the risks involved.

 

4.             Risk Factors.

 

The undersigned acknowledges and agrees that he or she has been advised by the Company that an investment in the Company involves a high degree of risk, including the risk that the Subscriber may lose his or her entire investment in the Company.  Without limiting the generality of the foregoing, the undersigned acknowledges that he or she has been apprised of the risks factors set out in the Form 10-K for the year ended December 31, 2011 and the Form 10-Q for the quarters ended March 31, 2012 June 30, 2012 and September 30, 2012 that have been provided to Subscriber.

 

  

4

  

 

5.             Indemnification and Hold Harmless.

 

If the Subscriber breaches any of the agreements, representations or warranties which the Subscriber has made in his or her Subscription Agreement, the Subscriber shall indemnify and hold harmless the Company (and their respective employees, agents, and affiliates) against any claim, liability, loss, damage or expense (including attorneys’ fees and other costs of investigating and litigating claims) caused, directly or indirectly, by the Subscriber’s breach.

 

6.             Confidentiality.

 

This Subscription Agreement and is personal to each Offeree and does not constitute any offer to any other person.  Each prospective purchaser, by accepting delivery of this Subscription Agreement, agrees not to disclose to anyone, other than his or her professional advisors, and make no copies of this Subscription Agreement and if the offeree does not purchase any shares, to return this Subscription Agreement to the Company at the above address.

 

7.             Miscellaneous.

 

7.1           Governing Law.  This Agreement and the rights of the parties hereunder shall be governed by and construed in accordance with the laws of the State of Delaware applicable to agreements made and to be performed entirely within Delaware.

 

7.2           Entire Agreement; Waiver.  This Agreement constitutes the entire agreement between the parties and supersedes any prior agreements or understanding between them.  This Agreement may not be modified in any manner unless in writing and signed by the party against whom enforcement thereof is sought.  No waiver of any breach or condition of this Agreement shall be deemed to be a waiver of any subsequent breach or condition of a like or different nature.

 

7.3           Binding Effect.  This Agreement and all the terms and provisions hereof shall be binding upon and shall inure to the benefit of the parties hereto, and their respective successors and permitted assigns; provided that, this Agreement may not be assigned by Subscriber without the Company’s prior written consent.

 

7.4           No Third Party Beneficiaries.  The provisions of this Agreement and of any other agreement between the Company and Subscriber are solely for the benefit of the Company and Subscriber and may be changed, terminated or revoked in any manner at any time by mutual agreement between the Company and Subscriber without notice or liability to any other person.

 

7.5           Further Assurances.  Each of the parties hereto agrees to execute, acknowledge, deliver, file, record and publish such further certificates, instruments, agreements and other documents and to take all such further action as may be required by law or be necessary or appropriate in order to carry out the provisions of this Agreement.

 

  

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7.6           Counterparts.  This Agreement may be executed in several counterparts, each of which shall be deemed an original but all of which shall constitute one and the same instrument.

 

7.7           Section Headings.  Section headings herein have been inserted for reference only and shall not be deemed to limit or otherwise affect, in any manner, or be deemed to interpret in whole or in part any of the terms or provisions of this Subscription Agreement.

 

 

  

6

  

 

EXECUTION PAGE

 

IN WITNESS HEREOF, the Subscriber has executed this Subscription Agreement.

 

SUBSCRIBER:

 

Name (Print) PLANETES INTERNATIONAL LIMITED

	
 

Address of

Residence

	
 

UNIT 820, 8TH FLOOR BLOCK

A, DAMANSARA INTAN,

1 JALAN SS20/27, 47400

PETALING JAYA, SELANGOR DE,

MALAYSIA

	  	  	  
	  	  	  	  	  

Social Security Number or Tax Identification Number:                                       

1.      Number of shares Subscribed for:     150,000,000

 

2.      Total Payment obligation:                   US$0.05 per share, payable upon subscription.

 

3.      Checks delivered herewith:                                                                      

 

Date 17 January 2013

 

Signature  s/s Nelson Fernandez

 

Name        Nelson Fernandez

 

ACKNOWLEDGED AND AGREED:

 

LEGEND INTERNATIONAL HOLDINGS, INC.

 

 

By   s/s Peter James Lee

Be sure to include:

(1)  Your check for your subscription;

(2)  Two signed copies of this Subscription Agreement.

 

7a50635920_ex10-29.htm

 

		 Exhibit 10.29

 

 

Exhibit 10.29

	  	
Deed

	  	  
	
Investment in Paradise Phosphate Pty Ltd

	  
	 	 
	 	 
	 	 
	
Deed of release of security

	  
	  	  
	 	 
	
Paradise Phosphate Limited

Legend International Holdings, Inc.

(each as Grantor)

 

Acorn Capital Limited

(as Secured Party)

	  
	  	  

 

  

  

  

 

 

 

 

Contents

 

 

 

	 	Table of contents	 
	 	 	 
	 	 	 
	
1

	
Definitions and interpretation

	
2

	 	 	 
	
 

	

1.1   Definitions

	
2

	
 

	

1.2   Deed components

	
2

	 	 	 
	
2

	
Release

	
3

	 	 	 
	
3

	
Further Assurance

	
3

	 	 	 
	
4

	
Title Documents

	
3

	 	 	 
	
5

	
Costs and Expenses

	
3

	 	 	 
	
6

	
Governing Law

	
3

	 	 	 
	
7

	
Counterparts

	
4

	 	 	 
	  	
Schedule 1

	  
	 	 	 
	  	
Security Documents

	
5

	 	 	 
	  	
Signing page

	
6

	 	 	 
	 	Herbert Smith Freehills owns the copyright in this document and using it without permission is strictly prohibited.	 

 

  

Deed of release of security    Contents 1

  

 

 

 

Deed of release of security

 

 

 

Date ►29 April 2013

 

 

	
Between the parties

	  
	 	 
	 	 
	
Grantors

	
Paradise Phosphate Limited

 

ACN 154 180 882 of Level 8, 580 St Kilda Road, Melbourne VIC 3004

 

Legend International Holdings, Inc

 

ARBN 120 855 352 of Level 8, 580 St Kilda Road, Melbourne VIC 3004

 

(each a Grantor)

	 	 
	 	 
	
Secured Party

	
Acorn Capital Limited

 

ACN 082 694 531 of Level 12, 90 Collins Street, Melbourne Vic  3000

 

(Secured Party)

	 	 
	 	 
	
Recitals

	
1    Each Grantor charged and mortgaged its property under the Security Documents.

	 	 
2    All moneys the payment of which was secured under the Security Documents have been paid or repaid or otherwise satisfied in full.

	 	 
3    The Secured Party agrees to release the Released Assets from the Security Documents in accordance with this deed.

	 	 
	 	 
	
This deed witnesses

	
that, for valuable consideration, the receipt and sufficiency of which is acknowledged, the parties agree as follows:

	 	 

 

  

Deed of release of security    page 1

  

 

 

 

	
1

	
Definitions and interpretation

 

	
1.1

	
Definitions

 

The meanings of the terms used in this deed are set out below.

 

	
Term

	
Meaning

	
Business Day

	
a day on which banks are open for business in Brisbane and Melbourne excluding a Saturday, Sunday or public holiday.

	
Effective Date

	
29 April 2013.

	
Financing Statement

	
data registered (or that is to be registered) pursuant to an application for registration under section 150(1) of the PPS.

	
Financing Change Statement

	
data amending a Financing Statement registered on the PPS Register.

	
PPSA

	
the Personal Property Securities Act 2009 (Cth).

	
PPS Register

	
the Personal Property Securities Register established under section 147 of the PPSA.

	
Released Assets

	
the whole of the property secured under the Security Documents.

	
Security Document

	
each document described in Schedule 1.

	
Title Document

	
any original, duplicate or counterpart certificate or document of title including any real property certificate of title, certificate of units in a unit trust, share certificate or certificate evidencing an investment instrument or negotiable instrument (in the case of the terms ‘certificate’, ‘investment instrument’ or ‘negotiable instrument’, each within the meaning of the PPSA).

 

	
1.2

	
Deed components

 

This deed includes any schedule.

 

  

Deed of release of security    page 2

  

 

	 	2 Release

 

 

	
2

	
Release

 

On and from 5:00pm on the Effective Date, the Secured Party:

 

	
  

	
(a)

	
releases the Released Assets from the operation of the Security Documents; and

 

	
  

	
(b)

	
releases each Grantor from all of its obligations under the Security Documents.

 

	
3

	
Further Assurance

 

	
  

	
(a)

	
Within 10 Business Days after the Effective Date, the Secured Party must register a Financing Change Statement which amends any Financing Statement registered on the PPS Register with respect to the Released Assets to reflect the release of the security under this deed.

 

	
  

	
(b)

	
In relation to the Security Document listed as item 4 in Schedule 1, the Secured Party must on the Effective Date execute and give to Legend International Holdings, Inc.:

 

	
  

	
(1)

	
a release of mortgage in Form MMOL-06 in accordance with Chapter 7 of the Mineral Resources Act 1989 (Qld); and

 

	
  

	
(2)

	
a letter addressed to the Queensland Department of Natural Resources and Mines requesting the removal of all caveats registered in favour of the Secured Party in respect of mining leases ML 90190 and ML 90191.

 

	
  

	
(c)

	
In addition to clauses (a) and (b) of this deed, the Secured Party must take all reasonable steps and execute all documents reasonably required by each Grantor to give effect to the transaction contemplated by this deed.

 

	
4

	
Title Documents

 

The Secured Party agrees to return to the Grantors on the Effective Date all Title Documents held by the Secured Party in relation to the Released Assets.

 

	
5

	
Costs and Expenses

 

Paradise Phosphate Limited must pay all costs and expenses (including legal costs and expenses on a full indemnity basis) of the Secured Party in relation to the preparation, execution, delivery, completion and performance of this deed and any document referred to in clause 3.

 

	
6

	
Governing Law

 

This deed is governed by the laws of Queensland.

 

  

Deed of release of security    page 3

  

 

	 	7 Counterparts

 

 

	
7

	
Counterparts

 

This deed may be executed in any number of counterparts. All counterparts, taken together, constitute one instrument. A party may execute this deed by signing any counterpart.

 

  

Deed of release of security    page 4

  

 

 

Schedule 1

 

 

Security Documents 

 

	
  

	
1

	
The security agreement dated 7 February 2012 granted by Legend International Holdings, Inc (Legend) in favour of the Secured Party.

 

	
  

	
2

	
The share mortgage dated 7 February 2012 granted by Legend in favour of the Secured Party.

 

	
  

	
3

	
The general security agreement dated 7 February 2012 between Paradise Phosphate Limited (formerly Paradise Phosphate Pty Ltd)(Paradise) and the Secured Party.

 

	
  

	
4

	
The mortgage dated 7 February 2012 over mining leases ML 90190 and ML 90191 granted by Legend in favour of the Secured Party registered with the Queensland Department of Natural Resources and Mines as dealing numbers 1040294 and 1040295, respectively.

 

	
  

	
5

	
The mortgage executed on or about 7 February 2012 over mining leases ML 90190 and ML 90191 granted by Paradise in favour of the Secured Party and not registered with the Queensland Department of Natural Resources and Mines.

 

  

Deed of release of security    page 5

  

 

	 	Signing Page

 

Signing page

 

 

Executed as a deed 

	  	
Grantor

	  	
Signed sealed and delivered by

Paradise Phosphate Limited

by

	
sign here ►

	
S/S PETER LEE

	  
	  	
Company Secretary/Director

	  
	
print name

	
PETER LEE

	  
	
sign here ►

	
S/S CRAIG MICHAEL

	  
	  	
Director

	  
	
print name

	
CRAIG MICHAEL

	  
	  

 

	  	
Grantor

	  	
Signed sealed and delivered by

Legend International Holdings, Inc.

by its attorney Peter James Lee dated 12 March 2013

	
sign here ►

	
S/S PETER LEE

	  
	  	  	  
	
print name

	
 PETER LEE

	  
	
sign here ►

	  	  
	  	  	  
	
print name

	  	  
	  

 

  

Deed of release of security    page 6

  

 

 

	 	Signing Page

 

	  	
Secured Party

	  	
Signed sealed and delivered by

Acorn Capital Limited

by

	
sign here ►

	
s/s M SHEEHAN

	  
	  	
Company Secretary/Director

	  
	
print name

	
M SHEEHAN

	  
	
sign here ►

	
S/S DOUGLAS LOH

	  
	  	
Director

	  
	
print name

	
DOUGLAS LOH

	  
	  

 

Deed of release of security    page 7

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