| Tue 1 Jun 2010, 7:06 | | GDO - Gold One - Appendix 3B - New issue announcement application for quotation |
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GDO
GDO
GDO - Gold One - Appendix 3B - New issue announcement, application for quotation
of additional securities and agreement
Gold One International Limited
(Previously BMA Gold Limited)
Registered in Western Australia under the Corporations Act, 2001
(Cth)(Registration number ACN: 094 265 746)
Registered as an external company in the Republic of South Africa (Registration
number: 2009/000032/10)
Share code on the ASX/JSE: GDO
ISIN: AU000000GDO5
OTCQX International: GLDZY
("Gold One" or the "company")
APPENDIX 3B - NEW ISSUE ANNOUNCEMENT, APPLICATION FOR QUOTATION OF ADDITIONAL
SECURITIES AND AGREEMENT
Gold One today, 1 June 2010, submitted to the Australian Securities Exchange
("ASX") an Appendix 3B "New issue announcement, application for quotation of
additional securities and agreement" in respect of the grant of 3,397,200 GDOAU
options to employees under the Gold One Share Incentive Scheme and 17,600,000
GDOAR options to Directors of the company as approved by shareholders on 19 May
2010.
Note: GDOAU and GDOAR refer to the different unlisted option classes of the
company as classified by the ASX
QUOTE
NAME OF ENTITY
Gold One International Limited
ABN
35 094 265 746
We (the entity) give ASX the following information
PART 1 - ALL ISSUES
1. Class of securities issued or to be issued
Unlisted share options (GDOAU)
Unlisted share options (GDOAR)
2. Number of securities issued or to be issued (if known) or maximum number
which may be issued
3,397,200 GDOAU
17,600,000 GDOAR
3. Principal terms of the securities (eg, if options, exercise price and expiry
date; if partly paid securities, the amount outstanding and due dates for
payment; if convertible securities, the conversion price and dates for
conversion)
GDOAU options exercisable at ZAR 1.79 expiring 20 May 2015
GDOAR options exercisable at AUD 0.27 expiring 20 May 2015
4. Do the securities rank equally in all respects from the date of allotment
with an existing +class of quoted securities?
Yes
If the additional securities do not rank equally, please state:
- the date from which they do
- the extent to which they participate for the next dividend, (in the case of a
trust, distribution) or interest payment
- the extent to which they do not rank equally, other than in relation to the
next dividend, distribution or interest payment
5. Issue price or consideration
Not Applicable
6. Purpose of the issue:
(If issued as consideration for the acquisition of assets, clearly identify
those assets)
Grant of unlisted GDOAU options to employees under the Gold One Share Incentive
Scheme
Grant of unlisted GDOAR options to Directors as approved by shareholders on 19
May 2010. The GDOAR options have been granted on the terms and conditions set
out in the Terms and Conditions of Directors` Options which follow as a schedule
to this Appendix.
7. Dates of entering securities into uncertificated holdings or despatch of
certificates
31 May 2010
8. Number and class of all securities quoted on ASX (including the securities in
clause 2 if applicable)
Number Class
805,894,985 Fully paid ordinary shares
6,561,956 Options to acquire fully paid ordinary shares
9. Number and class of all securities not quoted on ASX (including the
securities in clause 2 if applicable)
Number Class
80,142,181 Unlisted options
501 Convertible bonds
10. Dividend policy (in the case of a trust, distribution policy) on the
increased capital (interests)
Not Applicable
PART 2 BONUS ISSUE OR PRO RATA ISSUE
Questions 11 to 33 - Not Applicable
PART 3 - QUOTATION OF SECURITIES
34. Type of securities (tick one)
a. Securities described in part 1 (Yes)
b. All other securities (No)
Questions 35 to 42 - Not Applicable
QUOTATION AGREEMENT
1. Quotation of our additional securities is in ASX`s absolute discretion. ASX
may quote the securities on any conditions it decides.
2. We warrant the following to ASX.
- The issue of the +securities to be quoted complies with the law and is not for
an illegal purpose.
- There is no reason why those securities should not be granted quotation.
- An offer of the +securities for sale within 12 months after their issue will
not require disclosure under section 707(3) or section 1012C(6) of the
Corporations Act.
- Note: An entity may need to obtain appropriate warranties from subscribers for
the securities in order to be able to give this warranty
- Section 724 or section 1016E of the Corporations Act does not apply to any
applications received by us in relation to any securities to be quoted and that
no-one has any right to return any securities to be quoted under sections 737,
738 or 1016F of the Corporations Act at the time that we request that the
+securities be quoted.
- If we are a trust, we warrant that no person has the right to return the
securities to be quoted under section 1019B of the Corporations Act at the time
that we request that the securities be quoted.
3. We will indemnify ASX to the fullest extent permitted by law in respect of
any claim, action or expense arising from or connected with any breach of the
warranties in this agreement.
4. We give ASX the information and documents required by this form. If any
information or document not available now, will give it to ASX before quotation
of the securities begins. We acknowledge that ASX is relying on the information
and documents. We warrant that they are (will be) true and complete.
Signed 31 May 2010
Company Secretary (Australia): Kellie Pickering
Schedule
TERMS AND CONDITIONS OF DIRECTORS` OPTIONS
1. THE OPTIONS
1.1 Certificate
The Company must issue a certificate for the Options which will include a form
of notice for the exercise of some or all of the Options.
1.2 Notices of meeting
The Company must give the Holder of an Option notice of general meeting (and
financial reports required at those meetings).
1.3 No transfer
Each Option is personal to the Holder and is not transferable, transmissible,
assignable or chargeable, except in accordance with clause 5.1
1.4 Lapse
Each Option lapses:
(a) on exercise of the Option under clause 3.3;
(b) if the Option has not been exercised by the Expiry Time;
(c) if the Company becomes aware of circumstances which, in the reasonable
opinion of the Board indicate that the
Underlying Director has acted fraudulently, dishonestly or in a manner which is
in breach of his or her obligations to the
Company or any Associated Company and the Board (in its absolute discretion)
determines that the Option lapses;
(d) if the Company commences to be wound up; or
(e) if the Director ceases to hold the office of Director, or be engaged in any
other role which constitutes employment for the purposes of section 83A - 325 of
the Income Tax Assessment 1997 (Cth), with the Company prior to the Vesting Date
for the Option.
2. VESTING OF OPTIONS
2.1 Vesting
Options shall vest on the dates stipulated in the Option Certificates applicable
to the Options concerned.
3. EXERCISE OF OPTIONS
3.1 Exercise
The Holder may exercise an Option only:
(a) during an Exercise Period;
(b) during any of:
(i) each bid period before the Expiry Time; or
(ii) each Change in Control Period before the Expiry Time;
(c) by doing during that Exercise Period everything required by clause 3.3;
(b) by at the same time either:
(i) exercising all the Options which the Holder is then entitled to exercise; or
(ii) exercising a number of Options such that the Company will issue a minimum
number of Shares that the Company
has determined, or a multiple of that number; and
(c) if not prevented from doing so by clause 5.1.
3.2 Other Options
The exercise of an Option does not prevent the exercise of any other Option.
3.3 Manner of exercise
The Holder may exercise Options by forwarding to the registered office of the
Company:
(a) the certificate for those Options;
(b) the form of notice for the exercise of the Options completed and specifying
the number of Options exercised; and
(c) payment of the Exercise Price for each Option exercised, unless Financial
Assistance is granted by the Company in respect of the exercise of such Option.
3.4 Payment
Exercise of an Option is only effective when the Company receives full value for
the full amount of the Exercise Price in cleared funds or grants Financial
Assistance in respect of the exercise thereof.
3.5 Financial Assistance
The Company may agree in writing with the Holder to grant Financial Assistance
on terms determined by the Board in respect of the Exercise Price or any portion
thereof, to enable the Holder to exercise his or her Options to acquire Shares
in the Company either by way of the granting of a loan to enable the Holder to
pay the Exercise Price, or by way of a sale on extended terms of credit.
Accordingly, it is recognised that such debt, duty or obligation might
constitute a debt arising out of monies lent and advanced, or a debt arising out
of an obligation to pay the balance of the Exercise Price.
3.6 Pledge of the Shares
In terms of the Financial Assistance provided to the Holder for the Exercise
Price or any portion thereof, to enable the Holder to exercise his or her
Options to acquire Shares, such Shares may be required by the Company to be
pledged by the Holder to the Company and such Pledge shall be deemed to have
been effected upon and subject to the following terms and conditions:
(a) the Shares which shall be subject to the Pledge shall include all Shares of
the Holder in respect of which Financial Assistance has been given and remains
unpaid by the Holder;
(b) the Pledged Shares shall be Pledged as security for the due payment by the
Holder of the Exercise Price in respect of the Shares; and
(c) the Pledge shall include a cession and assignment by the Holder to the
Company of all the holder`s right, title and interest in and to all and any
dividends in respect of all Pledged Shares. Notwithstanding such cession, the
Beneficiary shall remain liable for the payment of all taxation in respect of
the dividends paid on the Pledged Shares concerned, if any, and the Company
shall, on the Holder`s behalf, appropriate such portion of the dividends may be
necessary for the payment of such taxation.
3.7 Interest
Should the Company decide to impose interest in regard to any amounts owing by
the Holder pursuant to any Financial Assistance, then the rate of interest shall
be in the Company`s discretion and may be varied annually in arrears, or
advance, but shall not at any time exceed prime rate lending from time to time
of the Company`s bankers as evidenced by the certificate of any of those
bankers, whose certificate shall be final and binding on the parties in the
absence of manifest error. Such interest shall also be debited monthly in
arrears and shall be payable together with the Exercise Price or portion
thereon, as the case may be.
3.8 Balance certificate
If the Participant exercises less than all of the Options in a certificate for
the Options, the Company must issue to the Holder a certificate for the
remaining Options.
4. ALLOTMENT AND RANKING OF SHARES
4.1 Allotment of shares
The Company must issue to the Holder the Shares to be issued on exercise of an
Option within five Business Days of the date on which the notice of exercise
took effect.
4.2 Statement of holding
The Company must forward to the Holder a statement of holding or certificate for
the Shares issued on exercise of an Option within five Business Days of their
issue.
4.3 Share allotted upon exercise of Option
The Share allotted and issued on exercise of an Option:
(a) is subject to the constitution of the Company; and
(b) ranks equally in every way (including for dividends for which entitlement is
determined after the allotment) with those then issued Shares whose holders are
entitled to participate in full in any dividend.
4.4 Quotation/Listing of Shares
When the Option is exercised, the Company must apply to ASX and JSE (as well as
any other stock exchange on which the Shares of the Company are quoted/listed)
for, and will use its best endeavours to obtain, quotation/listing for the
Shares to be issued to the Holder on exercise of the Option.
5. TERMINATION OF EMPLOYMENT OF UNDERLYING DIRECTOR
5.1 Termination of Employment of Holder
If the Underlying Director ceases to be a Director for any reason whatsoever,
the Holder or the Holder`s Personal Representative can exercise an Option, but
only:
(a) if the Vesting Date for that Option had arrived as at the date of the
Underlying Director ceasing to be a Director;
(b) with the written approval of the Board (which it may give or withhold in its
absolute discretion);
(c) within a period of 120 days after the date of the Underlying Director
ceasing to be a Director; and
(d) otherwise in accordance with clause 3.
5.2 Board may consider relevant matters
In making a decision whether to grant approval under clause 5.1(b), the Board
may consider any relevant matter, but need not disclose reasons for its
decision. For example, the Board may consider:
(a) whether the Underlying Director ceased to be a Director by reason of
retirement, ill-health, accident or redundancy;
or
(b) whether the Underlying Director ceased to be a Director by reason of
dishonest, fraudulent or grossly negligent or wilful conduct (whether proved,
suspected or otherwise) or by voluntary resignation.
5.3 No additional rights
A Holder, a Holder`s Personal Representative and an Underlying Director do not
have any additional rights:
(a) to compensation or damages as a result of the termination of appointment or
employment; or
(b) in respect of an Option following exercise in accordance with clause 5.1.
6. ADJUSTMENT
6.1 Participation in new issues
Except in respect of any Shares already held by the Holder, the Holder of an
Option may not participate in new issues of Shares unless the Holder exercises
that Option and becomes the Holder of Shares prior to the record date for the
new issue of Shares.
6.2 Rights/entitlements issues
If after the Vesting Date but before the Expiry Time, the Company makes a pro
rata offer or invitation to holders of Shares or securities of the Company or
any other entity, the Company must give the Holder notice not less than 9
Business Days before the Record Date to determine entitlements to receive that
offer or invitation to enable the Holder to exercise the Option (if capable of
exercise) and receive that offer or invitation in respect of the Shares allotted
on exercise of the Option.
6.3 Pro rata issues
If before the Expiry Time the Company gives holders of Shares the right (pro
rata with existing shareholdings) to subscribe for additional securities and the
Option is not exercised as contemplated by clause 6.2, the Exercise Price of an
Option after the issue of those securities may be reduced in accordance with the
formula set out in Schedule 1.
6.4 Pro rata bonus issues
If before the Expiry Time the Company makes a pro rata bonus issue to holders of
Shares and an Option is not exercised before the Record Date to determine
entitlements to that bonus issue, the number of securities to be issued on
exercise of the Option is the number of Shares before that bonus issue plus the
number of securities which would have been issued to the Holder if the Option
had been exercised before that Record Date.
6.5 Subdivision or consolidation
If before the Expiry Time the Company subdivides or consolidates its Shares, the
Options must be subdivided or consolidated (as the case may be) in the same
ratio as the Shares and the Exercise Price must be amended in inverse proportion
to that ratio.
6.6 Return of capital
If before the Expiry Time the Company makes a return of capital, the number of
Options remains the same, and the Exercise Price of each Option is reduced by
the same amount as the amount returned in relation to each Share.
6.7 Cancellation of capital that is lost
If before the Expiry Time the Company makes a cancellation of any paid up share
capital that is lost or not represented by available assets, the number of
Options and the Exercise Price of each Option is unaltered.
6.8 Pro rata cancellation of capital
If before the Expiry Time the Company reduces its issued share capital on a pro
rata basis, the number of Options must be reduced in the same ratio as the
Shares and the Exercise Price of each Option must be amended in inverse
proportion to that ratio.
6.9 General reorganisation
If before the Expiry Time the Company reorganises its issued share capital in
any way not contemplated by this clause 6, the number of Options or the Exercise
Price, or both, must be reorganised so that the Holder will not receive a
benefit that holders of Shares do not receive.
6.10 Cumulative adjustments
Each adjustment under clauses 6.2 to 6.9 must be made for every unexercised
Option every time the relevant clause applies before the Expiry Time.
6.11 Rounding
Until an Option is to be exercised, all calculations adjusting the number of
Shares or the Exercise Price must be carried out to include all fractions, but
on exercise the number of Shares issued is rounded down to the next lower whole
number and the Exercise Price rounded up to the next higher cent.
6.12 Notice of adjustment
The Company must give notice to the Holder of any adjustment to the number,
description or items of security which are to be issued on exercise of an Option
or to the Exercise Price, and must do so in accordance with any applicable
Trading Rules. This notice may be in the form of a revised certificate for the
Option.
6.13 Trading Rules
An adjustment must not be made under this clause 6 unless it is consistent with
the Trading Rules. The Company may amend the terms of any Option, or the rights
of any Holder, to comply with the Trading Rules applying at the time to any re-
organisation of capital of the Company.
7. AMENDMENT OF OPTION TERMS
7.1 Consistency with Trading Rules
If the Company is admitted to either or both the Official List of ASX or a
member of CHESS or Strate, the following provisions (as appropriate) apply
(unless ASX, the ASTC or the JSE or Strate waives the relevant Trading Rule in
writing):
(a) Despite anything contained in these terms, if the Trading Rules prohibit an
act being done, the act must not be done.
(b) Nothing in these terms prevents an act being done that the Trading Rules
require to be done.
(c) If the Trading Rules require an act to be done or not to be done, authority
is given for that act to be done or not to be done (as the case may be).
(d) If the Trading Rules require these terms to contain a provision and they do
not contain such a provision, these terms are taken to contain that provision.
(e) If the Trading Rules require these terms to contain a provision and they
contain such a provision, these terms are taken not to contain that provision.
(f) If any provision of these terms is or becomes inconsistent with the Trading
Rules, these terms are taken not to contain that provision to the extent of the
inconsistency.
7.2 Hardship
Subject to clause 7.3, the Board may if it reasonably forms the opinion that the
operation of these terms is or may be unfair, harsh or unconscionable for any
Holder (or a Holder`s heirs) in the circumstances relating to that Holder,
alter, amend or vary these terms or their operation by notice in writing to the
affected Holder.
7.3 Trading Rules
Subject to clause 7.4, the Board must comply with any restrictions or procedural
requirements under the Trading Rules for amending the terms of issued options,
unless those restrictions or requirements are expressly or impliedly relaxed or
waived by ASX or JSE (as the case may be) or any of its delegates generally, or
in a particular case or class of cases.
7.4 Conflicts between Trading Rules
Notwithstanding anything else in these terms, if there is a conflict between the
restrictions or requirements under different Trading Rules, the Board may, in
its absolute discretion, determine the appropriate manner of dealing with that
conflict as it considers appropriate.
8. GENERAL
8.1 Governing law
(a) This Plan is governed by the law in force in New South Wales.
(b) The Company and each Holder submit to the non-exclusive jurisdiction of the
courts exercising jurisdiction in New South Wales, and any court that may hear
appeals from any of those courts, for any proceedings in connection with these
terms, and waive any right they might have to claim that those courts are an
inconvenient forum.
8.2 No interest in Shares
A Holder has no interest in a Share the subject of an Option unless and until
the Share is allotted to the Holder on exercise of the Option.
9. INTERPRETATION
9.1 Rules for interpreting this document
Headings are for convenience only, and do not affect interpretation. The
following rules also apply in interpreting this document, except where the
context makes it clear that a rule is not intended to apply.
(a) A reference to:
(i) legislation (including subordinate legislation) is to that legislation as
amended, re-enacted or replaced, and includes any subordinate legislation issued
under it;
(ii) a document (including this document) or agreement, or a provision of a
document (including this document) or agreement, is to that document, agreement
or provision as amended, supplemented, replaced or novated;
(iii) a party to this document or to any other document or agreement includes a
permitted substitute or a permitted assign of that party;
(iv) a person includes any type of entity or body of persons, whether or not it
is incorporated or has a separate legal identity, and any executor,
administrator or successor in law of the person; and
(v) anything (including a right, obligation or concept) includes each part of
it.
(b) A singular word includes the plural, and vice versa.
(c) A word which suggests one gender includes the other genders.
(d) If a word or phrase is defined, any other grammatical form of that word or
phrase has a corresponding meaning.
(e) If an example is given of anything (including a right, obligation or
concept), such as by saying it includes something else, the example does not
limit the scope of that thing.
(f) A reference to dollars or A$ is to Australian currency.
(g) A reference to ZAR is to South African currency.
(h) The words subsidiary, holding company, related body corporate, bid period
and voting power have the same meanings as in the Corporations Act.
9.2 Business Days
If the day on or by which a person must do something under this document is not
a Business Day:
(a) if the act involves a payment that is due on demand, the person must do it
on or by the next Business Day; and
(b) in any other case, the person must do it on or by the previous Business Day.
10. DICTIONARY
10.1 Definitions
The following definitions apply in this document:
Acceptance Date means, in respect of an Option, the date of grant of that
Option.
Associated Company means:
(a) any company that is a related body corporate of the Company;
(b) any company which has 20% or more of the voting power in the Company; or
(c) any company in which the Company has 20% or more of the voting power.
ASX means the Australian Securities Exchange or ASX Limited (ABN 98 008 624
691), as the context requires.
Board means the board of Directors of the Company.
Business Day means a "business day" under the Listing Rules.
Change in Control means:
(a) a person`s voting power in the Company increases from less than 30% to 30%
or more; or
(b) a person`s voting power in the Company decreases from 30% or more to less
than 30%; or
(c) the Board resolving that it considers that a person who previously had not
been in a position to do so, is in the position, directly or indirectly, and
either alone or with associates to remove one-half or more of the Directors.
Change in Control Period means, in relation to a Change in Control, the 20
Business Days after the day on which the Change in Control occurred, in which
event the Company shall notify all the Holders in writing of the Change in
Control.
CHESS means the Clearing House Electronic Subregister System operated by ASX
Settlement and Transfer Corporation Pty Limited, and includes any applicable
clearing and settlement facility that is a prescribed CS facility under the
Corporations Act.
Company means Gold One International Limited ABN 35 094 265 746.
30
Corporations Act means the Corporations Act 2001 (Cth) of Australia.
Director means a director of the Company.
Director Nominee has the meaning given to it by clause 1.3(b).
Expiry Time means the earlier of:
(a) 5.00pm Australian Eastern Standard time on the Expiry Date;
(b) 5.00pm Australian Eastern Standard time on the 120th day after the date of
the Holder ceasing to be an Director; and
(c) where the Holder ceases to be a Director, the time of the Board notifying
the Holder that the Options are not able to be exercised under clause 5.1.
Expiry Date means, in respect of an Option, the date that is 5 years from the
Acceptance Date.
Exercise Period means the period from the Vesting Date up to the Expiry Time.
Exercise Price means, in respect of an Option, the amount specified as the
Exercise Price of that Option in its Option Certificate, or that sum as adjusted
under clause 6 of these terms.
Financial Assistance means financial assistance made available by the Company to
the Holder to enable the Holder to exercise his or her Options in accordance
with clause 3.5.
Holder means the holder of an Option.
JSE means JSE Limited (Registration No. 2005/022939/06), a public company
incorporated under the laws of South Africa, trading as a securities exchange at
Johannesburg, South Africa.
Listing Rules means the listing rules of ASX and the Listings Requirements of
the JSE as they apply to the Company from time to time.
Option means an option to subscribe for one Share at the Exercise Price (subject
to adjustment under clause 6).
Option Certificate means, for an Option, the certificate issued in respect of
that Option pursuant to clause 1.1.
Option Period means, for an Option, the period starting on the date on which the
Company grants the Option and ending at the Expiry Time.
Personal Representative means the legal personal representative of a Holder who:
(a) has died; or
(b) whose estate becomes liable to be dealt with under the laws relating to
mental health.
Pledge means the pledge by a Holder of Shares purchased by him/her in terms of
an offer for the purpose of securing Financial Assistance granted by the Company
to such Holder for the purchase of those Shares.
Record Date has the meaning given by the Listing Rules.
Share means one fully paid ordinary share in the Company.
Strate means Strate Limited (Registration No. 1998/0222242/06), a public company
incorporated in South Africa, which is licensed to central securities depository
in terms of the Securities Services Act (South Africa) which is responsible for
the electronic clearing and settlement used by the JSE.
Trading Rules means the:
(a) Listing Rules, any other rules of ASX applying to the Company while it is
admitted to the official list of ASX, and the ASTC settlement rules (or other
operating rules) as amended or replaced; and
(b) JSE Listing Requirements, any other rules of the JSE applying to the Company
while it is admitted to listing on the JSE and the Strate settlement rules or
other operating rules, as amended or replaced.
Underlying Director means:
(a) if the Holder is a director of the Company, the Holder; or
(b) if the Holder is a Director Nominee, the Director for whom the Holder holds
the Options for the purposes of clause 1.3(b).
Vesting Date means the date on which an Option vests, as described in clause 2.
SCHEDULE 1
O1 = O - E ((P - (S + D))/(N + 1))
where:
O1 =The new Exercise Price of the Option.
O = The old Exercise Price of the Option.
E = The number of Shares into which an Option is exercisable.
P = The average closing price (excluding special crossings, overnight sales and
exchange traded option exercises) on the Stock Exchange Automated Trading System
provided for the trading of securities on ASX of Shares (weighted by reference
to volume) during the 5 trading days before the ex rights date or ex
entitlements date, converted from dollars into ZAR (if necessary) at the
prevailing exchange rate considered appropriate by the Board.
S = The subscription price for one security under the renounceable rights or
entitlements issue, converted from dollars into ZAR (if necessary) at the
prevailing exchange rate considered appropriate by the Board.
D = The dividend due but not yet paid on existing Shares (except those to be
issued under the renounceable rights issue or entitlements issue), converted
from dollars into ZAR (if necessary) at the prevailing exchange rate considered
appropriate by the Board.
N = Number of Shares with rights or entitlements required to be held to receive
a right to one new security
UNQUOTE
Parktown, Johannesburg
1 June 2010
JSE SPONSOR
Macquarie First South Advisers (Pty) Limited
Date: 01/06/2010 07:06:02 Produced by the JSE SENS Department.
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