Geo Limited


Transaction Type: Company meeting (Allotment)

Allottee: North Ridge Partners Pty Limited

Independent Adviser(s): Simmons Corporate Finance (Rule 18)

Date of meeting: 27/11/2019


Geo Limited (Geo) had entered into a convertible loan agreement (the CN Agreement) to borrow up to $2.0 million from North Ridge Partners Pty Limited (North Ridge) via the issue of convertible notes. The $2.0 million represented the total commitments. Of this, $1.5 million represented agreed commitments and the remaining $0.5 million represented an additional commitment that may be made if Geo and North Ridge agree. In accordance with the CN Agreement, the convertible notes were convertible into ordinary shares. Geo sought shareholder approval for the allotment of shares to North Ridge on conversion of the convertible notes.

Geo shareholders approved the allotments at the annual meeting of shareholders on 27 November 2019.

Simmons Corporate Finance prepared a rule 18 independent adviser’s report on the merits of the allotments.