Racing Club No 3 Ltd Prospectus 12th March 2020 RACING CLUB NO 3 LTD A.C.N. 633 140 459 AFS Rep. No. 001275902 PROSPECTUS 12th March 2020 Registered Office: Nexus Norwest, Level 5, 4 Columbia Court, Norwest NSW 2153 Administration Office: P.O. Box 6992 Norwest NSW 2153 Phone: 1800 687 066 Fax: (02) 9672 6412 Website: www.racingclub.net.au Email: [email protected] ______________________________________________________________ This Prospectus is dated 12th March 2020. No securities will be issued on the basis of this Prospectus later than 13 months after the date of this Prospectus. THE THRILL OF RACING TRACK WORK IN PRE-TRAINING Page 1 of 48 Racing Club No 3 Ltd Prospectus 12th March 2020 Table of Contents IMPORTANT INFORMATION ................................................................................................................... 3 1. INVESTMENT SUMMARY ............................................................................................................. 5 1.1 The Offer ............................................................................................................................... 5 1.2 Key terms and conditions of Offer .................................................................................................... 5 2. BUSINESS OVERVIEW .................................................................................................................. 6 2.1 Nature of the business ...................................................................................................................... 6 2.2 Business Assets ............................................................................................................................... 9 2.3 The Manager ............................................................................................................................. 16 2.4 Significant dependencies ................................................................................................................ 17 2.5 Strategy and plans ........................................................................................................................... 21 2.6 Finance arrangements .................................................................................................................... 21 2.7 Valuation ............................................................................................................................. 21 2.8 Conflict of interest .......................................................................................................................... 21 3. RISK FACTORS ........................................................................................................................... 22 3.1 Business risk factors ........................................................................................................................ 22 3.2 Investment risk factors.................................................................................................................... 23 4. FINANCIAL INFORMATION ......................................................................................................... 24 4.1 Financial Affairs ............................................................................................................................. 24 5. BOARD AND MANAGEMENT ...................................................................................................... 25 5.1 Board of Directors ........................................................................................................................... 25 5.2 Interests of Directors ...................................................................................................................... 26 5.3 Corporate Directory .......................................................................................................................... 26 6. DETAILS OF THE OFFER .............................................................................................................. 26 6.1 Structure of the offer ...................................................................................................................... 26 6.2 Proposed use of proceeds ............................................................................................................... 28 6.3 Terms and conditions of the offer................................................................................................... 29 6.4 Benefits ............................................................................................................................. 30 6.5 Dividend Policy / Prize Money and Sales Proceeds Distribution ..................................................... 30 7. GLOSSARY ................................................................................................................................ 31 8. EXECUTION OF PROSPECTUS ...................................................................................................... 32 9. HOW TO APPLY FOR SHARES...................................................................................................... 33 ANNEXURES……………………………………………………………………………………………………………………………….….36 Page 2 of 48 Racing Club No 3 Ltd Prospectus 12th March 2020 IMPORTANT INFORMATION completing and lodging the application form that accompanies this Prospectus. Offer The Offer contained in this Prospectus is an invitation Forward-looking statements by Racing Club No 3 Ltd (“RCN3” or “Company”) to This Prospectus contains forward-looking statements. acquire fully paid A Class shares (“Shares”) in the Forward-looking statements can be identified by the Company. use of forward-looking terminology such as ‘may’, ‘will’, ‘expect’, ‘anticipate’, ‘estimate’, ‘would be’, Prospectus ‘believe’, ‘continue’ or the negative or other variations th This Prospectus is dated 12 March 2020 and a copy of comparable terminology. These statements are was lodged with the Australian Securities and based on the Directors’ assessment of present Investments Commission (“ASIC”) on that date. economic and operating conditions, and on a number of assumptions regarding future events and actions Expiry date that, at the date of this Prospectus, are expected to No shares will be issued on the basis of this Prospectus take place. Forward-looking statements are not later than 13 months after the date of this Prospectus. guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and Exposure period other important factors, many of which are beyond The Corporations Act 2001 (Cth) (“Corporations Act”) the control of the Company. Such statements are prohibits the Company from processing applications subject to risk and uncertainties that could cause for shares in the 7 day period after the date of actual results to differ materially from those projected. lodgement of this prospectus with ASIC. This period Such statements (none of which is intended as a may be extended by ASIC for a further 7 days. This guarantee of performance) are subject to certain period is an exposure period to enable this Prospectus assumptions, risks and uncertainties, which could to be examined by market participants prior to the cause the actual future results, achievements or raising of funds. Applications received during the transaction to differ materially from those projected exposure period will not be processed until after the or anticipated. The Directors’ expectations, beliefs and expiry of the period. No preference will be given to projections are expressed in good faith and are applications received during that period. believed to have a reasonable basis. No assurance is or can be given that the results, performance or No performance guarantee achievements expressed or implied by the forward- Purchasing shares in the Company should be regarded looking statements contained in this Prospectus will as speculative and shareholders should regard their actually occur. Accordingly, you should not place shares as an entry in to racing Horses for undue reliance on these forward-looking statements. entertainment value rather than returns before accepting this Offer. Prospective shareholders should No cooling-off rights seek independent professional investment advice Cooling-off rights do not apply to an investment in before accepting this Offer. Please consult your legal, Shares issued under this Prospectus. This means that, financial or other professional adviser before making a in most circumstances, you cannot withdraw your decision to invest in shares. Horses racing is a application once it has been accepted. speculative venture and no person involved in producing this Prospectus (including the Company and Photographs its directors and advisers) guarantees the performance Photographs used in this Prospectus which do not of the Shares or any capital or income. have descriptions are for illustration purposes only and should not be interpreted to mean that any person Offer availability shown endorses the Prospectus or its contents. The Offer constituted by this Prospectus is only available to persons receiving this Prospectus within Replacement Prospectus Australia and does not constitute an offer in any This Prospectus is a replacement prospectus and jurisdiction which, or to any person whom, it will be makes changes to the original prospectus dated 23 unlawful to make such an offer. An application for November 2018. The material changes made to the shares, pursuant to this offer, can only be made by original prospectus were: Page 3 of