See email I received today from my query to the Administrator.I refer to your email below and provide an update in respect of the Administration as follows.
A Deed of Company Arrangement (“DOCA”) was executed and Cameron Shaw, Richard Albarran and Brent Kijurina were appointed Deed Administrators on 31 August 2018. At a meeting of creditors held on 29 May 2020, the creditors of the Company resolved to vary the terms of the Deed of Company Arrangement (“DOCA”).
In accordance with the terms of the revised DOCA variation proposal, existing shareholders are to be consolidated at a rate to be determined that will reduce their aggregate shareholding to 2.5% post effectuation of the DOCA.
All conditions of the DOCA were met and the DOCA was effectuated on 30 November 2020.
The Directors of the Company are currently making arrangements to convene a shareholder meeting in respect of the share consolidation. You will be provided with an update from the Company in due course.
Should you have any queries please do not hesitate to contact me.
Kind regards,
Jessica Webb
Supervisor
Level 40 | 2 Park Street | SYDNEY | NSW 2000 | Australia
T +61 2 9263 2600 | F +61 2 9263 2800
E [email protected] W www.hallchadwick.com.au
