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5G NETWORKS LIMITED. — M&A Activity 2021
Nov 10, 2021
64261_rns_2021-11-10_d4505afc-f3bc-4d5e-aba9-d93eac0526a0.pdf
M&A Activity
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ASX Announcement :
Court approves Scheme of Arrangement
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NEWS RELEASE 11[th] November 2021
5G Networks Limited (5GN) is pleased to announce that the Federal Court of Australia has today made orders approving the scheme of arrangement pursuant to which Webcentral Group Limited ACN 073 716 793 (ASX:WCG) (Webcentral) will acquire all of the issued ordinary shares held by 5GN shareholders (Scheme).
The Court’s approval of the Scheme follows approval by 5GN shareholders of the Scheme at a Scheme meeting held on 8 November 2021.
Pursuant to section 411(10) of the Corporations Act 2001 (Cth), the Scheme will become effective upon lodgement of the Court orders with the Australian Securities and Investments Commission (ASIC). It is expected that an office copy of the Court’s orders will be lodged with ASIC on Friday, 12 November 2021, at which time the Scheme will become legally effective. If this occurs, 5GN securities will be suspended effective from close of trading on ASX on Friday, 12 November 2021.
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Event Date
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| Event | Date |
|---|---|
| Effective date (Court order lodged with ASIC and 5GN shares will be suspended from trading on ASX from close of trading on this date) |
Friday, 12 November 2021 |
| New Webcentral shares commence trading on ASX on a deferred settlement basis |
Monday, 15 November 2021 |
| Scheme record date (the date for determining entitlements to the Scheme consideration) |
7.00 pm (Melbourne time), Tuesday, 16 November 2021 |
| Implementation date | Tuesday, 23 November 2021 |
| Commencement of trading of new Webcentral shares (issued as Scheme consideration) on ASX on a normal settlement basis (T+2) |
Wednesday, 24 November 2021 |
For further information contact:
Joe Demase Glen Dymond Managing Director Chief Financial Officer [email protected] [email protected] 1300 10 11 12 0408 199 712
About 5G Networks
5G Networks (5GN) is a licenced telecommunications carrier operating across Australia. Our mission is to be Australia’s partner of choice for unifying a seamless digital experience for our customers across data connectivity, cloud and data centre services, underpinned by expert managed services in the business to business market.
5GN currently owns and operates its own Nationwide highspeed Data Network with points of presence in all major Australian capital cities. In addition, the Company offers managed cloud solutions through its Cloud and Data Centre capabilities as well as managed services to optimise customers’ IT and network environments. Supporting this is the Company’s combined rack capacity of over 1,000 racks through its owned and operated Data Centres across Melbourne, Sydney, Brisbane and Adelaide
As an organisation, we are dedicated and passionate about delivering unique value to our 2500+ customers which include several top 50 ASX listed and Government organisations. This commitment is strengthened by a core focus on digital leadership, innovation and an exceptional customer experience.
The above key dates may change. Any change will be notified to ASX.
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Level 8, 99 William Street, Melbourne VIC 3000
www.5gnetworks.com.au
[email protected]
1300 10 11 12
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