I’m curious about the potential implications if ASX Compliance concludes that the companies and individuals named in the 17 Apr ASX Query Letter are indeed “related” or “associate” parties.
Does anyone know:
Would the A$ 2.39 m BNPLPay licence acquisition be rendered invalid or subject to unwind?
Is ASX likely to exercise its discretion under LR 10.11.5 and require a retrospective EGM to approve the Placement shares issued to the mentioned parties?
In that EGM, would those related parties (and their associates) be prohibited from voting under LR 10.13?
Given that Clee & Finran once held over 31 % of Ovanti’s shares, could ASX retrospectively trigger a mandatory takeover-bid under Corp Act s 606/631?
What other outcomes might follow—trading halts, corrective disclosures, or civil penalties?
Has anyone seen precedent or official ASX guidance on these scenarios?
OVT Price at posting:
0.4¢ Sentiment: None Disclosure: Not Held
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