ZEO zeotech limited

1.43%

6.9¢

Ann: Trading Halt, page-16

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GH1971

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26/09/22

10:08

Post #: 63873870
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Originally posted by WilliamColgate: ↑

I’d love to share your enthusiasm, but that’s not how disclosures work.

ZEO disclosed the legal action in their annual accounts and a contingency is included for the full amount of the claim, $1,426,950 plus interest. They were required to disclose this because it’s a material liability and therefore it follows that it would reasonably impact an investors decision to participate in this placement.

Omitting any reference of it from the term sheet looks potentially misleading IMO.

The cash position at the end of June was $2,907,000 with an estimated expenditure of $965,780 for this quarter. Based on the company’s own estimates the cash position will be approximately $1,941,219 at the end of this month.The directors have to demonstrate solvency, inclusive of contingency for the the legal claim which is virtually all the remaining cash. IMO, this is the main reason the Directors are raising capital now, they’ve got no choice.

Why care about the legal action disclosure? Because if these new shareholders take a placement without full disclosure then what do you think they’ll do when they find out there’s a legal claim from John Goody, an ex-director for $1,426,950.

And secondly, if John Goody loses this legal action then what do you think he’s going to do with his 90,201,000 shares?

Expand

a) no "enthusiasm" on my part, simply answered the q you aksed

b) Yes, that is how market disclosures work. If anyone invested in the placement (I didn't) and tried to sue arguing they were unaware of the court case they would get nowhere given a market sensitive ann had been lodged.

ZEO Price at posting: 4.8¢ Sentiment: Hold Disclosure: Held
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(20min delay)
Last 6.9¢		Change -0.001(1.43%)		Mkt cap ! $129.3M

Open	High	Low	Value	Volume
7.0¢	7.1¢	6.9¢	$39.92K	567.6K

Buyers (Bids)

No.	Vol.	Price($)
1	40000	6.8¢

Sellers (Offers)

Price($)	Vol.	No.
7.0¢	568465	1

View Market Depth

No.	Vol.	Price($)
1	40000	0.068
2	514626	0.067
2	2082319	0.066
4	1252256	0.065
1	31250	0.064

Price($)	Vol.	No.
0.070	568465	1
0.071	516000	1
0.073	200000	1
0.077	211629	2
0.080	106724	2

Last trade - 15.27pm 27/06/2025 (20 minute delay)

ZEO (ASX) Chart

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