Offeror(s): Beconwood Securities Pty Limited

Independent Adviser(s): PricewaterhouseCoopers

Company Meeting Date: 05/12/2001

On 29 May 2001, E-cademy Holdings Limited (“E-cademy”) and Matrix IP PTY Limited (“Matrix”) signed a deal whereby E-cademy would issue shares and options to Matrix in exchange for Matrix providing or procuring a $200,000 loan. In fulfilling their obligations, Matrix approached Melbourne based investor Beconwood Securities Pty Limited (“Beconwood”). In October 2001, E-cademy agreed to issue 280 million ordinary shares to Beconwood at a price of 0.09 cents per share for a total of $253,000 and representing 44.55% of voting rights in E-cademy after issue. Accordingly, E-cademy sought shareholder approval of the allotment.

 

On 5 December 2001, E-cademy shareholders approved the transaction.

 

Key Documents

Notice of Meeting: