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10 December 2024
| Name: | LATAM AUTOS LIMITED (LAA) |
| ISIN: | AU000000LAA0 |
| Date of Listing: | 17 December 2014 |
| Date of Delisting: | 08 May 2020 |
Stock Exchange Status:
This entity was delisted from the Australian Securities Exchange on 08 May 2020.Legal Status:
ACN: 169 063 414ABN: 12 169 063 414
Registration Date: 11 April 2014
Capital Gains Tax (CGT) Status:
The securities in this entity, in our opinion, are of little or no value. We have made that assessment by reference to the circumstances leading to a suspension and/or delisting, the length of a suspension, share trading history and last on-market share price, most recent financial and cash flow statements, prospects (including likelihood of re-financing), and other factors including in particular whether the entity is in external administration. If you are seeking to crystallise a capital loss on your securities, that process can be easily and quickly initiated at our online Worthless Shares facility here: https://www.delisted.com.au/sell-worthless-and-other-securities/.
Updates, corrections, disagreements please email to admin@delisted.com.au
Further information: deListed and InvestoGain are operated by Investogain Pty Limited which is licensed by ASIC as an Australian Financial Services Licensee (AFSL 334036). deListed acquires only securities that it deems to be of little or no value, in circumstances where the holder is unable to sell their securities on-market in the normal manner. This service has been provided online via the company’s website www.delisted.com.au since 2004.
Getting advice: Information provided in this section is of a general nature and applicable only to Australian tax residents who hold their investments on capital account (ie for long-term investment purposes). It has been prepared without taking into account your financial needs or tax situation. Before acting on the information, deListed suggests that you consider whether it is appropriate for your circumstances and recommends that you seek independent legal, financial, or taxation advice.
Disclaimer: The information provided above is to the best of our knowledge accurate as of today. But you should bear in mind that it is of a general nature and does not constitute financial or tax advice. Investogain Pty Limited accepts no liability for any loss arising from reliance on this information, including reliance on information that is no longer current.
REGISTRY:
Boardroom Pty Ltd
Level 8, 210 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
Shareholders in this company should consider crystallising a capital loss in 2024/25 by selling their shares. This process is now much easier and quicker. It can be achieved online by entering transaction details here. While, this usually makes good economic sense we recommend you seek professional advice before buying or selling securities, your accountant is probably the best person. | 10/07/2024 |
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 |
Shareholders in this company should consider crystallising a capital loss in 2024/25 by selling their shares. This process is now much easier and quicker. It can be achieved online by entering transaction details here. While, this usually makes good economic sense we recommend you seek professional advice before buying or selling securities, your accountant is probably the best person. | 10/07/2024 |
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 |
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Purchases Sales
| DATE | DIRECTOR | NATURE | NUMBER | PRICE | AMOUNT |
|---|---|---|---|---|---|
| 21/04/2017 | Gareth Bannan | 450,000 | $0.112 | $50,528 | |
| 07/06/2016 | Simon Clausen | On market | 184,573 | $0.290 | $53,407 |
| 15/04/2016 | Simon Clausen | On market | 166,229 | $0.250 | $41,552 |
| 06/04/2016 | Simon Clausen | On market | 149,198 | $0.250 | $37,300 |
| 18/03/2016 | Colin Galbraith | On market | 86,500 | $0.255 | $22,058 |
| NAME | TITLE | DATE OF APPT |
|---|---|---|
| Timothy Handley | Executive Chairman | 17/12/2014 |
| Michael Fitzpatrick | Deputy CEO | 01/11/2014 |
| Gareth Bannan | CFO, Alternate Director | 17/12/2014 |
| Jorge Ribadeneira | Executive Director, CEO | 17/12/2014 |
| Simon Clausen | Director | 01/11/2014 |
| Cameron Griffin | Alternate Director | 31/03/2015 |
| Melanie Leydin | Company Secretary |
Date of first appointment, title may have changed.
| NAME | TITLE | DATE OF APPOINTMENT | DATE OF RESIGNATION |
|---|---|---|---|
| Colin Galbraith | Non Exec Director | 21/11/2014 | 21/05/2019 |
Date of first appointment, title may have changed.
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