The browser you are currently using is not being supported by this website, please upgrade to a more recent browser for a better viewing experience.
Independent Adviser(s): PricewaterhouseCoopers (Rule 18)
Company Meeting Date: 28/04/2014
Summary of transaction
As part of a proposed capital raising, Lignotech Developments Limited (“Lignotech”) proposed to allot shares to KAAPA Investments LLC (“KAAPA”) to fund the construction of a United States based research and production facility.
The Panel approved PricewaterhouseCoopers to prepare a rule 18 independent adviser’s report on the merits of the allotment of shares to the allottees (being several funds which were established by KAAPA and were likely to be associated for the purposes of the Code).
A special meeting of shareholders was held on 28 April 2014. At the meeting, Lignotech shareholders were asked to approve any increase above 20% of the control of voting rights in Lignotech up to a maximum of 32.1% by the allottees.