TIDMWAS
RNS Number : 2869H
Wasabi Energy Limited
16 May 2014
Wasabi Energy Limited (Subject to Deed of Company
Arrangement)
("WAS," "the Group" or "the Company")
16 May 2014
Change of Name, Result of Meeting and Issue of Shares
Wasabi Energy Limited (Subject to Deed of Company Arrangement)
advises that at the meeting held today all of the resolutions were
passed.
Change of Name
Following the meeting, the Company name is Enhanced Systems
Technologies Limited. The new ticker symbol for the Company is
ESTL. These changes will be effective on AIM as of 19 May 2014.
There is no change to the ISIN.
Share Consolidation and Issue of Shares
Under the terms of the Deed of Company Arrangement, the Company
has today consolidated its existing share capital on the basis of 1
new share for each 765 existing shares. Further, the Company has
issued shares to its creditors on the basis of 2 new shares for
each $1 of debt. The issued capital of the Company is
therefore:
Consolidated Existing
Share Capital 4,861,126
---------------------------- -----------
New Shares Issued 32,461,954
---------------------------- -----------
Total Issued Share Capital 37,323,080
---------------------------- -----------
The total issued share capital of the Company of 37,323,080
shares will be amended on AIM effective of 19 May 2014.
Suspension of Trading
The suspension of trading in the shares of the Company will
remain in place. The Company will provide a further update in
relation to the timing of re-commencement of trading as
appropriate.
Directors Holding
Included in the above issue of New Shares are the following
issues to Directors and their related entities:
Director Number of Total Number Percentage
New Shares of Shares of Shares held
Issued in Company in current
issued capital
------------------ ------------ ------------- ----------------
John Byrne 2,762,239 3,171,232 8.5%
------------------ ------------ ------------- ----------------
Robert Reynolds 45,479 84,168 0.23%
------------------ ------------ ------------- ----------------
Malcolm Jacques 55,000 72,616 0.19%
------------------ ------------ ------------- ----------------
Robert Vallender 45,833 69,387 0.18%
------------------ ------------ ------------- ----------------
Proxy Votes
In accordance with Section 251AA of the Corporations Act, we
advise that proxy votes received for the meeting were as
follows:
Total
votes
Resolutions For Against Abstain cast
Resolution 1 - Consolidation
of Issued Share capital 718,500,809 54,669,777 582,000 773,752,586
Resolution 2 - Approval
to Issue Shares 719,488,136 53,028,516 1,235,937 773,752,586
Resolution 3 - Approval
to Issue Shares to Arcourt
Resources NL 497,433,644 55,827,800 856,264 554,117,708
Resolution 4 - Approval
to Issue Shares to Tiodi
Pty Ltd 497,433,644 55,827,800 856,264 554,117,708
Resolution 5 - Approval
to Issue Shares to Octwood
Pty Ltd 717,068,522 55,827,800 856,264 773,752,586
Resolution 6 - Approval
to Issue Shares to Vallender
Pty Ltd 717,068,522 55,827,800 856,264 773,752,586
Resolution 7 - Approval
to Issue Shares to
Reynolds Coal Marketing
Pty Ltd 717,068,522 55,827,800 856,264 773,752,586
Resolution 8 - Approval
to Issue Shares 717,168,522 55,727,800 856,264 773,752,586
Resolution 9 - Approval
to Issue Shares 415,398,105 55,727,800 856,264 471,982,169
Resolution 10 - Approval
to Issue Shares to Twenty
Second Yeneb Pty Ltd 497,433,644 55,827,800 856,264 554,117,708
Resolution 11 - Approval
to Issue Shares 415,398,105 55,727,800 856,264 471,982,169
Resolution 12 - Approval
to Issue Shares and Options 718,046,522 54,849,800 856,264 773,752,586
Resolution 13 - Change
of Company name 719,587,586 53,083,000 1,082,000 773,752,586
For further information, please contact:
Enhanced Systems Technologies
Limited
John Byrne, Executive
Chairman +61 (0)3 9236 2800
Cenkos Securities - UK
Financial Advisor, Broker
& NOMAD
Beth McKiernan/Neil McDonald +44 (0)131 220 6939
This information is provided by RNS
The company news service from the London Stock Exchange
END
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