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LATAM AUTOS LIMITED (LAA)

Delisted from ASX 08/05/2020

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Former (or subsequent) names

 

Shareholder links

Our website ranking of LAA: rating 1
(1 out of 5)
COMPANY WEBSITE:

 

REGISTRY:
Boardroom Pty Ltd, Level 12, 225 George Street, Sydney NSW 2000
Tel : +61 2 9290 9600 or 1300 737 760
Fax : +61 2 9279 0664 or 1300 653 459
RegistryWebsite RegistryEmail

Company details

ISIN: AU000000LAA0
Address: Level 4, 100 Albert Road South Melbourne VIC 3205
Tel:  (+61) 3 9692 7222 Fax: 

Date first listed: 17/12/2014
Company Secretary: Melanie Leydin
Sector: Software & Services
Industry Group: XIJ
Activities: 

delisted from the close of trading on Friday, 8 May 2020, pursuant to Listing Rule 17.11.

08/05/2020

we understand the company delisted from ASX because its securities were trading at an undervalue and at an historic low, it was a highly illiquid stock, there was limited shareholder interest or support and the significant administrative costs associated with the ASX listing

08/05/2020

The securities of LatAm Autos Limited will be suspended at the request of LAA, at the close of trading today, Tuesday, 5 May 2020. LAA will be removed from the Official List of ASX in accordance with Listing Rule 17.11, following completion of certain conditions precedent as referred to in LAA's market release of 26 February 2020, titled "˜LatAm Announces Voluntary De-Listing from ASX' at the close of trading on Friday, 8 May 2020.

05/05/2020

minimum holding buy-back of unmarketable parcels announced to the market on 26 February 2020 has been completed, with a total of 4,459,243 fully paid ordinary shares in the Company having been bought back at a price of $0.03

15/04/2020

The suspension of trading in the securities of LatAm Autos Limited will be lifted immediately, following the release by LAA of an announcement regarding a corporate restructure, which includes a proposed delisting from ASX, and a proposed capital raising.

26/02/2020

The company releases a notification of Proposed issue of Securities - LAA.

26/02/2020

LAA has applied to ASX for removal from the ASX official list. Unanimous view of the Board that a corporate restructure and de-listing of LAA is in the best interests of shareholders. ASX has granted approval for de-listing subject to certain conditions, including shareholder approval to be obtained at a general meeting of LAA to be held on 31 March 2020. LAA to undertake a minimum holding buy-back of unmarketable parcels of shares to enable smaller shareholders to exit the register, subject to LAA shareholder approval of the de-listing. LAA also intends to undertake a pro-rata non-renounceable rights offer to raise up to around $5 million to fund the minimum holding share buy-back, de-listing process and for general corporate purposes (including restructuring costs) if the de-listing is approved by LAA shareholders. LAA has received commitments from existing investors to support the proposed rights offer conditional on shareholder approval of the de-listing. Share buy-back and rights offer to be undertaken at a price of 3.0 cents per LAA share which represents a 25% premium to the last closing sale price of LAA shares and a 9.2% premium to the 1-month volume weighted average price of LAA shares traded on ASX.

26/02/2020

The company now expects to make an announcement to the market in relation to the company's corporate restructure and capital raising by Thursday, 27 February 2020, and confirms its request that the suspension continue until the announcement is made.

25/02/2020

The company now expects to make an announcement to the market in relation to the corporate restructure and capital raising before the commencement of trading on Tuesday, 25 February 2020, and confirms its request that the suspension continue until the announcement is made.

18/02/2020

The following performance rights have lapsed: LAAAD - 1,416,667 "“ 2016 Unlisted performance rights.

07/02/2020

The securities of LatAm Autos Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of LAA, pending the release of an announcement regarding a corporate restructure and capital raising.

03/02/2020

The suspension of trading in the securities of LatAm Autos Limited will be lifted immediately, following the release by LAA of an announcement regarding a capital raising.

14/06/2019

The company provides an update with the following highlights: significant strengthening of the balance sheet; equity raising of up to $10 million; a restructure of the outstanding convertible notes, subject to shareholder approval including subscription to equity by noteholders to reduce convertible loan balance by $3.1 million; all directors, senior management and Perennial Value Management participating in capital raising; and addition of two highly experienced Non-Executive Directors.

14/06/2019

The securities of LatAm Autos Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of LAA, pending the release of an announcement regarding a capital raising.

06/06/2019

The securities of Latam Autos Limited will be reinstated to quotation as from commencement of trading on Tuesday, 18 April 2017, following release by the Company of its 31 December 2016 year end accounts.

13/04/2017

The company releases its Appendix 4G and 2016 Corporate Governance Statement.

13/04/2017

The company lodges its Full Year Statutory Accounts 2016.

13/04/2017

The company releases a presentation in relation to the company update.

13/04/2017

The company provides an update. The A$10m fully underwritten convertible note issuance will underpin path to breakeven. Strategic review has been concluded to focus on Mexican and Ecuadorean markets. The company will fast track to breakeven in 2H 2018. Rotschild is retained as corporate advisor to assess ongoing strategic opportunities.

13/04/2017

Notice is given that the Annual General Meeting of Members of LatAm Autos Limited will be held at Chartered Accountants Australia and New Zealand, Level 18, 600 Bourke Street, Melbourne Victoria 3000 at 11.00 am (AEST) on Wednesday 10 May 2017.

10/04/2017

The company issues a response to Appendix 4C Query.

04/04/2017

The company will not be in a position to lodge its Financial Report for the year ended 31 December 2016 by the reporting deadline of 31 March 2017. This has been due largely to the Company reviewing funding opportunities and proposals from strategic parties. The Company expects to release the 2016 Annual Report together with a Full Market Update by 7 April 2017 at which time we will work with the ASX to lift the current suspension.

31/03/2017

The company lodges its Full Year Results - Media Release.

27/02/2017

The company lodges its Preliminary Final Report - Appendix 4E.

27/02/2017

The company has received a number of proposals from strategic parties interested in acquiring selected country specific operations of LatAm Autos. The company is currently progressing these discussions and evaluating them as an alternative to an equity raising and will update the market of any material developments. The company will remain in ASX suspension until such time.

24/02/2017

The company and Rothschild continue to evaluate potential alternatives to the proposed equity raising. The company is still reviewing these potential opportunities and following the conclusion of this review, the company will provide a full market update. The company will keep shareholders informed of any further developments at the appropriate time.

14/02/2017

The securities of LatAm Autos Limited will be suspended from quotation immediately, at the request of the Company, pending the release of an announcement by the Company.

02/02/2017

listed entity carried for record purposes only

18/12/2014

ASX Announcements (courtesy of ASX)

 

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    Directors' on-market share transactions (last 5)

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    Purchases Sales

    DATEDIRECTORNATURENUMBERPRICEAMOUNT
    21/04/2017Gareth Bannan450,000$0.112$50,528
    07/06/2016Simon ClausenOn market184,573$0.290$53,407
    15/04/2016Simon ClausenOn market166,229$0.250$41,552
    06/04/2016Simon ClausenOn market149,198$0.250$37,300
    18/03/2016Colin GalbraithOn market86,500$0.255$22,058

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Timothy HandleyExecutive Chairman17/12/2014
    Michael FitzpatrickDeputy CEO01/11/2014
    Gareth BannanCFO, Alternate Director17/12/2014
    Jorge RibadeneiraExecutive Director, CEO17/12/2014
    Simon ClausenDirector01/11/2014
    Cameron GriffinAlternate Director31/03/2015

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Colin GalbraithNon Exec Director21/11/201421/05/2019

    Date of first appointment, title may have changed.