ULTRAPAY LIMITED (ASX.ULT)

company deregistered today

a loss declaration has been issued today and the capital loss can therefore be claimed in the financial year the declaration is issued

we understand ASX can exercise its discretion to delist a company under Listing Rule 17:12 and has probably done so in this case because the company is in liquidation and its securities have been suspended for many years

delisted at ASX discretion

Matthew Jess of Worrells is appointed liquidator

administrators advise of cancellation of proposed creditors meetings given that the administration has ceased

court orders the appointment of provisional liquidator Matthew Jess of Worrells - the administration ceases

administrators of Hall Chadwick are appointed

an announcement today advising of the resignation of Messrs Hannan and Jaffe is well worth reading

company has suspended discussions with the Australian Taxi Drivers Association and TAXIS

another update is provided by the secured creditor

company's listing fees have been paid

a somewhat obtuse and convoluted update is provided by the secured creditor

is calling an EGM for 25 July

the company announces that it has received an order from Australian Taxi Drivers Assn for the supply of "up to" 20,000 terminals over 2 years

GI Investment buys 25.2m Ultrapay shares

company is seeking registration in the USA so that it can trade there

in a somewhat convoluted manner the company announces that it has received a revised order from "MainStreet International Group, an Australian public company" for the supply of "up to" 10,000 terminals over 5 years (strange that the telephone number for Mainstreet happens to be the same number as Ultrapays and both have the same postal address - P.O. Box 10070 Adelaide Street, Brisbane QLD 4000) - supposedly shareholders would be informed if this was anything other than an "arms length" order

the company is moving towards commercialisation of its subsidiarys' businesses

Paul Pattison ceases as administrator on 6 November 2009 - a director advises the market today

the second meeting of creditors is to be held for the sole purpose of adjourning the meeting to 2 October 2009

administrator says he has not had access to company records and no deed of company arrangement has been proposed - he is applyng to the court for an extension of time to hold the second meeting of creditors

first meeting of creditors is held

administrator Paul A Pattison is appointed - second meeting of creditors is adjourned until 31 August 2009

it is now almost five months since there has been an announcement to the market - the company is suspended from quotation - it is amazing that directors can have so little disregard for their shareholders

company announces that it has received a confirmed written Order from MainStreet International Group Limited ("MainStreet") for the supply of 10,000 Ultrapay MT3000 Wireless EFTPOS Terminals to be supplied in a number of configurations and delivered over the next five (5) year period

company is planning to sell non-core assets to recover up to $2m so that it can re-commence production

the company is now moving to complete accounting orientated matters to see it re?list at the earliest possible opportunity - this includes; the completion of the 2007 Audit and Annual Report, convening the 2007 Annual General Meeting, completion of the Half Year Report to December 2007, and the Audited Financial Statements for the year ended 30 June 2008 - in the meantime the company will continue trading as normal

Fulcrum Equity advises of the sale of 29m shares in Ultrapay

it is now six months since the board of this company had anything to say to its shareholders - given the circumstances it is astonishing that not one of the following people has thought fit to explain to shareholders what the company is doing: Mr Thomas J O'Brien (Chairman) Mr James Scobie (CEO) Ms Anna Barnes (CFO) Ms Sophie Karzis (Investor Relations) Mr Byron Ko (Non Exec. Director) Mr Michael Boyd (Non Exec. Director)

directors have resolved that it is in the best interests of shareholders to sell the current ULT business and distribute the proceeds to existing shareholders via a capital return, liquidate the ULT assets and distribute the proceeds to Shareholders and/or inject a new business into the ULT corporate vehicle - Directors note that they have already received several approaches to purchase the ULT assets and to inject a new business into the ULT company vehicle - the Company is seeking expressions of interests from parties by 19 October 2007

the Company has sought to raise additional capital over the past month to fund the rollout of the UK taxi business - due to the uncertain environment in global sharemarkets this capital raising has been unsuccessful - the disappointing response to the Rights Issue in May this year where less than 6% of shareholders took up their rights along with the delay in the sale of the company's final shareholding in Telcogames Limited contributed to a review of the Company's strategic plans - at this stage the Company is considering pursuing the OEM sales and licensing opportunities that it has been working on, and keeping the UK business operating to support the initial small number of taxis that have been operating with the UltraPay system - however, the Company says it is unable to continue the full rollout of the UK taxi business as previously contemplated due to a lack of funds - the Company will operate on a minimum cost basis whilst it continues to seek alternative sources of funding or other strategic options that become available

securities suspended from quotation pending the outcome of a strategic review

name changed from HLT Limited