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OPEN TELECOMMUNICATIONS LIMITED (OTT)

Delisted from ASX 31/05/2006

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company changed its name to S2Net Limited after delisting from ASX15/06/2006
delisted following a decision by the company to end quotation of its shares because of the listing costs, limited liquidity and high number of shareholders with less than marketable parcels31/05/2006
shares suspended from quotation24/05/2006
reinstatement to quotation03/02/2004
issues replacement disclosure documents18/12/2003
reports that the company has raised $7.2m12/12/2003
meeting of creditors to be held on 10 Dec 03 - refer to the market release because there are a number of important proposals05/12/2003
resolution to approve issue of additional shares and options overwhelmingly approved21/11/2003
company calls a meeting for 21 Nov to consider its proposals to raise $10m through a share issue and institutional placement21/10/2003
company takes what it describes as a major step towards re-quotation on ASX with the appointment of Paterson Ord Minnett to act as Lead Manager of a two stage equity capital raising for the company09/10/2003
at AGM shareholders are informed it is likely to be at least two years before their shares are requoted on ASX - four instalments have to be paid to creditors before the DOCA is effectuated30/06/2003
company announces an AGM to be held in North Sydney on 30 June 2003 - hopefully directors will then provide to shareholders and by way of a release to the market, an overview of the company's prospects including possible plans and timing for re-quotation of the shares05/06/2003
the company operates under a Deed of Company Arrangement which will come to an end only when the company fulfils all its obligations under the Deed - under the Deed, it is expected that the final payment to unsecured creditors would occur in June 2005 - however, the Deed allows the Company to repay its obligations at an earlier date - accordingly, it could be sooner than June 2005 where OT is able to apply for re-instatement in the ASX20/11/2002
now that the company is no longer under administration, shareholders are able to buy or sell or transfer shares (but it may not be done through the ASX as the shares are suspended from quotation) - 'off market' trading is permitted19/11/2002
the voluntary administration of the company comes to an end and control reverts to its directors18/11/2002
at a creditors meeting it was resolved that the company execute a Deed of Company Arrangement ("DOCA") - the terms of the DOCA essentially provide that the company will continue to trade and creditors will receive a compromised amount in satisfaction of their debts over the course of the next 2 1/2 years28/10/2002
administrators call for expressions of interest from prospective buyers to purchase various parts of the business, including Open Tel's Operations Support System (OSS) - they expect this process to be finalised by the end of August 200209/08/2002
company advises that the previously announced sale of its OSS business has not been able to be completed - as a result, the directors have resolved that in their opinion, the company is insolvent or likely to become insolvent within the foreseeable future and have appointed R Whitton and P Yates of Deloitte Touche Tohmatsu as administrators12/07/2002
company announces that it has concluded an agreement to sell its OSS Business to OpenCI International Pty Limited (formerly Macquarie Infrastructure No 4 Pty Limited), for a purchase price of up to $3.1 million (with a minimum purchase price of $2.4 million)17/06/2002
company confirms it is seeking external advice to prepare an independent expert's report in relation to the current financial position and the optimal way forward for the company28/05/2002
company reaches an in principal agreement with respect to the resolution of a dispute with a customer - the dispute is the subject of proceedings commenced in the Supreme Court of New South Wales - company requests a continuation of suspension of quotation of its shares20/05/2002
securities suspended from quotation pending release of further announcements relating to negotiations with one of the company's customers30/04/2002
we understand that on or about this date the company split its shares 5 for 120/04/2000

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