federal court approves move to usa

Just got back from room 18A of the Federal Court of Australia where Justice Stone presided over the application filed by Uni concerning the redomiciliation to America.

Got off to a funny start J Stone had a crook leg and come out on her crutches and nearly took a swan dive when taking her seat!

The team was made up of one barrister and 5 from DLA Phillips Fox (Im sure 4 of them will put their time down to staff training!)

First 30mins was spent dealing with various affidavits concerning the overwhelming shareholder support from the meeting last week and a problem with the notice provided to shareholders of the meeting. The corps act requires 28 days notice, Uni only provided 25 due to having to swap printers of the IM mid stream. Its amazing to think the work that has gone on behind the scenes by AS and the team.

Thankfully this was only a procedural irregularity and relief was claimed under section 1322 of the corps act and supported by the decisions of Justice Powel in the matter of Broadway Motors and the court of appeal decision in the matter of Winpark.

Finally, an exception was required in relation to 3A10 of the US Securities Act 1933 and the decisions made in Central Pacific, Solution 6 and Symbion (I was actually a shareholder in that one) in 2002 supported our submissions.

Justice Stone consented to the orders at about 320pm. What a smashing result for Uni and a great way to kick of 2010!

Next stop, Nasdaq.