Can anyone please clarify in layman's terms what this point mean?
"The Company has been advised by its US counsel that Section 3(a) (10) of the Securities Act 1933 provides an exemption from the Act for registration of offers and sales of securities in specified exchange transactions where the terms and conditions of exchange are approved after a court hearing on the fairness of such terms and conditions which all persons to whom it is proposed to issue securities in such exchange have the right to appear. Our recent advice confirms that the procedure to be adopted under the proposed Schemes of Arrangement does not require the Company to seek a “no action” request from the SEC in order to take advantage of the Section 3(a)(10) exemption."
please explain
Add TZL (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
2.5¢ |
Change
0.003(13.6%) |
Mkt cap ! $6.414M | |||
| Open | High | Low | Value | Volume |
| 2.4¢ | 2.5¢ | 2.4¢ | $6.023K | 241.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 261809 | 2.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.7¢ | 2000000 | 1 |
View Market Depth
| Last trade - 14.43pm 11/07/2024 (20 minute delay) ? |
| TZL (ASX) Chart |