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GREATCELL SOLAR LIMITED (GSL)

Delisted from ASX 28/08/2019

SHARE PRICES

(updated at weekends)
2017 2018   ALL

Former (or subsequent) names

 FROMTO
GREATCELL SOLAR LIMITED26/06/2017
DYESOL LIMITED26/06/2017

Shareholder links

 

REGISTRY:
Computershare, Level 11, 172 St Georges Terrace, Perth WA 6000
Tel : +61 (0)3 9415 4000 or 1300 850 505 (within Australia)
Fax : +61 3 9473 2500
RegistryWebsite RegistryEmail

Company details

Address: 3 Dominion Place, QUEANBEYAN, NSW, AUSTRALIA, 2620
Tel:  (02) 6299 1592 Fax: (02) 6299 1698

Date first listed: 31/08/2005
Company Secretary: Kim Hogg
Sector: Semiconductors & Semiconductor Equipment
Industry Group: XIJ
Activities: Commercialisation of Perovskite Solar Cell (PSC) technology
OFX Transferring Money Internationally to Free

a loss declaration has been issued and the capital loss can therefore be claimed in the financial year the declaration is issued - in this case 2019/20

06/09/2019

delisted from the close of trading on Wednesday, 28 August 2019 pursuant to Listing rule 17.15.

28/08/2019

we understand this company failed to pay its annual listing fee on due date and ASX has accordingly removed it from the official list

28/08/2019

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

Peter Krejci and Andrew Cummins of BRI Ferrier appointed liquidators

16/08/2019

The company's directors regretfully advise that the decision was taken yesterday to appoint administrators to the Greatcell Solar group of companies following sustained, but ultimately unsuccessful, attempts to secure re-financing for its activities. Greatcell Solar Limited, Greatcell Solar Industries Pty Ltd and Greatcell Solar Australia Pty Ltd were placed into voluntary administration. The decision follows a series of unfortunate and unwelcome developments in recent weeks, including the untimely death of Chief Scientist, Dr Hans Desilvestro in a mountaineering accident on 10 November. With the appointment of Administrators, BRI Ferrier, the outlook for shareholders is uncertain at best.

11/12/2018

Peter Krejci and Andrew Cummins of BRI Ferrier appointed administrators

10/12/2018

Agreement has been reached with the Australian Renewable Energy Agency on variations to the funding agreement entered into on 11 December 2017, which will result in a payment of $425,000 to Greatcell in the next week. This milestone-based payment increases the grant payments made by ARENA to date to approximately $575,000, with a further $5.425 million remaining payable as the Project advances. New Moonie Petroleum Pty Ltd has agreed to acquire the $2.4 million convertible note entered into in late 2017 by Shairco and will shortly make the first of 4 equal payments of $600,000 to occur over the next 12 months. In relation to the sale of the Company's material production assets, the second tranche of $200,000 was paid in October 2018, and the new company is uninterrupted in its operation with pleasing sales growth. GSL has retained a 50% ownership interest. Due to the late preparation of its FY2018 accounts and the mandatory audit, the Greatcell Solar Limited AGM is now expected to occur in February 2019.

22/11/2018

The board of directors does not intend to lodge with ASX unaudited full year accounts for FY2018 which are due today. The Company now intends to lodge audited full year accounts for FY2018 subsequent to its refinancing and prior to seeking ASX relisting. Greatcell Solar is currently negotiating refinancing options as previously advised and remains positive about its prospects. Regular updates will be provided to its shareholders no later than on a fortnightly basis.

31/08/2018

Today, GSL has agreed to sell 50 per cent of its materials production assets to Dr Yanek Hebting, the current GSL production manager who has served in that role for over ten years. The deal anticipates a future 100 per cent transfer of the production assets upon the completion of a set of cash payments totalling A$1 million by 30 September 2019 and additional payments for FY2020 and FY2021 based on future earnings. The agreed payment schedule is: $300,000 (27/8/18), $200,000 (30/9/18), $500,000 (30/9/19), 1/3 EBITDA FY2020 (30/9/20), 1/3 EBITDA FY2021 (30/9/21).

28/08/2018

The Company has activated its contingency plans and withdrawn from negotiations with the CER Grup in Turkey because they have failed to reach agreement on critical terms for investment in an acceptable timeframe. New Moonie Petroleum is one of the potential investment counterparties. There is in-principle agreement to invest up to $US10 million. The company also had new investment enquiries from China, India and Thailand, and they are pursuing them with vigour.

15/08/2018

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 June 2018 Quarterly Report and Appendix 4C.

01/08/2018

CER Grup has informed Greatcell Solar that the only remaining impediment to completion of the formal subscription to 10% of the Company's shares and related transactions is Turkish government approval of the US$8 million funds transfer.

20/07/2018

Progress has continued on the refinancing efforts although none have reached completion. The delays are largely attributable to regulatory requirements, both in Australia and internationally. The transactions are being facilitated by international law firm, Herbert Smith Freehills. Finalisation should occur in the near future. Greatcell Solar continues to operate as usual in the successful execution of its commercialisation plans for its world-class 3rd generation PV technology.

06/07/2018

The company is nearing completion of the financing of its continuing operations, including the establishment of a world-class prototype facility, and expects to complete a US$8 million capital raising and associated equipment supply and technology transfer agreement in the next 10 to 15 business days. Critical to the Company's business plan is the intention to form a commercialisation joint-venture in Turkey with local industry to service the country's burgeoning demand for renewable energy generation. The commercialisation rights will involve a significant share of the global market place. The Turkish government has been apprised of the proposal and has indicated its strong interest to offer considerable financial assistance to the local operating entity, conditional upon meeting technology scale-up milestones.

13/06/2018

The company lodges its March 2018 Quarterly Report and Appendix 4C.

01/05/2018

The company releases an Investor Presentation - April 2018.

11/04/2018

The company has been awarded €500,000 in a European Union Horizon 2020 project known as H2020-SGA-FET-GRAPHENE. The successful grant to Greatcell's application has occurred through its 100% Italian subsidiary, Greatcell Solar Italy, located in Rome.

10/04/2018

The company issues a response to ASX Query.

06/04/2018

Greatcell is currently continuing to evaluate various funding options in close consultation with a number of government agencies, in Australia and overseas, as well as its key stakeholders. The principal purpose for the funding will be to finance the operating and capital expenditure associated with the establishment and operation of a Major Area Demonstration Prototype facility co-located at CSIRO in Clayton, Victoria. While funding discussions are progressing, they remain incomplete and are ongoing. Greatcell wishes to raise the requisite capital as promptly as is practicable. It is likely to take up to 4 weeks for negotiations to be completed and documentation finalised.

08/03/2018

The securities of Greatcell Solar Limited will be suspended from official quotation immediately, at the request of the Company pursuant to listing rule 17.2, pending the release of an announcement regarding its financial position and fund raising negotiations.

01/03/2018

name changed from Dyesol Ltd

26/06/2017

ASX Announcements (courtesy of ASX)

 

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    Directors' on-market share transactions (last 5)

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    Purchases Sales

    DATEDIRECTORNATURENUMBERPRICEAMOUNT
    11/09/2017Richard Caldwell200,000$0.182$36,500
    01/09/2017Richard Caldwell166,667$0.183$30,517
    07/08/2017Richard Caldwell412,062$0.187$76,891
    28/12/2016Richard Caldwell262,674$0.222$58,287
    09/12/2016Richard Caldwell120,455$0.220$26,440

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Ian NealNon Exec Chairman08/09/2006
    Richard CaldwellManaging Director18/03/2005
    Kian NiuCFO10/05/2009
    Gerald Grove-WhiteNon Exec Director10/08/2011
    Gordon ThompsonNon Exec Director09/11/2004
    Rob McIntyreNon Exec Director13/03/2015

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Lynette McDonaldNon Exec Director26/03/201511/11/2016
    Tony ShirfanAlternate Director02/05/201411/11/2016
    Nicola SwiftNon Exec Director06/09/201303/08/2016
    Sylvia TullochNon Exec Director11/03/200530/11/2012
    Ian BergmanAlternate Director22/11/201230/11/2012
    Gavin TullochNon Exec Director26/10/201007/09/2012

    Date of first appointment, title may have changed.