SGX asked Alita to explain why the timetable for actions after the release of the statement and report had not been shifted to a later date, given the delay in said publication. Shareholders should be given sufficient time"to review, digest, decide and raise relevant concerns", objections or questions, said SGX."Only then will they be able to enter into meaningful appearance."
Alita replied that under Australian laws and regulations, 14 days before the directions hearing - which is scheduled for Jan 30 -"would generally constitute sufficient notice to shareholders for this purpose". SGX also asked Alita to provide more details on the bases and justifications for the section 444GA application and how shareholders' investment and interests are taken care of, as shareholders may have their investments transferred at nil consideration. Alita said this will be disclosed in the explanatory statement and expert report.
SGX further asked what other steps the deed administrator KordaMentha will take to provide clarity to shareholders, answer their questions,"and ensure all comments, concerns, questions and objections from shareholders are duly and fairly taken up and presented to the court". Alita replied:"The deed administrators continue to consider what arrangements, if any, might be appropriate in this regard, and will provide guidance following the release of the explanatory statement and the accompanying expert report."
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