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BYTE POWER GROUP LIMITED (BPG)

Delisted from ASX 03/02/2020

SHARE PRICES

(updated weekly)

Former (or subsequent) names

 FROMTO
BYTE POWER GROUP LIMITED02/07/2003
WILLHART LIMITED11/05/199902/07/2003
SATRECOL AUSTRALIA LIMITED11/05/1999

Shareholder links

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

 

REGISTRY:
Link Market Services,Level 21, 10 Eagle Street Brisbane QLD 4000
Tel : +61 7 3320 2200 or 1300 554 474
Fax : +61 2 9287 0303
RegistryWebsite RegistryEmail

Company details

ISIN: w
Address: Unit 13, 76 Doggett Street, NEWSTEAD, QLD, AUSTRALIA, 4006
Tel:  (07) 3620 1688 Fax: (07) 3620 1689

Date first listed: 23/11/1988
Company Secretary: Michael Wee
Sector: Retailing Industry Group: XDJ
Activities: Dstributor of IT hardware, software and telecommunications products to companies in Australia and South-East Asia

delisted from the commencement of trading on 3 February 2020 pursuant to Listing rule 17.12.

03/02/2020

we understand this company failed and ASX removed the company from listing because its securities have not been quoted for more than three years

03/02/2020

The company lodges its Appendix 4C - monthly.

31/01/2020

The Board remains of the view that it is unlikely to reach a resolution with the ASX to have the suspension lifted on or before the close of trading on 31 January 2020 which will mean BPG will be automatically removed from the Official List at the commencement of trading on Monday 3 February 2020. On the basis that BPG is removed from the Official List the Board will follow ASIC's Good Practice Guidance for unlisted disclosing entities continuous disclosure requirements for website disclosure and comply with all applicable corporate governance practices.

30/01/2020

Shareholders in this company should consider crystallising a capital loss in 2019/20 by selling their worthless shares, which they can achieve online by entering transaction details here. We recommend you seek professional advice before buying or selling securities, your accountant is probably the best person.

18/01/2020

Byte Power X Singapore Pte Ltd, will be launching its cryptocurrency exchange, Byte Power X Singapore on 31 December 2019. BPXS will launch with 10 cryptocurrencies. The exchange will also have fiat pairings with SGD, USD, and AUD.

27/12/2019

The company lodges an Appendix 4C - monthly.

23/12/2019

The Board of BPG has determined that it is unlikely to reach a resolution with the ASX to have the suspension lifted on or before the close of trading on 31 January 2020. Unless the suspension of BPG's securities is lifted by the close of trading on 31 January 2020, the entity will be automatically removed from the Official List at the commencement of trading on Monday 3 February 2020. The Board is now working on a range of strategies with a view of restoring shareholder value, even after delisting. After the company has been removed from the Official List the company will continue to have on-going disclosure obligations as an unlisted disclosing entity.

09/12/2019

The company lodges its Appendix 4C - monthly.

29/11/2019

The company releases the results of its meeting.

25/11/2019

The company lodges its Appendix 4C - monthly.

31/10/2019

There is a typographical error on the proxy form sent to shareholders for the upcoming annual general meeting of BPG. The form states the address of the AGM is HWL Ebsworth Lawyers, Level 19, 480 Queen Street, Brisbane. As per the Notice of Meeting, Explanatory Memorandum and per the ASX announcement released on 23rd September 2019 the meeting will be held at the offices of Hopgood Ganim Lawyers, Level 8, Waterfront Place, 1 Eagle Street, Brisbane on Monday 25th November 2019 at 2.30pm Brisbane time.

30/10/2019

The company's AGM will be held on 25 November 2019 at 2.30pm (Brisbane time) at Hopgood Ganim Lawyers Level 8, Waterfront Place, 1 Eagle Street, Brisbane.

23/10/2019

An amount of US$419,400 was due to be paid to Noetic on or before the 30th September 2019. Noetic and BPPL have agreed to an extension for this payment to 31 st December 2019.

01/10/2019

On the 19th July 2019 the High Court of the Republic of Singapore adjudged the defendants, Soar Labs Pte Ltd and Neo Wenyuan, must pay to BPG and BPPL the final settlement balance plus costs and interest relating to this matter. BPG and BPPL have now finalized a repayment agreement with Mr Neo Wenyuan of Soar Labs to make the final settlement payment of US$120,556.97 plus costs and interest to BPPL on or before 31st January 2020.

01/10/2019

The company lodges its Annual Report 2019.

01/10/2019

The company lodges its Appendix 4C - monthly.

30/09/2019

The company lodges its Preliminary Final Report.

02/09/2019

The company lodges its Appendix 4C - monthly.

30/08/2019

The company has not paid their annual listing fees in respect of the year ending 30 June 2020 but the securities are already suspended from official quotation.

22/08/2019

The company lodges its Appendix 4C - monthly.

31/07/2019

The company provides a further update on the announcement made this earlier. On 19th July 2019, the High Court of the Republic of Singapore ruled that the defendants, Soar Labs Pte Ltd and Neo Wenyuan must pay BPPL the remaining balance owing by Soar Labs Pte Ltd to BPPL (US$120,556.97), plus costs on a full indemnity basis, plus interest on these balances from the date of the writ until the date the payment is made.

19/07/2019

On 18 July 2019, Byte Power filed an application for Default Judgement in the High Court of the Republic of Singapore against its defendants, Soar Labs and Neo Wenyuan, as neither party submitted a defense against the previously filed Statement of Claim. The application is also seeking costs on a full indemnity basis. This application will be heard in courts in Singapore and, should the application be successful, BPPL will take further actions against the defendants for recovery of the balance of US$120,556.97 still owing by Soar Labs Pte Ltd to BPPL.

19/07/2019

The company lodges its Appendix 4C - monthly.

28/06/2019

On 19 June 2019, the Board of BPPL commenced litigation proceedings in the High Court of the Republic of Singapore to recover the balance of proceeds due to BPPL from Soar Labs as per the Settlement Agreement. A Statement of Claim has been lodged in the High Court of the Republic of Singapore, and a Writ of Summons issued to Soar Labs (1st defendant) and Neo Wenyuan (2nd defendant). As per the Writ of Summons, Soar Labs and Neo Wenyuan have 8 days to either satisfy the Claim or enter an appearance. Since the 29 May announcement, Soar Labs had transferrred 801,392 soar coins to BPPL's nominated wallet address. The balance required to satisfy the amount owing under the Settlement Agreement, is US$120,556.97.

20/06/2019

The company lodges its Appendix 4C - monthly.

31/05/2019

An amount of US$458,150 was due to be paid to Noetic on or before the 31st May 2019. Noetic and BPPL have agreed to an extension for this payment to 30 September 2019.

31/05/2019

The Board of BPPL has agreed to the transfer of 544,726.60 Ripple coins from Soar Labs Pte Ltd to BPPL's nominated wallet address to settle US$200,000 of the final settlement payment owing by Soar Labs Pte Ltd to BPPL. BPPL has confirmed receipt of these Ripple coins in their nominated wallet. The balance remaining to finalise the settlement is US$120,556.97 and the transfer of 801,392 soar coins.

29/05/2019

Pursuant to the Settlement Agreement, Soar Labs was due to pay BPPL the balance of the settlement funds totaling US$320,556.97 and 801,392 soar coins on or before 24th May 2019 to finalise the settlement. This final settlement payment was not received by BPPL. The Board of Byte Power Pty Ltd is considering its position in relation to this matter.

27/05/2019

The company lodges an Appendix 4C - monthly.

30/04/2019

As of 31 March 2019, there were 1,906 users who had registered with the Cryptocurrency Exchange. Of these users, 181 have satisfied the Exchange "Know Your Client" requirements and these users come from 28 different countries of residence. An airdrop program offering free tokens to newly registered users was launched. As of 31 March 2019, 81,500 BPX tokens had been issued to registered users under this airdrop program. Trading commenced on the Exchange following its launch on 13 January 2019. From the launch date up until 31 March 2019, 38 qualified users conducted 353 trades on the Exchange with a total trade value of approximately A$53,500. Since launching the Exchange, 10 users have transferred funds to their accounts. As at 31 March 2019 the aggregate funds deposited amounted to $1,301. Development work is on-going by Noetic to add new pairings to the Exchange.

04/04/2019

The company lodges its Appendix 4C - monthly.

29/03/2019

The company lodges its Half Yearly Report and Accounts.

01/03/2019

The company lodges its Appendix 4C - monthly.

28/02/2019

BPG has complied with the Infringement Notice issued by ASIC on 12th December 2018 requiring BPG to pay a penalty to ASIC in the sum of $33,000. The penalty payment was made today which is within the extended compliance period as granted by ASIC. The Directors reiterate that compliance with the Infringement Notice is not an admission of liability by BPG and cannot be regarded as a finding that BPG contravened subsection 674(2) of the Corporations Act.

05/02/2019

ASX advised BPG that it still has concerns about BPG's operation of its cryptocurrency exchange, BPG's disclosure around the development of its cryptocurrency exchange and the legal status of the BPX loyalty tokens; and it intends to continue the suspension of BPG's securities until it is satisfied by the outcome of ASIC and ASX's ongoing investigations into these matters and is otherwise satisfied that BPG's securities are fit for reinstatement.

05/02/2019

The company lodges its Appendix 4C - monthly.

01/02/2019

The cryptocurrency exchange being developed by its subsidiary, Byte Power Pty Ltd, was s launched by Byte Power X Pty Ltd, a fully owned subsidiary of BPPL on 13 January 2019 and has commenced trading. BPXPL launched the Exchange with pairings of BTC/USD, BTC/AUD, LTC/BTC (BTC "“ BITCOIN, LTC "“ LITECOIN) and added the pairing ETH/BTC (ETH "“ ETHEREUM) on 14 January 2019. BPXPL plans to introduce additional cryptocurrencies to the Exchange by 31 January 2019.

16/01/2019

The company provides a response to ASX queries. The request for information is for the purposes of ASX being satisfied that BPG is in compliance with the ASX Listing Rules.

04/01/2019

The company and its subsidiary, Byte Power Pty Ltd, along with Mr Alvin Phua, have executed a Deed of Variation of the Settlement Agreement they signed with Soar Labs Pte Ltd on the 24th May 2018. The terms are as follows: Soar Labs' obligation to pay US$579,800 in accordance with clause 2.1.3 of the Settlement Agreement shall be fulfilled by transfer of Ripple equivalent of US$579,800 (at the time of each relevant transfer), to BPPL's cryptocurrency wallet; the parties agree that: on 9 November 2018, Soar Labs Pte Ltd transferred 1,181,063.441783156 Ripple (at a price of US$0.48938946 per Ripple) to BPPL's cryptocurrency wallet and on 23 November 2018, Soar Labs Pte Ltd transferred 4,478.05 Ripple (at a price of US$0.41 per Ripple) to BPPL's cryptocurrency wallet. Of the US$579,800 payment obligation settled by the transfer of Ripple, US$232,323.67 related to the payment obligation Soar Labs Pte Ltd owed to BPG and BPPL and US$347,476.33 related to the payment obligation Soar Labs Pte Ltd owed to Mr Phua.

03/01/2019

The company lodges an Appendix 4C - monthly.

02/01/2019

The company provides an update on the Cryptocurrency Exchange developed by its subsidiary, Byte Power Pty Ltd. The Cryptocurrency Exchange is today open for registrations. This allows users the opportunity to register on the Exchange. All pre-registered users who have provided verification documentation are currently being processed for KYC purposes. Trading has been disabled until we have verified recent updates and completed our security testing.

18/12/2018

The company releases the infringement notice issued by ASX for contravention of Section 674 of the Corporations Act 2001.

13/12/2018

On 12 December 2018, ASIC issued to Byte Power Group Ltd: an Infringement Notice requiring BPG to pay a penalty to ASIC in the sum of $33,000; and a determination that BPG may not rely on section 713 of the Corporations Act (the special prospectus content rules for continuously quoted securities) for a 12-month period from 12 December 2018 to 12 December 2019. The directors of BPG are taking legal advice in relation to BPG's options with respect to the Infringement Notice and the Determination.

13/12/2018

The company releases the results of its meeting.

30/11/2018

The company lodges its Appendix 4C - monthly.

30/11/2018

As at the date of this statement, BPG has sold 15,599,300 BPX Tokens to selected private investors in Singapore and Australia. BPG has since become aware that the ASIC has concerns that the BPX Tokens may constitute interests in a managed investment scheme. BPG maintains the view that the BPX Tokens are not interests in a managed investment scheme or any other type of financial product for the purposes of Chapter 7 of the Corporations Act. In response to ASIC's concerns, BPG has at this stage: suspended the offer of the BPX Tokens in Australia; and sought further legal advice.

15/11/2018

The company releases a notice of AGM and explanatory memorandum. The meeting will be held on Friday 30 November 2018 at 3.00 pm (Brisbane time) at HWL Ebsworth Lawyers, Level 19, 480 Queen Street, Brisbane.

31/10/2018

The company lodges its Appendix 4C - monthly.

31/10/2018

The company lodges its Full Year Statutory Accounts.

01/10/2018

The company lodges its Appendix 4C - monthly.

28/09/2018

The company issues a response to ASX Query Letter.

05/09/2018

The company lodges its Preliminary Final Report.

03/09/2018

The company lodges its Appendix 4C - monthly.

31/08/2018

Under Listing Rule 17.6, any entity (if not already suspended) that has not paid its annual listing fees by close of business on Tuesday, 21 August 2018 will have its securities suspended from official quotation before the commencement of trading on Wednesday, 22 August 2018. The company has not paid its annual listing fees in respect of the year ending 30 June 2019 but the securities are already suspended from official quotation. In accordance with Listing Rule 16.5, entities that pay their annual listing fees after Tuesday, 21 August 2018 must pay by bank cheque only. Under Listing Rule 17.15, any entity that has not paid its annual listing fees as required by Listing Rule 16.5 by 5.00 pm AEST on Tuesday, 28 August 2018 will be removed from the Official List with effect from the close of trading on Tuesday, 28 August 2018.

22/08/2018

Following a scheduled ASX internal system change affecting the Market Announcements Platform, it has been necessary to re-apply the "˜Suspend' session state. This announcement serves to re-confirm the securities of this entity remain suspended.

06/08/2018

The company lodges its Appendix 4C - monthly.

31/07/2018

The company has received AUSTRAC registration approval as of today. Coinciding with this AUSTRAC approval, BPG intends to undertake a token generation event for the Byte Power X Loyalty Token. Byte Power X which is a fully owned subsidiary of Byte Power Pty Ltd, which in turn is a fully owned subsidiary of Byte Power Group Ltd. Byte Power X will own the Exchange. Byte Power X will initially focus on the cryptocurrency markets in Asia and Australia.

19/07/2018

The company lodges its Appendix 4C - monthly.

02/07/2018

Mr. Warwick Powell is concluding his consulting services that provide strategic support to Byte Power. Mr Powell's role will reach completion on 20th July 2018 being a one-month notice period to enable a smooth transition.

21/06/2018

The Company has received the 49 shares in Byte Power Pty Ltd that were previously acquired by Soar Labs, as such BPG now owns 100% of BPPL. As previously advised Soar Labs and the BPG Group are operating independently and are no longer affiliated. The Board of the Company have agreed with BPPL and Mr Alvin Phua that the 49 BPPL shares valued at US$5M, being the original consideration paid by Soar Labs in June 2017, will all be received by BPG.

08/06/2018

The company lodges an Appendix 4C - monthly.

31/05/2018

BPG, its subsidiary Byte Power Pty Mr Alvin Phua and Soar Labs Pte Ltd have reached an amicable settlement. In full and final settlement of the dispute and without any admission of liability, Soar Labs will transfer 49% of the shares in BPPL to BPG, pay an equivalent of US$1,700,000 and transfer 5,000,000 Soar coins to BPPL, BPG and Mr Alvin Phua. With the transfer of the 49% of the shares of BPPL currently held by Soar Labs to BPG, Soar Labs and the BPG Group are operating independently and are no longer affiliated. The previous Proprietary and Mareva Injunctions granted to BPG and BPPL dated 9 February 2018 will be discharged and the proceedings discontinued. The cash and digital currencies received from Soar Labs will be distributed to BPG, BPPL, and Mr Alvin Phua.

24/05/2018

The company lodges its Appendix 4C - monthly.

30/04/2018

BPPL's technology provider Noetic Synergy advises that all major trading platform features and functions have now been completed and are going through final stages of system testing. The last outstanding component - the integration of Know Your Client identity verification systems - is scheduled for implementation in the coming weeks. BPPL advises that the exchange will initially cater for the trading of eight (8) cryptocurrencies. The current shortlisted currencies are BTC (Bitcoin); BCH (Bitcoin cash); LTC (Litecoin); ETH (Ethereum); XRP (Ripple); ETC (Ethereum Classic); DASH (Dash); XMR (Monero). BPPL is also in the final stages of completing compliance requirements for AUSTRAC registration before submitting its registration application to AUSTRAC. Registration with AUSTRAC is a prerequisite for operating a cryptocurrency exchange in Australia.

30/04/2018

The company has secured an investor for A$1,000,000 pursuant to the Group's capital raising exercise. The investment is in the form of 100,000,000 Redeemable Convertible Notes at an issue price of AU$0.01 per Note. The Note Term is 3yrs and each Note accrues interest at 8% compounding daily, payable quarterly in arrears. The Group is in discussions with several parties who have expressed interest in subscribing for the Notes and expects to close the capital raising by the end of April. The funds raised will add to working capital as the Company moves towards the launch of its Cryptocurrency Exchange.

10/04/2018

On 13 March 2018, BPG received a Creditor's Statutory Demand from Konzept APS to pay USD717,550.36 or to secure or compound for USD717,550.36, to Konzept APS' reasonable satisfaction. Konzept APS has agreed to a payment plan with Byte Power Group Ltd. In accepting this payment plan Konzept APS has withdrawn the Creditor's Statutory Demand.

03/04/2018

The company lodges an Appendix 4C - monthly report.

03/04/2018

The company provides an update on the progress of the development of the Cryptocurrency Exchange currently being developed. The exchangae is being developed to initially support 8 cryptocurrencies and 2 fiat currencies. BPPL will formally begin AUSTRAC registration when relevant forms are made available on 3 April 2018.

27/03/2018

On 13 March 2018, BPG received a Creditor's Statutory Demand from Konzept APS to pay USD717,550.36 or to secure or compound for USD717,550.36, to Konzept APS' reasonable satisfaction. BPG is holding discussions with Konzept APS regarding the latter. On 26 March 2018, the Application filed by BPG on 26 February 2018 to pay the judgment by installments was dismissed with no order as to costs by consent from Konzept APS.

27/03/2018

Konzept APS has filed a claim and received summary judgement against BPG on 23 February 2018 for US$700,000 plus interest and costs. This summary judgement relates to payment for IT hardware products paid for by Konzept that were not delivered due to a delay in supply from Byte Power (Hong Kong) Ltd's IT hardware supplier. On the 26th February, BPG filed an application for an instalment order in the Supreme Court of Queensland to pay the judgement debt over 6 months. In a Court hearing held on the 12th March, the application for the instalment order was adjourned until the 26th March 2018.

13/03/2018

The company lodges its Half Yearly Report and Accounts.

01/03/2018

The company lodges an Appendix 4C.

01/03/2018

The suspension of the company's securities will continue as ASX remains unsatisfied with BPG's response to ASX's queries that it has referred this matter to the ASIC for investigation.

19/02/2018

The company issues a response to ASX Query Letter.

19/02/2018

The Company, its subsidiary, Byte Power Pty Ltd, and the CEO, Alvin Phua have commenced legal proceedings against Soar Labs in the High Court of the Republic of Singapore and, on 9 February 2018, have been granted Proprietary and Mareva injunctions freezing the assets of Soar Labs, including Soar Labs specific bank accounts and e-Wallet accounts. Among other things, this prevents Soar Labs from dealing with, transferring, encumbering, diminishing or otherwise disposing of the Soar coins, withdrawn by Soar Labs from the e-wallets of the Plaintiffs on 1 st January 2018.

12/02/2018

The company has entered into an agreement entitled "Heads of Agreement" with Synstream Energy. Synstream has advised the Company that it will not be proceeding with the signing of an Agreement with BPPL and therefore will not proceed with the payment of a $100,000 services fee.

05/02/2018

The company lodges its Appendix 4C - monthly report.

31/01/2018

The company issues a response to ASX aware letter.

10/01/2018

The company's subsidiary, Byte Power, has entered into a development and services agreement with Noetic Synergy to develop and manage its cryptocurrency exchange platform. Noetic replaces Soar Labs' candidature as BPPL's Cryptocurrency Exchange development solution provider.

10/01/2018

The company has been notified by Soar Labs that the current balance of 179,183,168 Soar Coins held by the Company and 34,602,426 Soar Coins held by a Director of the Company have been temporarily suspended based on a number of allegations which have been posted by Soar Labs on its website. The board is seeking legal advice on this matter and will revert to Soar Labs with an appropriate response. The company has also resolved to vigorously oppose the temporary suspension of the Soar Coins and to enforce BPG's rights.

04/01/2018

The company lodges its monthly report.

29/12/2017

The Board of Byte Power Group Ltd requests the immediate suspension of company's  securities  pursuant  to  Listing  Rule  17.2.    The  request  for  suspension  has  been made  due  to  the  ASX's  continued  review  of  the  application of both Listing Rules 11.1.2 and 11.1.3 as they apply to the Company. 

27/12/2017

The securities of Byte Power Group Limited will be suspended from quotation immediately, at the request of the Company, pending ASX Limited's consideration of the application of Listing Rules 11.1.2 and 11.1.3 to the Company's activities.

22/12/2017

The suspension of trading in the securities of Byte Power Group Limited will be lifted immediately, following receipt of a response to the ASX Query Letter dated 9 November 2017.

13/11/2017

The company issues a response to ASX query letter.

13/11/2017

The securities of Byte Power Group Limited will be suspended from quotation immediately, in accordance with Listing Rule 17.3, pending further enquiries from ASX.

08/11/2017

the suspension of trading in the securities of Byte Power Group Limited (the "Company") will be lifted immediately in accordance with listing rule 17.8, following lodgement of the Company's Half Year Report for the period ended 31 December 2009 and receipt of additional disclosure in respect of this document

02/03/2010

securities suspended from quotation following failure to lodge Half Year Accounts for the period ended 31 December 2010

01/03/2010

name changed from Willhart Limited

02/07/2003

ASX Announcements (courtesy of ASX)

 

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    Directors' on-market share transactions (last 5)

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    Purchases Sales

    DATEDIRECTORNATURENUMBERPRICEAMOUNT
    13/03/2013Alvin PhuaOn market1,049,398$0.003$3,148
    04/03/2013Alvin PhuaOn market1,950,602$0.003$5,852

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Alvin PhuaChairman, Managing Director04/12/2002
    Yano LimIndependent Director09/11/2015
    Michael WeeIndependent Director18/12/2017
    William YuenNon Exec Director15/03/2019

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Raphael ThamNon Exec Director07/06/200406/03/2019
    Howard ShiIndependent Director05/07/201319/10/2016
    Marc HigginsExecutive Director09/12/201328/05/2014
    Michael WalshNon Exec Director03/09/200705/07/2013
    Peter LowDirector25/03/200403/09/2007

    Date of first appointment, title may have changed.