crowd-sourced funding offer document - fundsition · crowd-sourced funding offer document 16 july...

Crowd-sourcedfundingofferdocument

16July2019

Offeroffully-paidordinarysharesinLightYearGroupPtyLtdat$1.50persharetoraiseamaximumof$450,000

Thiscrowd-sourcedfunding(CSF)offerdocumentrelatestotheOfferoffully-paidordinarysharesinLightYearGroupPtyLtd.ThisOfferismadeundertheCSFregimeinPart6D.3AoftheCorporationsAct2001(CorporationsAct).

IssuerLightYearGroupPtyLtdACN631302817

IntermediarySMECrowdFunderPtyLtdAFSL512643

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Contents

RiskWarning 4

LetterfromtheChairman 5

CompanyDetails 7

DescriptionoftheBusiness 8

BusinessModel 13

CapitalStructure 21

DirectorsandSeniorManagers 23

Risks 26

FinancialInformation 30

InformationabouttheOffer 34

InformationaboutInvestorRights 39

Glossary 43

Annexure 44

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Section1:

RiskWarning

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Crowd-sourcedfundingisrisky.Issuersusingthisfacilityincludeneworrapidlygrowingventures.Investmentinthesetypesofventuresisspeculativeandcarrieshighrisks.

Youmayloseyourentireinvestment,andyoushouldbeinapositiontobearthisriskwithoutunduehardship.

Evenifthecompanyissuccessful,thevalueofyourinvestmentandanyreturnontheinvestmentcouldbereducedifthecompanyissuesmoreshares.

Yourinvestmentisunlikelytobeliquid.Thismeansyouareunlikelytobeabletosellyoursharesquicklyoratallifyouneedthemoneyordecidethatthisinvestmentisnotrightforyou.

Eventhoughyouhaveremediesformisleadingstatementsintheofferdocumentormisconductbythecompany,youmayhavedifficultyrecoveringyourmoney.

Therearerulesforhandlingyourmoney.However,ifyourmoneyishandledinappropriatelyorthepersonoperatingtheplatformonwhichthisofferispublishedbecomesinsolvent,youmayhavedifficultyrecoveringyourmoney.

Askquestions,readallinformationgivencarefully,andseekindependentfinancialadvicebeforecommittingyourselftoanyinvestment.

Letter from the Chairman – Grant Abbott IwouldliketotakethisopportunitytoinviteyoutoreviewtheattachedOfferDocumentofLightyearGroupPtyLtd(“LY”)anditssubsidiarybusinesses,LightYearDocs,ILoveSMSFandtheSMSFTrainingGroup.ThisOfferDocumentistwo-fold:Firstly,toproviderelevantinformationforthepurposeofinvestinginthecompany,andsecondlymakingyouawareofthedevelopmentandrolloutofLYsportfolioofleadingproductsandservices,thebrand,themarketingandthebusinessstrategy.Asaninvestoranduser,likemanyothersyourinvestmentmaygrowthemoreinvestor/userscomeonboardasaresultofthisuniqueoffer.LYhastheteam,thecommercialfootprintandarangeofproductsandservicestogrowandscalequicklyandprofitably.TheILoveSMSFbrandandoperationhasbeeninexistencefortwoyearsandhassuccessfullyreleasedseveraleventsandCPDprogramsintothemarket.TheSMSFTrainingGroupwasestablishedforthepurposeofenablingaccountants,financialplannersandSMSFadviserstomeettheireducationrequirementsunderFASEA.ItsflagshipRG146SMSFSpecialistAdviserProgramhashadmorethan120enrolments.LY,itsteamandbrandsthriveonchangeandprovidingtools,educationandresourcestoenablethefinancialservicescommunitytoadaptandprofitfromchange.WithCPDnowlawunderFASEAILSwithitsaffordablespecialistSMSFCPDsolutionsarereadytotacklethelong-termspecialistupskillingofthefinancialservicesindustry.

ThecorefinancialdriverforLYistheLightYearDocsdivisionwheremorethan$1millionhasbeeninvestedtobringthemostadvanceddocumentandstrategyautomationsystemtoAustralia.Thisisascalable,intuitiveandautomatedprecedentsystemusedbymajorlawfirmsintheUSandUKfortheirdocumentbuildingaswellasbymultinationalcompaniestocomplete100,000financialcontractsanddocumentsdaily.Thesystemisbuiltforlargescaleandishighlyadaptivetomulti-documentstrategiesandprocesses.LYDocswasreleasedinMay2019throughasoftlaunchtoourclosestsupportersandprovidesawideandgrowingrangeoflegal,taxandSMSFdocumentsplusasuiteofspecialiststrategicdocumentsfocusedonLeadingMemberplanningtoretainwealthwithinabloodlinefamilyunit—arelativelynewandfreshoptiontargetingthe$300BnofSMSFmoniesdestinedtobethesubjectofestatetransitioninthenext20years.Inaddition,theintuitivesystemprovidesfinancialplannersandlicensedaccountantswithalegalsystemenablingthemtocompleteWills,SMSFestateplanning,healthdirectives,jointventures,syndicatedunittrustsandmuchmoreallwithlegalsignofffromourassociatedlegalfirmTGALegalPtyLtd,therebyprovidingaprofitablelayerofadvisingfees.

ThesearestilltheearlydaysforLY,butthefutureisexciting.LYiscurrentlyseekingbetween$300,000to$450,000ofcapitalforbetween9%to13%ofthecompany’sordinaryshareholding.TheuseoftheFundsistoprovidefurtherdevelopmentofLYDocs,increasemarketsharethroughamarketingandsalescampaignAustraliawide,boostcustomersupportandrolloutadditionalproductsincludingspecialisedSMSFparaplanningandinvestigatingtherolloutoftheplatformintheUSandUK.Theminimuminvestmentis$3,000withamaximum$10,000unlessyoucanclaimsophisticatedinvestorstatus.Thisoffercloseson28thAugust2019.Let’sworktogethertomakeLYaleadingnameinthefinancialservicesindustryandbeyond.

Kindregards

GrantAbbottChairman

StayStrategic

LightYearDocs.com.au Page6of34ILoveSMSF.com

Section2:

InformationabouttheCompany


2.1 CompanydetailsThisofferofsharesismadebyLightYearGroupPtyLtdACN631302817(theCompany).TheCompanywasincorporatedon30January2019.

Companyname LightYearGroupPtyLtd

ACN 631302817

Offertype Crowd-sourcedfunding

Offerdate 16July2019

Offerdetails Offeroffully-paidordinarysharesinLightYearGroupPtyLtdat$1.50persharetoraiseamaximumof$450,000oraminimumof$300,000.

Registeredoffice C/-ILoveAccountingPtyLtd5WyanganValleyWayMudgeerabaQLD4213

Principleplaceofbusiness Level5ToowongTower9SherwoodRoadToowongQLD4066

Relatedcompanies LightYearDocsPtyLtdandILoveSMSFPtyLtdarerelatedpartiesofLightYearGroupPtyLtdinaccordancewithsection738G(3)oftheCorporationsAct2001.

SMSFAngelsPtyLtdATFILoveSMSFTrustholds74%ofthesharesinLightYearGroupPtyLtdandisthereforearelatedpartyinaccordancewithsection738G(3)oftheCorporationsAct2001.

Intermediary SMECrowdFunderPtyLtdACN624517719,AFSL512643


2.2 Descriptionofthebusiness2.2.1 Whoarewe?TheLightYearGroupconsistsofthreedifferentbusinessdivisions:

BusinessDivision Description

LYDocsandourstrategyautomationtechnologyisthemainrevenuedriveroftheGroupwithmorethan80%ofincomeexpectedfromthisdivisionalone.

LYDocsdelivershigh-qualityyetlow-pricedlegal,taxandbusinessdocumentationforaccountants,financialplanners,businessesandotheradvisors.Additionalunlimiteddocumentpackagesareavailableforaccountingfirmsseekingtocontrolthelegal,taxandSMSFdocumentandstrategyprocess.

LYDocsisthefirstofitskindtodevelopcomplexbutsimpletouseStrategyAutomation.ThisautomationwillprovidetoLYDocsusers,theabilitytoproducemultipledocumentpackageslinkedtomarketleadingstrategiesattheclickofabutton.

Theplatformoperates24/7,runsefficientlyandcanbescaledtocaterforsubstantialgrowth.Itcanhandlemorethan100,000documentsandstrategiesperdayifrequired.

ILoveSMSFisoursuccessfulSMSFcontinuingprofessionaldevelopment(“CPD”)offeringforadvisersandaccountants.CPDisnowthelawandlegallyrequiredundertheFinancialAdviserStandardsandEthicalAuthoritywithanylicensedadviserrequiredtocomplete40hoursoftrainingperannum.

ILoveSMSFisbasedonamonthlymembershipmodelofferedperuserorwrappedupinafirmwideoffering.Plus,anallinone,unlimiteddocumentsandstrategiesplusfirmwideCPDisavailableforanyshareholderatthelowfeeof$695permonth.


TheSMSFTrainingGroupwasestablishedforthepurposeofenablingaccountants,financialplannersandSMSFadviserstomeettheireducationrequirementsunderFASEA.CurrentlyitsflagshipSMSFSpecialistAdviserProgramhashadmorethan120enrolments.

TheSMSFTrainingGroupdeliversthiseducationviaitsonlineLearningManagementSystem.

ThemajorityshareholderoftheGroupisGrantAbbott,anSMSFindustryveteranwhohasgivenmorethan2,000presentations,writtenfivebooksonSMSFsandtrainedmorethan1,000accountantsandfinancialplannerstobecomeSMSFspecialistadvisers.Grant’sregularindustrywebinarsgenerallyhaveinexcessof300participantsandshowcasetheLightYearGroupproductsandservices.

AlthoughtheLightYearGroupstartedin2019,itssubsidiaryILoveSMSFcommencedoperationsin2016intheSMSFtrainingfield.ButthisisnotanewenterpriseforGrantAbbottandisinfactthethirddocumentandtrainingplatformhehasbeeninstrumentalinbuilding,eachonemoretechnologicallyadvanced,leanerandmoreautomatedthantheonebefore.Thepriorbusinessespaidregulardividendstoshareholdersandhadasuccessfulexitstrategyforshareholdersthroughatradesale.

Withastrong,experiencedandleanleadershipteam,successfultrainingandcontentcreationplusarobustenterprisegradedocumentandstrategyautomationsystemstheLightYearGroupiswellplacedtomarketandgrowitsexistingbusinesslinesplusdevelopfurtherofferingsincludingspecialistSMSFStatementsofAdviceandparaplanningforadvisersseekingtheseservices.


2.2.2 Whatisourbusinessstrategy?OurstrategyistonotonlybringtomarketbutbethenumberoneproviderofStrategy-As-A-Service(“SAAS”)andultimatelythe“goto”destinationforbundledtraining,continuingprofessionaldevelopment,specialistSMSFconsultingadvice,documentsandbusinesspartneringsolutionsthatareallunderpinnedbyourstrategies.Ouraimistobethelowestcost,yethighestqualityon-linedocumentandstrategyproductionplatforminAustralia.

StrategyasaService

UnderpinningourentiresolutionisStrategy.

GrantAbbottandthetechnicalteamcreatethestrategies,theydevelopthedocumentsinconjunctionwithTGALegalwhoalsolegallysignoffonthese,ourplatformteamengineerthestrategyontothesystem,ILoveSMSFtrainsonthestrategyandhowtouseLightYearDocstocreate,completeand


executethestrategyandtheadviserchargestheirclientforaquick,compliantandeffectivestrategy.

Welivebyourcatchphrase“StayStrategic”.

Education&ContinuingProfessionalDevelopment

Ourstrategyistodelivertoadvisorstheireducation,training,continuingprofessionaldevelopmentrequirementsatthelowestpossibleprices.Wecandothisthroughourtrainingplatformandtheutilisationofwebinarsandothertools.

DocumentPlatform

Ourstrategyistoprovidetoourusersadocumentandstrategyassemblyenginethatisquick,compliant,andeasytouse.TheLightYearDocsplatformcutsupto90%ofthecompletiontimeandprofessionalcoststoproduceandcompleteasuccessfulsetofstrategicdocuments.

Wehaveadocumentedcontinualreviewprocessinplacetoensureourdocumentscontinuetoremainfresh,relevantandcompliant.

Ourdocumentsextendtoawiderangeofapplicationsforbusiness,tax,accountingandsuperannuationstructures,strategiesandadvice.

Ourstrategyinreleasingnewdocumentstomarket,istoprovidetrainingaroundnotonlythedocumentsbutthestrategiesthatthesedocumentscanbeusedfor.

Strategy&ProcessAutomation

OurstrategywithourLightYearDocsplatformistoprovideacompletesetofdocumentsforadvisorsthatmatchtodifferentstrategies.Anautomatedprocessthattakesouttheguessworkbehindselectingtherightdocuments,processandinformationforadvisorstoprovidetotheirclients.

Ourfuturedevelopmentsshouldseesignificantadditionstothisareaincludingparaplanning,andprocessandworkflowsolutions.

BusinessPartnering

Ourstrategyistopartnerandworkwithouradvisorstoenablethemtoimprovetheiradvisorybusinessesandmoreimportantlyworkonthevalue-addsolutionsthattheycanprovidetotheirclients.Wewanttohelpthemtakeawaytheircomplianceandadministrationheadachesthroughoutsourceandtechnologicalsolutions.


EfficiencyImprovements&LowerCosts

OurstrategyistoprovidethehighestqualityandbestsolutionstoouradvisorsBUTmostimportantlydosoatthelowestcost.Formostthiswouldbeadifficultandalmostcompetingtask,butwehavebeenabletosucceedthroughresearch,developmentandyearsofexperienceandknowledgetodeveloptherightplatformsinadditiontoensuringwehavetherightteaminplace.Ourplatformshaveconsiderableabilitytocontinuetoscaleanddeliverthankstoourtechnologyandlowfixedcosts.

ToDisrupt&Differentiate

LightYearGroup’sstrategytodisruptanddifferentiatefromitscompetitionisthrough:

ü Strategy-As-A-Service–wearetheonlyonefocusedondeliveringthisasanoutcome;ü QualityofitsDocumentSuite;ü Technicalknowledgeandexperienceofitsteam;ü Continualreviewprocess–documentsandstrategiesshouldremainfreshand

compliantthroughourdocumentedprocess;ü Abilitytocreateanddelivertomarket–wecandevelop,review,obtainlegalsign-off,

andhavedocumentsupwithinhours,notweeksandmonthslikeourcompetition;ü Trainingandeducationsolutions–deliveredasalow-costmodel;andü Communityofactiveusers–weencourageouradvisorstoshareanydocumentsthey

wishtomakeavailableortobeautomated.Throughthisourwholenetworkcanengage,learnandgrow.


2.3 TheLightYearGroupbusinessmodel

TheLightYearGroupbusinessmodelembracesaplatform(anendtoendsolution)creatingandtrainingonstrategies,withmarketingandclientfacingtoolstoenableaccountants,financialplannersandSMSFadviserstobuildanddevelopclienttrustingstrategiestobenefittheirpersonalandfamilyfinancialposition.

ThankstotechnologyandlowfixedcoststheLightYearGroupisabletoprovidethebest,moststrategicandfreshestdocumentation,strategies,training,continuingprofessionaldevelopmentandspecialistSMSFadvisercoursesatthelowestpossibleprices.TheLightYearGroup’sgoalistomaximisethenumberofprofessionalsandbusinessesthatuseourplatformandprovidetakeupofnewproductsandserviceslaunchedthroughtheLightYearGrouporoneofitsjointventurepartners.

Ourspecialtyisthe$750billionSMSFindustrywhereadvicefeesareexpectedtogrowto$4.8billionperannumby2028.Itisherewherewedeliverstrategicknowledgeanddocumentationtoawiderangeofaccounting,financialplanningandSMSFadvisersonasubscriptionbasis.ApartfromSMSFs,ourbusinessmodelistocontinuetobe,thelowestcostandhighestqualityon-linedocumentandstrategyproductionplatforminAustralia.WeknowaccountantsarecostconsciousandLYwantstodeliveronthatforAustralia’stensofthousandsofaccountingfirms,fromsmallone-manoperationstolargemulti-partnerfirms.

Therecentlylaunched(May2019)LightYearDocsdocumentandstrategyassemblyenginehasexperiencedastrongtakeup.Itisdestinedtoreshapetheaccounting,financialplanning,SMSFadvice,mortgagebrokingandlegalindustrieswithitsquick,compliantandeasytouseplatformthatcutsupto90%ofthecompletiontimeandprofessionalcoststoproduceandcompleteasuccessfulsetofstrategicdocuments.TheLightYearDocsplatformisnotsolelyreliantonSMSFsbutextendstoawiderangeofapplicationsforbusiness,tax,accountingandsuperannuationstructures,strategiesandadvice.Thisincludes:

i) SMEagreementsincludingbuy-sells,employmentagreements,servicescontracts,debtcollectionnotices,shareholderagreements,licensingagreements,non-disclosureandconfidentialityagreementsplusemployeeshareplans;

ii) Accountingandtaxstructuresincludingcompanies,trustssuchasdiscretionary,unittrustsandfixedtrusts,partnershipandjointventureagreements,loanagreementsincludingDivision7Aloanagreementsandtrustdistributionminutes;

iii) SMSFstructuresandstrategiesincludingSMSFtrustdeeds,specialpurpose

corporatetrustees,limitedrecourseborrowingarrangements,superannuationunrelatedunittrustinvestmentvehicles,SMSFjointventures,account-basedpensionswithin-builtestateplanning,transitiontoretirementincomestreams,investmentstrategies,contributionsandotherreservesplusbindingdeathbenefitdirectionsandnominations;


iv) EstatePlanningforbothSMSF,discretionarytrustandsoontobereleasedwillsandtestamentarytrusts.IncludedinthissuiteofdocumentsisourestateplanningandbloodlineprotectionsetofLeadingMemberdocumentsandstrategies;

v) SMSFandSMEstrategypackswhereasetofdocumentsandprocessesare

purposebuiltforaclientintoacompliantstrategy.Ourmostadvancedautomatedstrategy,aSMSFrelatedpartylimitedrecourselendingarrangementpackwhichconsistsofninedocumentsbundledtogetherandcanbecompletedinminutesnotweeksandcosts$450not$5,000+atalegalfirm;and

vi) FinancialandSMSFAdvisingstatementsofadvicecoveringmorethaneight

differentSMSFstrategies–tobereleasedinOctober2019.

OurcurrentdocumentlistingcanbefoundattheLightYearDocswebsitewithmoredocumentsandstrategiesaddedonaweeklybasis.ThesearelaunchedandshowcasedatourregularThursdaymorninglaunchandtrainingwebinar.

OurmostrecentlaunchwasforMemberPensionPaymentsandInvestmentStrategiesforthe2020incomeyear.


2.3.1 Howwemakemoney

MonthlyMemberFees

Small Accounting / Financial Planning

Practice

• Scholar CPD Package$49 per month or $490 per annum. The Scholar package has more than 20+ CPD hours per annum. On the strategy and document front our “$99 Max” pricing per document provides even the smallest professional with great documents, strategies at low cost.

Larger Accounting / Financial Planning

Practice

• LY Strategist Package$795 per month. For an accounting, financial planning or SMSF advisory firm seeking to use the system we have our LY Strategist package which includes firm wide continuing professional development, technical and strategy support, unlimited access to all training and CPD materials plus unlimited access to the LightYear Docs platform of 40+ documents and strategies. Only ASIC fees for the establishment of a company are additional payments to the $795 per month all-inclusive offering.

For those firms not looking at training or CPD, our Unlimited Document and Strategy package is $595 per month or on a per document basis of $99 per document.

Multi Partner Practice

• LY offers a limited number of five year non-exclusive licences which provides an all-inclusive comprehensive package for the five year period including:ü Unlimited documents for five years;ü Firm wide specialist SMSF CPD;ü Technical and strategy support.

The cost of the Unlimited License package is $27,500 and ideally suited to a firm with 100 or more SMSF, regular trust and company set ups.


PAYGFees

LightYearDocsalsooffersregistereduserstheopportunitytopurchasedocumentsasPay-As-You-Go(“PAYG)users.Thismaybenefitlowvolumeorone-offpurchaserssuchasdirectuserswantingtosetupacompanyorotherstructure.

AdditionalProducts&Services

LightYearGroupalsoreceivesrevenuefromothervalueaddproductsandservicesincluding:

• Bespokesolutionsforpartners• Customisedconsultancyagreements• Businesspartneringsolutionsincludingprovidingoutsourceservicessuchas

provisionandmanagementofoffshorepersonnel,whitelabelledSMSFadministration,accountingandaudit,paraplanning,etc.

2.3.2 Howweraisemoney2.3.2.1 FundstodateThefoundersofLightYearGrouphavebeenworkingonbringingtheirideastomarketforoverthreeyears.Theyhaveinvestedasignificantamountoftheirowntime,knowledge,skillsandpersonalwealthtogetitstartedandwhereitistoday.GrantAbbottcontributedover$500,000duringthisdevelopmentphase.

InFebruary2019,LightYearGroupraisedapproximately$450,000incapitalfrom16investors(foundationinvestors).WeusedthismoneytocontinuetodevelopourproductsandplatformsandcommencethemarketingandsoftlaunchofourLightYearDocsdocumentplatform.

2.3.2.2 Thecrowd-sourcedfundingcampaignOuraimistoraiseupto$450,000fromupto150investorstopartnerwithustoscaleandbuildthebusiness.

Asaninvestoryoucannominatetoinvestfrom$3,000,whichgivesyou2,000sharesforevery$3,000investmentinLightYearGroup.


Wewouldlovetoseethisselloutinashortperiodoftime.Itisimportanttonotethatifwedonotraisetheminimum$300,000,thecrowd-sourcedfundingcampaignwillbedeemedunsuccessfulandyourinvestmentwillberefunded.Thisisthereasonwhyweaskforyourbankaccountdetailswhenyoupayforyourshares,toensurewecanrefundyouiftheaboveoutcomeoccurs.

2.3.3 InvestorBenefits

AsaninvestorinLightYearGroupyoubenefitfromourbusinessmodelthrough:

ü Futurereturnsoninvestmentthroughpotentialdividendspaidtoshareholders.ThisisnotguaranteedasitdependsonthefutureprofitabilityofthecompanyandtheboarddecidingtopayadividendalthoughitistheintentoftheBoardtopay50%ofnetprofitsasdividendsonaregularbasis

ü Possiblecapitalgrowthintheinvestmentsovertime;

ü RegularupdatesonourprogressinbecomingtheleadingproviderofstrategyasaservicetotheAustralianmarket;

ü Investordiscountsonthefollowingpackages:

IMPORTANTNOTEFORINVESTORS

ForanyinvestorinthisLightYearGroupCrowdfundingthatinvests$3,000ormoreweareabletooffer:

1. TheUnlimitedDocumentandStrategypackagefor$495permonthforthenexttwoyears

2. TheLYStrategistpackageoftrainingandunlimiteddocumentsfor$695permonthforthenexttwoyears

CompetitorAnalysis

Ourpricingissignificantlylowerthanourcompetitorseventhoughourdocuments,inoureyesatleast,arefresher,morestrategicandofferalotmoreoptionssuchastheLeadingMember™estateplanningprotectionsuiteofdocuments.ToseeacomparisonofLightYearDocsversusthetopon-linedocumentproviderspleasecontactusatsupport@lightyearadocs.com.auforacomparisonlistingtoseethepricingdifferences.


2.3.4 Whatdoesourorganisationlooklike?CorporateStructure

LightYearGroupPtyLtd

ACN631302817ABN92631302817

ILoveSMSFPtyLtd

ACN615266174ABN25615266174

LightYearDocsPtyLtd

ACN622171368ABN15622171368

100%

100%

LightYearDocs.com.au of 34 ILoveSMSF.com

OrganisationalStructure


2.3.5 LegalordisciplinaryactionsagainsttheCompany

In2019ILoveSMSFwasservedwithatrademarkclaimthatitsuseontheterm“Bloodline”breachedthetrademarkofalegalfirmthathadtrademarkedthattermintermsoftheprovisionoflegalservicesanddocuments.ILoveSMSFvigorouslydefendedthisclaimasitprovidesonlyeducationservicesbutenteredintoanagreementnottousethetrademarkBloodlineasanidentifierofanylegaldocumentsproducedbyLightYearDocsPtyLtd.Otherthanthis,therearenoandhavenotbeenanylegalordisciplinaryactionsagainsttheLightYearGroupofcompaniesnorhasGrantAbbottbeenashareholderinacompanythathasfacedlegalordisciplinaryactions.

AsaconsequenceofthisactionLYhasensuredthatallitskeytermshavebeentrademarkedandcopyrighted.


2.4 Capitalstructure2.4.1 IssuedcapitalLightYearGroupPtyLtdhas2,280,000ordinarysharesissuedasatthedateofthisofferdocumentandtherearenootherclassesofshares,oroptionsonissue.

IssuedcapitalofLightYearGroupPtyLtdPre-Offer

Shareholder Sharetype Shares Options

Directors&ExecutiveShareholders

GrantAbbott1–heldindirectlybyarelatedentity

Ordinary

1,687,000 -

MichaelJeffriess2–heldindirectlybyarelatedentity

Ordinary 50,000 -

AshleighJaremyn Ordinary 25,000 -

OtherShareholders

Othershareholders Ordinary 518,000 -

Total Ordinary 2,280,000 -1heldindirectlybyarelatedentity2heldindirectlybyarelatedentity


IssuedcapitalofLightYearGroupPtyLtdfollowingtheOffer

Shares MinimumSubscription MaximumSubscription

ExistingShares 2,228,000(91%) 2,228,000(87%)

Offershares 200,000(9%) 300,000(13%)

Totalsharesonissue(undilutedbasis)

2,480,000(100%) 2,580,000(100%)

ShareholdingRights

AllissuedsharecapitalintheLightYearGroupareordinarysharesthathavefullvotingrightsanddividendparticipation.

DividendPolicy

ItistheCompany’sgoaltopaydividendsatleasttwiceayear.Theboardwilldetermineattheendofeachfinancialperiodanappropriatetotalamountofordinarydividendpershare.Thiswillconsidertheresultsforthefinancialyear,theboard’sviewofthelong-termgrowthprospectsofthebusinessandtheCompany’sobjectiveofmaintainingastrongbalancesheet.Theintentionisthatthebalancebetweentheinterimandfinaldividendisweightedtothefinaldividend.Theboardexpectstotalcashreturnstoshareholdersoverthelongertermtobeupto50%ofunderlyingearningsaftertax.

Theboardiscommittedtomaintaininganappropriatebalancebetweencashreturnstoshareholdersandinvestmentinthebusiness,withtheintentionofmaximisingshareholdervalue.

2.4.2 Debtfundingandothersourcesoffunding

DebtFinancing

TheCompanyhasnoloansoutstandingasatthedateofthisOfferDocument.


2.5 Directorsandseniormanagers2.5.1 OurdirectorsandmanagementGrant–Director,CEOandChairman

GrantAbbottisthekeypresenterforLightYearGroup,incorporatingILoveSMSF,LightYearDocs&SMSFTrainingGroup.GranthasaMastersofLawspecialisingintaxandsuperannuationlaw.Hehasbeenattheforefrontofself-managedsuperfundthinkingsince1994,andmostrecentlyhasledanationwidemovementto“Grow,ProtectandPreserve”self-managedsuperandtherightsandentitlementsofself-fundedretireesacrossAustralia.

GrantAbbott’snotableachievementsintheSMSFindustryinclude:

• BuilderoftwoprevioussuccessfulSMSFtraining,compliance,adviceanddocumentationbusinesses;

• Developmentoftheleadingtrainingcourseforadvisersprovidingadviceinself-managedsuperfundswithmorethan1,000havingbecomeSMSFspecialistsandRG146compliant;

• WritingonsuperfundissuesonbehalfofmanymajorfinancialservicespublicationsincludingtheSMSFmagazine,MoneyManagementandbeingregularlyquotedintheAustralianFinancialReview;

• PublishingaspecialistSMSFjournalwithmorethan100editions;

• Writingthe–“GuidetoSelf-ManagedSuperFunds”forCCH.Thebooknowinitsthirdeditionhasbecomeabestsellerandprovidestechnicalandpracticaltipsonestablishing,buildingandmanagingaself-managedsuperfund.CCHhasalsopublishedthe“SMSFStrategyGuide”writtenbyGrant;

• MakingnumeroussubmissionstoTreasuryandGovernmentonvariousSMSFissues;

• ThefinancialfounderoftheSMSFAssociation;

• TheChairmanoftheformerSMSFMembersAssociation;

• Providingadvice,technicalsupportandproductdevelopmentforallthemajorbanks–bothinAustraliaandoverseasaswellasthemajorfinancialplanningandaccountingorganisations;

• Preparingself-managedsuperfundprofessionalstandardsincommitteein2004forthefinancialservicesindustry;

• Presentingonmorethan2,000occasionstomorethan100,000SMSFTrusteesandhaslaunchedhisfifthbook–“TheGuru’sGuidetoSMSFs”tocriticalacclaim.


AshleighJaremyn-Director

Ashleighhasextensiveknowledgeinthefinancialservicesmarket,includingSelf-ManagedSuperannuationFunds(SMSF),InvestmentAdvice,WealthCreation,Retirement

Planning,PersonalandBusinessInsurances,andEstatePlanningstrategies.

AshleighhasahighlevelofSMSFtechnicalknowledgeandisExecutiveDirectorofLightYearGroup,incorporatingLightYearDocs,ILoveSMSFandSMSFTrainingGroup.Ashleighworksalongsidethebestofthebestintheindustryandisdedicatedtobuildingscalable,profitable,technicallysavvyanddigitallybasedbusinesses.

AshleighhaspreviouslyheldthepositionofHeadofTechnicalServicesatanon-alignedAFSLandvarioustechnicalandmanagementroleswithotherfinancialservicesbusinessesinSAandQLD.AshleighalsorunsherownparaplanningbusinessforhighlystrategicSMSFadvisersandiscurrentlyappointedasbothPartySecretaryandPartyExecutivefortheFederalpoliticalparty,TheSMSF&Self-FundedRetireesParty.

MichaelJeffriess-Director

MichaelischarteredaccountantwithabroadrangeofexperienceinrolessuchasChiefFinancialOfficer,OperationsandProjectsExecutive,ExecutiveDirector,and

asanInvestmentandComplianceCommitteememberacrossanumberofbothASXlistedandprivatelyheldGroupspredominantlywithinthefinancialservicesindustry.MichaelhadaprimaryinvolvementinthelistingofHFAHoldingsLimited,totheASXin2006,andhasbeenaleadonseveralothercapitalraisings.

Afterspendingmorethan17yearswithvariouscompaniesMichaelunderstandsthekeydriversforbusinesseshavingdevelopedandsuccessfullyimplementedstrategicplansanddirections,budgetingprocesses,operationalproceduresandactiverolesinproductdevelopment.Hehasheldresponsibilitiesandmanagementoverbusinessdivisionsincludingcorporateaccounting,operations,humanresources,IT,treasury,AFSL/ACLcomplianceandadministration.Michaelhasgreatsuccessintheoffshoringofvariousbusinessunitsthathaveproducedproductivityimprovementsaswellascostreductions.

MichaelholdsaBachelorofCommerce&JurisprudencefromBondUniversity,aDiplomaofFinancialServicesandisaGraduateMemberoftheInstituteofCompanyDirectors.


TonyAnamourlis–Non-ExecutiveDirectorandLegalCounsel

TonyobtainedhisLawdegreefromtheUniversityofNewEnglandandtheCollegeofLawrespectivelyandalsoholdsaMasterofLaws.HewasadmittedtopracticeintheNewSouthWalesSupremeCourtandsubsequentlyadmittedinVictoria,Queensland,WesternAustraliaandintheNewZealandHighCourt.FollowingcompletionofhisArticleswithaVictorianLawfirm,heundertookvariousadvancedlecturingrolesintheareasofcommerciallawandtaxlawatbothundergraduateandpostgraduatelevel.Hehasalsopresentedatleadingdomesticandinternationaltaxconferences.

TonywasaformertaxlecturerinchargeandchiefexaminerofthetaxunitatMasterslevelatLatrobeUniversity.Inaddition,TonyisalsocurrentlyundertakingresearchonGlobalisingTaxInformationExchangeAgreementsbetweenTaxHavensandNon-TaxHavensandcontinuestoresearchandwriteincurrentcommercial,internationalanddomestictaxissues.

Aspartofhisresearch,complementinghistaxandcommercialpracticeforlast18years,Tony’smainfocusisoncommercialandtaxwhereheprovidesrealisticadvicewithcommercialoutcomes.Tony’sresearchandpracticeinterestsincludesbutnotlimitedtoareasofdomestictax,structuredbusinessadvice,TaxCompliance,TaxAffectAccounting,TransferPricing,CapitalGainsTax,Trusts,TaxAdministration,TaxLitigation,GeneralCommercialmatters,Reconstructions,CorporateInsolvencyandCorporateGovernance.

Priortoengaginginlegalpracticeandacademia,TonywasemployedasataxandcompliancemanagerandwasemployedtovariousCPAandCharteredAccountingfirms,dealingwithvariouscomplextaxandcomplianceissues


2.5.2 LegalordisciplinaryactionsTheDirectorsandManagersofthebusinessesoftheLightYearGrouphavenolegalordisciplinaryactionsagainstthemnorprioractionsorpenaltiesleviedonthempersonally,includingbankruptcy.

Federalpoliceandbankruptcychecksareheldbythecompanyfordirectorsandmanagers.

2.6 RisksfacingthebusinessBusinessriskcanbedescribedastheeffecttoacompanyfromtheexposuretofactorsthatmaycauseuncertaintyonacompany’sobjectives.Thisriskoruncertaintymayresultinapositiveornegativeoutcome.

BelowisadescriptionofthemainrisksfacingLightYearGroupPtyLtd.Onlytherisksthatmaysignificantlyimpactthesuccessorfailureofthebusinesshavebeenincluded.

TypeofRisk DescriptionofRisk MitigationoftheRisk

PeopleRisk KeyPersons

LightYearGrouphasanumberofkeypeople,includingthefounders,thatareimportanttothesuccessofthebusiness.Ifthesekeypeoplearetoleave,theywouldneedtobereplacedinordertoachievethebusiness’sobjectives.

ConductRisk

Wheneverpeopleareintroducedintoabusiness,thereisthepotentialthatpeoplewillnotfollowallpoliciesandprocedures.

KeyPersons

ThefoundersareownersinLightYearGroupandhavespentover3yearsplanningandbuildingtheGroup.Theyarededicatedandalignedtothesuccess.GrantAbbottisthemajorshareholderandAshleighJaremynisunderanemploymentagreement.

TheBoardhasalsodiscussedandwillimplementappropriatesuccessionplansandriskmitigationstrategiesinrelationtokeypeople.Thefoundershavebroughtonotherkeypersonssuchas


MichaelJeffriesstosupportinrelationtotechnical,productoperation,strategicandothermatters.

GrowingtheBusiness LightYearGrouphasonlybeeninoperationforashortperiodoftime.

LightYearGroupisnotyetprofitable.

ThesuccessoftheLightYearGroupwilldependonanumberoffactors,includingtheabilitytogrowtheactiveuserandmembershipbase,anditsabilitytocontinuetodeliverproductandtrainingsolutions.

GrantAbbotthassuccessfullybuiltandsoldsimilarbusinesses.LightYearGrouphasalsobuiltupastrongandverylargedatabaseofadvisorsforitspipeline.Thisdatabasehascomeaboutfromyearsofwork.Thereisriskinnotconvertingleads,however,thekeypersonswithinthebusinesshavecombinedexperienceof65plusyearsandbelievetheyshouldbesuccessful.

ThekeypersonshaveallbeeninvolvedwithbusinessingrowthstagesandhavethenecessaryexperiencetogrowLightYearGroup.

FundingRisk IfLightYearGroupdoesnotmeetthetargetsithassetitmayimpactitsabilitytoachievepositivecashflowsintheforecasttimeline.

TheminimumsubscriptionunderthiscrowdfundingofferwillassistLightYearGroupinmakingfurtherdevelopmentstoitsplatformandproductsuchasAPI’swithpartners.LightYearGroupisnotrelianthoweveronthisfunding.Itwouldsimplydelaytheseprojects.

LightYearGroupbelievesitshouldhititstargeted


numberofactiveuserstodeliverpositivecashflowtotheGroupandinturnreturnstoitsshareholders.Theonlyimpactonthismaybetiming.

CompetitionRisk LightYearGrouphaslaunchedintoacompetitivemarket.Competitionriskoccurswheneverthereareotherbusinessestryingtogainorretainmarketshare.

IfLightYearGroupisunabletoacquireandgrowitsactiveuserandmembershipbase,itwillnotachieveitsstrategicbusinessobjectives.

LightYearGroupisaimingtodisruptthemarketthroughitsapproachusingstrategy,scale,efficiency,continualimprovement,complianceproductandservices.

TheLightYearGroupplatformenablesittodeliverandadaptitsproductinmostcasesinlessthanoneday.Thisissomethingthecompetitioncannotcurrentlydo.

Thecompetitionhasfocussedonbeingtechfactoriesratherthantheprovidingtheadvisorymarketwithproductsandservicestonotonlymeettheirclientsneedsbutbethebestqualitydeliveredinthemostefficientmannerusingtechnology.

LegalRisk LightYearGroupdeliverslegal,business,andcompliancedocumentsandtrainingtoitsusers.

Legalriskistheriskoffinancialorreputationallossthatcanresultfrom


lackofawarenessormisunderstandingof,ambiguityin,orrecklessindifferenceto,thewaylawandregulationapplytoyourbusiness,itsrelationships,processes,productsandservices.

TechnologyRisk LightYearGrouprelievesheavilyontechnologytodeliveritsproductstomarket.

Technologyriskisanypotentialfortechnologyfailurestodisruptyourbusinesssuchasinformationsecurityincidentsorserviceoutages.


2.7 FinancialinformationBelowarethefinancialstatementsforthe11monthsto31May2019.ThefinancialstatementsarepreparedonthebasisthattheGroupwasformedandconsolidatedeffective1July2018andtheyhavebeenpreparedinaccordancewiththeAustralianAccountingStandards.

BalanceSheetLightYearGroupPtyLtdanditscontrolledentitiesAsat31May2019

$

Assets

CurrentAssets CashandCashEquivalents 50,979Debtors 1,731GST 15,149OtherCurrentAssets 22,024

TotalCurrentAssets 89,883

Non-CurrentAssets LightYearDocsPlatform 213,951ILoveSMSFPlatform 16,996Plant&Equipment 5,472

TotalNon-CurrentAssets 236,419TotalAssets 326,302

Liabilities

CurrentLiabilities AccountsPayable 48,818PayrollLiablities 7,843EmployeeEntitlements 2,079OtherCurrentLiabilities 2,167

TotalCurrentLiabilities 60,907TotalLiabilities 60,907NetAssets 265,395

EquityCurrentYearEarnings (505,783)OrdinaryShares 771,178

TotalEquity 265,395


ProfitandLossStatement

LightYearGroupPtyLtdanditscontrolledentitiesForthe11monthsended31May2019

$

ProfitandLoss

MembershipFees 56,111DocumentSales 9,040TrainingWorkshops 72,400Books&Sponsorship 5,003InterestIncome 180OtherRevenue 3,636

TotalRevenue 146,370

CostofSales 54,851GrossProfit 91,519

LessOperatingExpenses EmployeeCosts 153,193ProfessionalFees 209,659OccupancyCosts 20,675MarketingCosts 74,961TechnologyCosts 38,663AdministrationCosts 100,150

TotalOperatingExpenses 597,301

NetProfitor(Loss) (505,782)


CashflowStatement

LightYearGroupPtyLtdanditscontrolledentitiesForthe11monthsended31May2019

$

CashSummary

Revenue 159,078Interest 180

TotalRevenue 159,258

Less:OperatingExpenses


OperatingSurplus/(Deficit) (461,600)

Less:AcquisitionofFixedAssets (236,419)Less:Loans (1,180)Plus:MovementsinEquity 750,178


NetCashMovement 50,979

Summary OpeningBalance -Plus:NetCashMovement 50,979ClosingBalance 50,979


Forecasts

The summary profit and loss forecasts for LightYear Group and its controlled entities are asfollows:

$ $ $

FY2020 FY2021 FY2022Revenue 840,426 2,358,184 3,845,036OperatingExpenses (1,008,147) (1,074,561) (1,071,184)EBITDA (167,721) 1,283,623 2,773,852Profit/(Loss)AfterTax (85,000) 951,365 2,014,655

Thedirectorsbelieve that these forecastsareconservative,however theyshouldnotberelieduponindecidingwhethertoinvestintheGroup.Toachievetheaboveforecasts,oursalestargetswillneedtobeachieved.

Assumptions:

• IncreaseinLYDmembers:65%FY2020,40%FY2021,5%FY2022• OPEXincrease5%annually.Currentcoststructuremaintained• Nosignificantincreasetoheadcount

2.7.1 ValuationThedirectors(pre-crowd-sourcedfunding)valuedthebusinessat$3,450,000or$1.50pershare.Thishasbeenbasedonadiscountcashflowvaluation,capitalinvestmentsandcomparisontocompetitors.WebelievethereisupsideopportunityforinvestorsshouldtheGroupmeetitsconservativeforecasts.

$1.50

$3.36 $4.86

Market Value Upside Intrinsic Value $0.00

$1.00

$2.00

$3.00

$4.00

$5.00

$6.00

Market Value vs Intrinsic Value


Section3:

InformationabouttheOffer


ThekeytermsandconditionsoftheOfferaresetoutinthetablebelow.

ToparticipateintheOffer,youmustsubmitacompletedapplicationformtogetherwiththeapplicationmoneyviatheIntermediary’splatform.TheIntermediary’swebsiteprovidesinstructionsonhowtoapplyforsharesundertheOffer.

TheIntermediarymustclosetheOfferearlyincertaincircumstances.Forexample,iftheMaximumSubscriptionisreached,theOffermustbeclosed.IftheMinimumSubscriptionisnotreachedortheOfferisclosedbutnotcompleted,youwillberefundedyourapplicationmoney.

3.1 TermsoftheOffer

Term Details

Shares Fullypaidordinaryshares

Price $1.50pershare

MinimuminvestmentAmountperinvestor $3,000

MinimumSubscription $300,000

MaximumSubscription $450,000

Openingdate 16July2019

Closingdate 29August2019

Rightsassociatedwithsharesarecoveredinthenextsection.

InvestorsmaywithdrawtheirapplicationduringtheCooling-offPeriod.Furtherinformationoninvestorcooling-offrightscanbefoundinSection4ofthisCSFofferdocument.

LightYearGroupisofferingupto300,000sharesatanissuepriceof$1.50persharetoraiseupto$450,000.


Werecommendinvestorsseekindependentadvicebeforeapplyingincludingfinancialandtaxadvice.

TheOfferisnotunderwrittenandthereisnoguaranteethatthesefundswillberaised.

3.2 Rightsassociatedwiththeshares

AllsharesthathavebeenissuedpriortotheOfferareordinaryshares.AllsharestobeinaccordancewiththeOfferwillbeordinaryshares.

Immediatelyafterissue,theshareswillbefully-paidshares.Therewillbenoliabilityonthepartofshareholdersandtheshareswillrankequallywiththeotherordinarysharescurrentlyonissue.

TherightsassociatedwiththesharesaresetoutinLightYearGroup’sCompanyConstitution.Asummaryoftheserightsissetoutbelow.AcopyoftheconstitutionisattachedintheAnnexuretothisofferdocumentandisavailableontheintermediary’splatform.

Themainrightsattachedtoordinaryshareholdersincludes:

1. ToreceivenoticeofandtoattendanygeneralmeetingofLightYearGroup.2. TovoteatanygeneralmeetingofLightYearGroup,onthebasisofonevoteforeach

shareheld.3. Toreceivedividends(iftheyarepaid).4. Toparticipateequallyinthedistributionofthecapitalandsurplusassetsof

LightYearGroup(beinganyassetsleftoverafteralldebtshavebeenpaid)inawindinguporreductionofcapitalofLightYearGroup.


3.3 UseoffundsThetablebelowsetsouttheintendeduseoffundsraisedunderthisOfferbasedontheminimumandmaximumsubscriptionamounts.

Table:UseofFunds

Intendeduse Year1:MinimumSubscription

Year1:MaximumSubscription

Marketing $75,000 $75,000

PlatformDevelopment $100,000 $175,000

IT $25,000 $25,000

Workingcapital $100,000 $125,000

Totalfunds $300,000 $450,000

ThecostsoftheOfferincludetheIntermediary’sfeesunderthehostingagreementbetweentheCompanyandtheIntermediary.Thesefeesare$Nil.

3.4 DetailsofpreviousCSFoffersThisistheLightYearGroup’sfirstcrowd-sourcedfundingoffer.


3.5 EarlyStageInnovationCompany(ESIC)

LYexpectstomeettheobjective100-pointconditionsforbeinganESICwhichmaypotentiallyprovideinvestorswitha20%taxoffsetandnocapitalgainstaxondisposalsoftheissuedsharesuptoaperiodof10years,providedtheyareheldforaperiodofoneyear.

However,investorsshouldnotrelyonESICstatusasthishasnotyetbeenfinalisedanditcannotbeguaranteed.

3.6 InvestorRewardsForanyinvestorinthisLightYearGroupcrowdfundingthatinvests$3,000ormoreweoffer:

1. TheUnlimitedDocumentandStrategypackagefor$495permonthforthenexttwoyears–asavingof$100permonth.

2. TheSuperStrategistpackageoftrainingandunlimiteddocumentsfor$695permonthforthenexttwoyears–asavingof$100permonth.


Section4:

InformationabouttheInvestorRights


4.1 Cooling-offrightsYouhavetherighttowithdrawyourapplicationunderthisOfferandtoberepaidyourapplicationmoney.Ifyouwishtowithdrawyourapplicationforanyreason(includingifyouchangeyourmindaboutinvestingintheCompany),youmustdosowithinfivebusinessdaysofmakingyourapplication(theCooling-offPeriod).

YoumustwithdrawyourapplicationviatheIntermediary’splatformasfollows:

Afteryourwithdrawalhasbeenprocessed,theIntermediarywillrefundtheapplicationmoneytoyournominatedaccountassoonaspracticable.

4.2 CommunicationfacilityfortheOffer

YoucanaskquestionsabouttheOfferonthecommunicationfacilityavailableontheIntermediary’splatform.Youcanalsousethecommunicationfacilitytocommunicatewithotherinvestors,withtheCompanyandwiththeIntermediaryaboutthisOffer.

YouwillbeabletopostcommentsandquestionsabouttheOfferandseethepostsofotherinvestorsonthecommunicationfacility.TheCompanyand/ortheIntermediarywillalsobeabletorespondtoquestionsandcommentspostedbyinvestors.

Officers,employeesoragentsoftheCompany,andrelatedpartiesorassociatesoftheCompanyortheIntermediary,mayparticipateinthefacilityandmustclearlydisclosetheirrelationshiptotheCompanyand/orIntermediarywhenmakingpostsonthefacility.

AnycommentsmadeingoodfaithonthecommunicationfacilityarenotsubjecttotheadvertisingrestrictionsintheCorporationsAct.


4.3 Proprietarycompanycorporategovernanceobligations

4.3.1 AnnualreportWhiletheCompanyiscurrentlyasmallproprietarycompanythatisnotrequiredtoprepareannualfinancialreportsanddirectors’reports,ifwesuccessfullycompletethisOffer,thenwewillberequiredtoprepareandlodgetheseannualreportswithASIC(withinfourmonthsofthefinancialyearend).TheCompanyhasa30Juneyearendanditsfinancialreportsmustbelodgedby31Octobereachyear.

Ourfinancialreportsarecurrentlynotrequiredtobeauditedasweareasmallproprietarycompany.ThismeansthattheCompany’sfinancialreportswillnotbesubjecttoauditoroversight,and,therefore,therewillbenoindependentassuranceoftheCompany’sfinancialstatements.However,thedirectorsarestillrequiredtoensurethatthefinancialstatementsgiveatrueandfairviewoftheCompany’sfinancialpositionandperformance,andthatthefinancialstatementscomplywiththeaccountingstandards.

Wemayberequiredtohaveourfinancialreportsauditedinthefutureifweraisemorethan$3millionfromCSFoffers(includingthiscurrentofferandanyfutureoffers),or,otherwise,becomealargeproprietarycompany.

4.3.2 DistributionofannualreportTheCompanyisnotrequiredtonotifyshareholdersinwritingoftheoptionstoreceiveoraccesstheannualreport.Shareholderswillnotbeabletoelecttoreceiveacopyoftheannualreportbywayofemailorpost.However,shareholderscanaccesstheannualreportontheCompany’swebsiteatthefollowingaddress[insertlinktowebsite](freeofcharge)orcanpurchasethereportfromASIC.


4.3.3 AnnualreportTheCompanyisrequiredtoprepareannualfinancialreportsanddirectors’reportsattheendofeachfinancialyearandlodgethesewithASIC(withinfourmonthsofthefinancialyearend).TheCompanyhasa30Juneyearendanditsfinancialreportsmustbelodgedby31Octobereachyear.

ShareholderscanelecttoreceivetheCompany’sannualreportsinhardcopyorelectroniccopyfreeofcharge,orbyaccessingthemontheCompany’swebsite.

4.3.4 RelatedpartytransactionsIfwesuccessfullycompletethisOffer,therulesonrelatedpartytransactionsinChapter2EoftheCorporationsActwillapplytotheCompany(forsolongaswecontinuetohaveCSFshareholders).ThismeansthattheCompanyisrequiredtoobtainshareholderapprovalbeforegivingfinancialbenefitstorelatedpartiesofthecompany(e.g.directorsandtheirspouses,childrenorparents),subjecttocertainexceptions(suchasreasonableremunerationprovidedtodirectors).

4.3.5 TakeoversIfwesuccessfullycompletethisOfferandhavemorethan50shareholders,thetakeoverrulesintheCorporationsActwillonlyapplytotheCompanyinaverylimitedway.Ifsomeonewantstobuymorethan20%ofthevotingsharesintheCompany,theywillbeabletodosowithoutcomplyingwiththetakeoverrules.ThismeansthatapersonmaybeabletogetcontroloftheCompanywithoutmakingaformaltakeoverbidtoallshareholdersorwithoutseekingshareholderapproval.

Shareholderswillnothavethebenefitofthefullprotectionsunderthetakeoverrules,whichmeansyoumaynothavetherighttovoteonorparticipateinachangeofcontrolofthecompany.However,thegeneralprinciplesofensuringshareholdershavesufficientinformationandtimetoconsiderachangeofcontrol,andallhaveareasonableandequalopportunitytoparticipateinanybenefits,willapplytotheCompany.Inaddition,theTakeoversPanelhasjurisdictiontoheardisputesrelatingtocontroloftheCompany.


Glossary

Company meansLightYearGroupPtyLtdACN631302817 Cooling-offPeriod meanstheperiodendingfivebusinessdaysafter

anapplicationismadeunderthisOffer,duringwhichaninvestorhasarighttowithdrawtheirapplicationandberepaidtheirapplicationmoney

CSF meanscrowd-sourcedfundingunderPart6D.3A

oftheCorporationsAct Intermediary meansSMECrowdFunderPtyLtdAFSL512643 MaximumSubscription meanstheamountspecifiedinthisCSFoffer

documentasthemaximumamountsoughttoberaisedbytheOffer

MinimumSubscription meanstheamountspecifiedinthisCSFoffer

documentastheminimumamountsoughttoberaisedbytheOffer

Offer meansanofferoffully-paidordinarysharesby

theCompanyunderthisCSFofferdocument


Annexure

● CompanyConstitution

crowd-sourced funding offer document - fundsition · crowd-sourced funding offer document 16 july...

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