Holista Colltech Limited (ASX: HCT, “Holista” or “the Company” wishes to acknowledge restrictions placed by Australian Securities and Investments Commission (ASIC) on the Company as announced by ASIC in its media release dated 20 October 2020. ASIC has made determinations pursuant to sections 708A(2) and 713(6) of the Corporations Act 2001 (Cth) restricting the Company from relying on the exceptions in sections 708A and 713 to issue a reduced-content prospectus, and to use exemptions for reduced disclosure in fundraising documents until 16 October 2021 (reduced disclosure). ASIC has also stated that its investigation into the Company’s conduct is ongoing. Holista is cooperating with the ASIC in its investigation. The Company is currently considering whether to appeal ASIC’s decisions through the Administrative Appeals Tribunal. Consistent with the Company’s announced Appendix 4C Quarterly Cashflow in July this year, Holista currently has no intention to raise capital over the next twelve months as it considers it has sufficient resources to execute its current growth strategy.
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wishes to acknowledge restrictions placed by Australian Securities and Investments Commission (ASIC) on the Company as announced by ASIC in its media release dated 20 October 2020. ASIC has made determinations pursuant to sections 708A(2) and 713(6) of the Corporations Act 2001 (Cth) restricting the Company from relying on the exceptions in sections 708A and 713 to issue a reduced-content prospectus, and to use exemptions for reduced disclosure in fundraising documents until 16 October 2021 (reduced disclosure). ASIC has also stated that its investigation into the Company’s conduct is ongoing. Holista is cooperating with the ASIC in its investigation. The Company is currently considering whether to appeal ASIC’s decisions through the Administrative Appeals Tribunal. Consistent with the Company’s announced Appendix 4C Quarterly Cashflow in July this year, Holista currently has no intention to raise capital over the next twelve months as it considers it has sufficient resources to execute its current growth strategy.
