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Takeovers 101 ... NOT

Resolution of Federal Court Proceedings

In February 2024, Aussie Broadband Limited (ABB) acquired 19.9% of the issued capital of Superloop Limited (SLC). On 15 March 2024, SLC's directors issued a notice directing ABB to reduce its shareholding below 12%, which ABB subsequently did. On 18 March 2024, ABB commenced proceedings against SLC and its directors challenging the validity of that direction.

Having subsequently received further information as to the circumstances in which that direction was given, ABB has withdrawn the allegations it has made against SLC and its directors in the Proceedings (which by agreement will be dismissed) and made an agreed contribution to costs incurred by SLC and its directors.

[ATTACH=full]188265[/ATTACH]

[QUOTE="Dona Ferentes, post: 1305227, member: 66457"] Takeovers 101 ... NOT [CENTER][B]Resolution of Federal Court Proceedings[/B][/CENTER] In February 2024, Aussie Broadband Limited (ABB) acquired 19.9% of the issued capital of Superloop Limited (SLC). On 15 March 2024, SLC's directors issued a notice directing ABB to reduce its shareholding below 12%, which ABB subsequently did. On 18 March 2024, ABB commenced proceedings against SLC and its directors challenging the validity of that direction. Having subsequently received further information as to the circumstances in which that direction was given, ABB has withdrawn the allegations it has made against SLC and its directors in the Proceedings (which by agreement will be dismissed) and made an agreed contribution to costs incurred by SLC and its directors. [ATTACH type="full"]188265[/ATTACH] [/QUOTE]

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