AVR 4.08% $12.49 anteris technologies ltd

Ann: Extension for Voluntary Suspension, page-273

  1. 30,371 Posts.
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    Ok the link didn't work.

    Here is the text:

    09 Sep 2016

    Admedus Ltd (ASX:AHZ) has announced that it has reached a binding agreement to settle the proceedings that were commenced in the Federal Court by Dr Geoffrey Lane and Dr Keith Woollard (and entities associated with Mr Lane and Mr Woollard) on 7 November 2014, as noted in the company’s announcement on 12 November, 2014.Wayne Paterson, chairman and interim CEO, said today: "On behalf of the board, I would like to thank the parties for resolving the proceedings."I am pleased with the outcome of the settlement which results in Admedus Ltd now owning 100% of the regenerative technology."The settlement is in full and final resolution of the proceedings and is without admission of liability of Admedus.The terms and conditions of the settlement agreement remain confidential; however settlement will have a minimal impact on the financial position of the company.

    These were foundation medical scientist members of ADO and as I recall the fight was about their shareholder entitlements which probably turned on their contributions to the technology in question. Being settled means no appeal possible.

    So basically, old news mistakenly revived by recent news, that isn't substantial and was outside the jurisdiction.
 
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