Territory's intentions for the Company Given the potential increase in Territory's voting power in the Company as a result of the Rights Issue and its sub-underwriting of the Rights Issue, there is also a requirement to provide details of Territory's current intentions for the Company in the event that it gains effective control of the Company. Territory has informed the Company that if it were to gain effective control of the Company by virtue of its shareholding, including Shares acquired under the Rights Issue and its sub-underwriting of the Rights Issue, the current intentions of Territory are as follows: (a) procure that the Company will: (i) generally continue the business of the Company; (ii) not make any major changes to the business of the Company nor redeploy any of the fixed assets of the Company; and (iii) continue the employment of the Company's present employees; and (b) retain the current Board of the Company with the existing nominees of Territory. The intentions and statements of future conduct set out above must also be read as being subject to the legal obligation of the Company directors at the time, including any nominees of Territory, to act in good faith in the best interests of the Company and for the proper purposes and to have regard to the interests of the Shareholders. The implementation of Territory's current intentions of its ownership of the Company, will be subject to the law (including the Corporations Act), the ASX Listing Rules and the Company's constitution. In particular, the requirements of the Corporations Act and the ASX Listing Rules in relation to conflicts of interest and "related party" transactions will apply in the event that Territory is treated as a related party of the Company. Territory would only make a decision on its courses of action in light of material facts and circumstances at the relevant time and after it receives appropriate legal and financial advice on
MAL Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held