Company update – Orders made by the Federal Court
As announced on 16 May 2019, the Company filed an application with the Federal Court of Australia seeking declaratory relief and ancillary orders under the Corporations Act to validate prior trading in shares and options issues made within the past few years which were not accompanied by the issue of a cleansing notice or cleansing prospectus, and to relieve persons who have sold those shares and options without further disclosure from any civil liability they may otherwise have.
The Company’s application was heard by the Federal Court at 10.15 am on Monday, 20 May 2019.
The Federal Court has made the orders sought by the Company, as annexed to this announcement (Orders).
Pursuant to the Orders, any person who claims to have suffered substantial injustice or is likely to suffer substantial injustice by the making of the Orders has liberty to apply to vary or to discharge the Orders within 60 days from the date of this announcement and the reinstatement of the Company’s securities by the ASX .
The Company has provided a copy of the Orders to the ASX and ASIC, and has requested that the ASX reinstate the Company’s securities to trading.
A copy of this announcement and the Orders will also be made available on the Company’s website.