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QUICKFLIX LIMITED (QFX)

Delisted from ASX 14/02/2017

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Our website ranking of QFX: rating 5
(5 out of 5)
COMPANY WEBSITE:

 

REGISTRY:
Computershare, Level 2, 45 St Georges Terrace, Perth WA 6000
Tel : +61 8 9323 2000 or 1300 557 010
Fax : +61 8 9323 2033
RegistryWebsite RegistryEmail

Company details

Address: Suite 40, 460 Stirling Highway Cottesloe WA 6011
Tel:  (08) 9347 4900 Fax: (08) 9347 4901

Date first listed: 27/06/2005
Company Secretary: 
Sector: Retailing Industry Group: XDJ
Activities: Entertainment services offering online subscription to its library of over 11,000 titles, which include latest release, classic, independent and foreign movies, music, sport, documentaries and popular television series the company has a network of distrib
delisted from the close of trading on Tuesday, 14 February 2017, pursuant to Listing rule 17.11.14/02/2017
we understand shares in Quickflix were deemed to be worthless and were all transferred to Karma Media Holdings LLC for nil consideration upon payment by Karma of $400k in accordance with the Deed of Company Arrangement 14/02/2017
The administrators lodged an application with the ASX to have the company removed from the ASX official list in accordance with Chapter 17.11 of the ASX Listing Rules.18/01/2017
On 21 December 2016, Karma Media Holdings paid the final installment of $400k to the Deed Administrators. The DOCA has consequently been fully effectuated. 22/12/2016
ASIC has today executed the formal instrument of relief exempting the Deed Administrators and Karma Media Holdings from the requirements of Section 606 of the Corporations Act.16/12/2016
The company provides the Outcome of the s444GA Application. The court made orders that the Deed Administrators are granted leave to transfer all of the existing shares of the company to Karma. We advise that on 12 December 2016 we received a notice from ASIC advising that in principle it will grant the relief sought by the Deed Administrators. ASIC advised that its decision does not take effect until a formal instrument of relief is executed and that ASIC would execute that instrument if, and only if, the Court grants leave to transfer all of the existing shares of the Company to Karma. 13/12/2016
The following extensions of time have been made to the orders of Masters Sanderson: the time for a person to apply to be joined as a defendant to this proceeding has been extended to 2 December 2016; the time for the second plaintiffs to file an affidavit and any submissions in accordance with Order 7 has been extended to 9 December 2016; the application referred to in order 8 has now been listed on 13 December 2016. 28/11/2016
The deed administrators have filed a request to the court to extend the deadline by which interested parties have to file any defence to the application by one week from Friday, 25 November 2016 to Friday, 2 December 2016. The Deed Administrators have sought to defer the Court hearing by one (1) week from Tuesday, 6 December 2016 to Tuesday, 13 December 2016 at 9.15am (AWST). 18/11/2016
The company releases an Independent Expert Report.18/11/2016
The company provides answers to shareholder FAQ.07/11/2016
As previously advised, on Friday, 28 October 2016 the Deed Administrators submitted an application to the Supreme Court of Western Australia seeking leave for the Deed Administrators to transfer all of the existing shares of the Company to Karma. The Court today made an order, amongst other things, that a notice of the application be released on the Company's Announcement Platform on the ASX on or before 4 November 2016. Notice of the application follows in compliance with the order. 04/11/2016
On Friday, 28 October 2016, the Deed Administrators submitted an application to the Supreme Court of Western Australia seeking leave for the Deed Administrators to transfer all of the existing shares of the company to Karma. 31/10/2016
As announced to the Australian Securities Exchange (ASX) on 10 October 2016, the Deed Administrators applied to the Australian Securities and Investments Commission (ASIC) to defer the reporting obligations of the Company for a further period of six months, being to 26 April 2017. ASIC have today made an Order approving the application sought by the Deed Administrators.26/10/2016
The Deed Administrators have submitted an application to ASIC seeking relief from the operation of section 606 of the Corporations Act 2001 in order to enable the Deed Administrators to transfer, and Karma to acquire, all the shares in Quickflix Ltd.20/10/2016
Given the estimated timeframe for completion of the Deed of Company Arrangement executed between the Company, the Administrators and Karma Media Holdings LLC and the cost associated with complying with the Company's outstanding financial reporting obligations, on 7 October 2016 the Administrators applied to ASIC to defer the reporting obligations of the Company for a further period of six months, being to 26 April 2017.10/10/2016
At the meeting of creditors of the company held on 4 October 2016, creditors unanimously voted in favour of the company executing a DOCA. On 6 October 2016, the company, the administrators and Karma executed the DOCA in line with the DOCA proposal put to creditors at the meeting. A copy of the DOCA was lodged with the ASIC today.07/10/2016
At the meeting of creditors of the company held today, creditors unanimously voted in favour of the company executing a DOCA with Karma Media Holdings. 04/10/2016
The Administrators of the Company have today issued their report to creditors of the Company. A second meeting of creditors of the Company will be held on Tuesday, 4 October 2016 at 11.00am (WST) at the offices of Deloitte Touche Tohmatsu, Tower 2, Brookfield Place, Ground Floor Auditorium, 123 St Georges Terrace, Perth WA 6000. 22/09/2016
The administrators of the company have submitted a notification to ASIC for a deferral of the company's reporting obligations in relation to the company's accounts for the year ended 30 June 2016. The effect of this notice is to give the Administrators of the Company an opportunity to defer the Company's financial reporting obligations for a period of six months from the date of the appointment of the Administrators, being to 26 October 2016.14/09/2016
Under listing rule 17.6, any entity (if not already suspended) that had not paid its annual listing fees by close of business on Monday 22 August 2016 will have its securities suspended from official quotation before the commencement of trading on Tuesday 23 August 2016. The company has not paid its annual listing fees in respect of the year ending 30 June 2017 but the securities are already suspended from official quotation. 23/08/2016
The company releases a letter to its shareholders. The Court has allowed the Administrators until 21 October 2016 to convene the second meeting of creditors at which time the future of the Company will be determined. This was also unanimously approved by a meeting of the Committee of Creditors held on 17 May 2016. The intention is to convene the second meeting of creditors as soon as possible and to not require the full extension period that was given. 19/05/2016
At the first meeting of creditors on 6 May 2016, Richard John Hughes and I of Deloitte Touche Tohmatsu, replaced the First Administrators as Joint and Several Administrators pursuant to a resolution of creditors. The administrators are currently examining the Company's trading position with a view to assessing its future viability and whether a sale as a going concern or a recapitalisation can be achieved. 06/05/2016
On Tuesday, 26 April 2016, the Company appointed Dermott McVeigh, Wayne Rushton and Morgan Kelly of Ferrier Hodgson, Level 28, 108 St Georges Terrace, Perth as Joint and Several Voluntary Administrators of the Company. Notice is also given that a meeting of the creditors of the Company will be held at 11:00 am (AWST) on Friday, 6 May 2016 at the Jarrah/Banksia Room, Holiday Inn, 778-788 Hay Street, Perth WA 6000. 27/04/2016
Quickflix Limited advises that it has appointed partners from Ferrier Hodgson as voluntary administrators. 26/04/2016
The company lodges its quarterly report.21/04/2016
The company provides an update in relation to its restructure programme. Over the past months the Company has made considerable progress in repairing its balance sheet and as a result of its ongoing cost reduction exercise and restructure of Subscription Video on Demand ("SVOD") liabilities has recorded a substantial profit for the half year to 31 December 2015 and positive earnings before interest and tax for the months of January and February 2016. 04/04/2016
The company has previously advised the market that it has successfully restructured obligations in excess of $7.5 million with content providers, reduced costs and that it is seeking to reposition the Company and expand its base. The Company is also looking to reposition its existing offerings. The Company requires new capital to fund its existing business and new opportunities. So the Company's board is seeking to restructure the existing redeemable preference shares held by Stan Entertainment and Fairfax Media Ltd.11/02/2016
The company lodges its quarterly report.29/01/2016
Quickflix confirmsit hasfinalised agreements with additional SVOD licensors including major studios, resulting in the release of over $5 million in additional obligations (inclusive of the $4 million referred to in the announcement of 26 October).  In consideration of the releases Quickflix has restructured payment obligations for its remaining SVOD obligations, agreed certain royalty payments based on future revenues from 1 July 2016 and agreed to issue 51,209,657 options to subscribe for ordinary shares with a nil exercise price exercisable on or before 31 October 2018. The total amount of SVOD licensing obligations from which the Company has been released now exceeds $7 million. The formal agreements and release from debt obligations significantly improve the Company's balance sheet position and enables it to now proceed with plans for a re"capitalisation.   24/12/2015
The company lodges its Quarterly Update (& Appendix 4C) September 2015.30/10/2015
The company provides an update on company restructure.26/10/2015
The securities of Quickflix Limited (the "Company") will be suspended from official quotation immediately at the request of the Company, pending the release of an announcement. Security Code: QFX 31/08/2015
Quickflix is pleased to announce that it has entered into a non-binding memorandum of understanding with a Shanghai-based film and television company to combine their businesses and form a global streaming platform for distribution of Chinese film and TV content into China and international markets. 05/08/2015
The suspension of trading in the securities of Quickflix Limited will be lifted immediately following the release of an announcement regarding a non-binding Memorandum of Understanding with a Chinese content company. 05/08/2015
Quickflix Limited (ASX: QFX) updates the market that the conditions precedent to the Foxtel Presto Reseller Agreement have not been met and that the Agreement is therefore terminated. 04/08/2015
The securities of Quickflix Limited (the "Company") will be suspended from official quotation immediately at the request of the Company, pending the release of an announcement. Security Code: QFX 03/08/2015
The suspension of trading in the securities of Quickflix Limited (the "Company") will be lifted immediately, following receipt of an announcement regarding a capital raising. Security Code: QFX10/09/2013
The securities of Quickflix Limited (the "Company") will be suspended from quotation immediately at the request of the Company, pending the release of an announcement in relation to a capital raising. Security Code: QFX05/09/2013
The suspension of trading in the securities of Quickflix Ltd (the "Company") will be lifted immediately, following an announcement by the Company regarding the appointment of a director. Security Code: QFX30/11/2012
On 20 November 2012 the Company announced that it was working through a restructuring plan to reduce costs and capital requirements whilst continuing negotiations with parties regarding future funding requirements. The Company provides background on the necessity for the restructure and a progress report on its implementation. The Company also provides a summary of its strategy for achieving cash flow breakeven on a lower operating cost base during 2013 whilst leaving open growth options29/11/2012
securities suspended pending an announcement15/11/2012
securities reinstated21/07/2011
securities suspended pending an announcement20/07/2011
securities reinstated17/08/2010
securities suspended pending an announcement16/08/2010

ASX Announcements (courtesy of ASX)

 

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    Directors' on-market share transactions (last 5)

     

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Stephen LangsfordExecutive Chairman, CEO30/07/2003
    David P. SmithNon Exec Director04/07/2014
    Simon HodgeExecutive Director, CFO31/07/2003

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    David SandersNon Exec Director30/11/201231/03/2016
    Chris TaylorCEO11/07/201101/03/2013
    Justin MilneDeputy Chairman, Non Exec Director05/07/201120/11/2012
    Susan HunterDirector07/09/201220/11/2012
    Henry McGeeNon Exec Director17/07/201216/11/2012
    Jon SchahingerNon Exec Director13/03/200507/09/2012
    Simon SuttonNon Exec Director28/03/201217/07/2012
    Donald CampbellNon Exec Director05/07/201117/07/2012
    Ross McCreathCFO12/11/200905/07/2011

    Date of first appointment, title may have changed.