Spectur Limited, in the matter of Spectur Limited [2019] FCA 867

FEDERAL COURT OF AUSTRALIA

Spectur Limited, in the matter of Spectur Limited [2019] FCA 867 File number: WAD 305 of 2019

Judge: COLVIN J

Date of judgment: 6 June 2019

Catchwords: CORPORATIONS - application for orders extending the period for issuing cleansing notices under s 708A of the Corporations Act 2001 (Cth) - where no trading in the shares since their issue - where no substantial injustice if orders made - where proper basis demonstrated for making the orders - application allowed - orders sought with retrospective effect not made

Legislation: Corporations Act 2001 (Cth) ss 708A, 1322, Part 6D.2

Cases cited: In the matter of National Roads and Motorists' Association Ltd [2003] FCAFC 206 Sprint Energy Limited, in the matter of Sprint Energy Limited [2012] FCA 1354

Date of hearing: 6 June 2019

Registry: Western Australia

Division: General Division

National Practice Area: Commercial and Corporations

Sub-area: Corporations and Corporate Insolvency

Category: Catchwords

Number of paragraphs: 14

Counsel for the Plaintiff: Mr CK Pearce

Solicitor for the Plaintiff: Blackwall Legal

ORDERS WAD 305 of 2019 IN THE MATTER OF SPECTUR LIMITED (ACN 140 151 579) SPECTUR LIMITED (ACN 140 151 579) Plaintiff

JUDGE: COLVIN J DATE OF ORDER: 6 JUNE 2019

THE COURT ORDERS THAT:

1. Pursuant to s 1322(4)(d) the period of five business days referred to in s 708A(6)(a) be extended until two business days after the date of these orders in respect of any sale offer of any of the following shares issued by the plaintiff: (a) 3,333,333 fully paid ordinary shares issued on 12 September 2018; (b) 333,334 fully paid ordinary shares issued on 28 November 2018; (c) 3,333,333 fully paid ordinary shares issued on 17 December 2018; and (d) 155,602 fully paid ordinary shares issued on 8 April 2019. 2. A copy of these orders shall be served by the plaintiff on the Australian Securities and Investments Commission and on ASX Limited as soon as reasonably practicable. 3. The plaintiff shall publish an ASX announcement in which a copy of these orders is included and shall do so as soon as reasonably practicable. 4. The plaintiff shall publish a copy of these orders on its website and shall do so as soon as reasonably practicable. 5. For a period of 28 days from the publication of the ASX announcement in accordance with order 3, any person who claims to have suffered substantial injustice or is likely to suffer substantial injustice by the making of any or all of these orders has liberty to apply to vary or discharge them. 6. There be no order as to costs. Note: Entry of orders is dealt with in Rule 39.32 of the Federal Court Rules 2011.