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06 October 2024
Name: | MIGHTY CRAFT LIMITED (MCL) | ||||||
ISIN: | AU0000067639 | ||||||
Date of Listing: | 17 December 2019 | ||||||
Date of Delisting: | 29 August 2024 | ||||||
Former Names: |
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Stock Exchange Status:
This entity was delisted from the Australian Securities Exchange on 29 August 2024.Legal Status:
This entity was placed in administration or receivership on 22 July 2024. It may currently be in administration and/or receivership or it may be subject to a deed of company arrangement.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.
Company | FROM | TO |
---|---|---|
MIGHTY CRAFT LIMITED | 11/11/2020 | |
FOUNDERS FIRST LIMITED | 11/11/2020 |
REGISTRY:
Computershare Melbourne
Yarra Falls, 452 Johnston Street, Abbotsford VIC 3067
Tel : +61 (0)3 9415 4000 or 1300 850 505 (within Australia)
Fax : +61 3 9473 2500
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. | 30/08/2024 |
delisted for non-payment of annual listing fee under Listing Rule 17.15 | 29/08/2024 |
we understand the company failed to pay to ASX Limited the annual listing fees for the year ending 30 June 2025 | 29/08/2024 |
The second meeting of creditors of the Company was held on Monday, 26 August 2024 along with second meetings of creditors of the other Companies. At that meeting, creditors of the Company resolved that the Company execute a Deed of Company proposed by Pure Asset Management. The DOCA for the Company proposes a compromise of the liabilities of the Company to its creditors. The Administrators are working to finalise the DOCA and related ancillary transaction documents. | 28/08/2024 |
Under Listing Rule 17.6, an entity (if not already suspended) that had not paid its annual listing fees by close of business on Wednesday, 21 August 2024 would have its securities suspended from Official Quotation before the commencement of trading on Thursday, 22 August 2024. The Company has failed to pay to ASX the annual listing fees for the year ending 30 June 2025, and each entity's securities are already suspended from quotation. | 22/08/2024 |
The Administrators give notice that they intend to rely on the relief set out in ASIC Corporations (Externally-Administered Bodies) Instrument 2015/251 which provides for the deferral of: financial reporting obligations under Part 2M.3 of the Corporations Act 2001 (Cth) (Act); and requirement under section 250N of the Act to hold an Annual General Meeting. | 30/07/2024 |
Liam Healey and Quentin Olde of specialist restructuring firm Ankura were appointed as Joint and Several Administrators of the Company. | 22/07/2024 |
The securities of Mighty Craft Limited will be suspended from quotation immediately under Listing Rule 17.3, having regard to the announcement today of the appointment of voluntary administrators of MCL and its subsidiaries. The securities will remain suspended until such time that ASX is satisfied with MCL's compliance with the Listing Rules and that it is otherwise appropriate for MCL's securities to be reinstated to quotation. | 21/07/2024 |
The suspension of trading in the securities of Mighty Craft Limited will be lifted immediately following the release by MCL of an announcement regarding a proposed capital raising via a placement to institutional and sophisticated investors. | 23/03/2023 |
Mighty Craft receives firm commitments to raise approximately $5.2 million via a placement of approximately 35.9 million new shares to sophisticated and institutional investors. New shares under the placement will be issued at a price of 14.5 cents per share. Funds raised will be primarily used to accelerate the growth of the Company's spirits portfolio, gear up to support the acceleration of Better Beer from a sales and distribution perspective and strengthen the balance sheet. | 23/03/2023 |
The securities of Mighty Craft Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of MCL, pending the release of an announcement regarding a proposed capital raising. | 22/03/2023 |
name changed from Founders First Limited | 11/11/2020 |
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. | 30/08/2024 |
delisted for non-payment of annual listing fee under Listing Rule 17.15 | 29/08/2024 |
we understand the company failed to pay to ASX Limited the annual listing fees for the year ending 30 June 2025 | 29/08/2024 |
The second meeting of creditors of the Company was held on Monday, 26 August 2024 along with second meetings of creditors of the other Companies. At that meeting, creditors of the Company resolved that the Company execute a Deed of Company proposed by Pure Asset Management. The DOCA for the Company proposes a compromise of the liabilities of the Company to its creditors. The Administrators are working to finalise the DOCA and related ancillary transaction documents. | 28/08/2024 |
Under Listing Rule 17.6, an entity (if not already suspended) that had not paid its annual listing fees by close of business on Wednesday, 21 August 2024 would have its securities suspended from Official Quotation before the commencement of trading on Thursday, 22 August 2024. The Company has failed to pay to ASX the annual listing fees for the year ending 30 June 2025, and each entity's securities are already suspended from quotation. | 22/08/2024 |
The Administrators give notice that they intend to rely on the relief set out in ASIC Corporations (Externally-Administered Bodies) Instrument 2015/251 which provides for the deferral of: financial reporting obligations under Part 2M.3 of the Corporations Act 2001 (Cth) (Act); and requirement under section 250N of the Act to hold an Annual General Meeting. | 30/07/2024 |
Liam Healey and Quentin Olde of specialist restructuring firm Ankura were appointed as Joint and Several Administrators of the Company. | 22/07/2024 |
The securities of Mighty Craft Limited will be suspended from quotation immediately under Listing Rule 17.3, having regard to the announcement today of the appointment of voluntary administrators of MCL and its subsidiaries. The securities will remain suspended until such time that ASX is satisfied with MCL's compliance with the Listing Rules and that it is otherwise appropriate for MCL's securities to be reinstated to quotation. | 21/07/2024 |
The suspension of trading in the securities of Mighty Craft Limited will be lifted immediately following the release by MCL of an announcement regarding a proposed capital raising via a placement to institutional and sophisticated investors. | 23/03/2023 |
Mighty Craft receives firm commitments to raise approximately $5.2 million via a placement of approximately 35.9 million new shares to sophisticated and institutional investors. New shares under the placement will be issued at a price of 14.5 cents per share. Funds raised will be primarily used to accelerate the growth of the Company's spirits portfolio, gear up to support the acceleration of Better Beer from a sales and distribution perspective and strengthen the balance sheet. | 23/03/2023 |
The securities of Mighty Craft Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of MCL, pending the release of an announcement regarding a proposed capital raising. | 22/03/2023 |
name changed from Founders First Limited | 11/11/2020 |
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DATE | DIRECTOR | NATURE | NUMBER | PRICE | AMOUNT |
---|---|---|---|---|---|
24/03/2023 | John Hood | 200,000 | $0.183 | $36,523 | |
24/03/2023 | Mark Haysman | 84,445 | $0.157 | $13,294 | |
25/11/2022 | Mark Haysman | 45,000 | $0.195 | $8,775 | |
10/11/2022 | Sean Ebert | 50,000 | $0.223 | $11,125 | |
01/11/2022 | John Hood | 30,000 | $0.200 | $6,000 |
NAME | TITLE | DATE OF APPT |
---|---|---|
Grant Peck | Executive Chairman | 27/11/2023 |
Jessica Lyons | Interim CEO | 03/07/2023 |
Charly Duffy | Company Secretary | |
Ben Malone | Company Secretary |
Date of first appointment, title may have changed.
NAME | TITLE | DATE OF APPOINTMENT | DATE OF RESIGNATION |
---|---|---|---|
Sean Ebert | Director | 19/07/2021 | 20/07/2024 |
Katie McNamara | Director | 17/04/2023 | 12/07/2024 |
Christopher Malcolm | Non Exec Chairman | 25/05/2023 | 14/11/2023 |
Trevor O'Hoy | Non Exec Director | 17/04/2023 | 25/08/2023 |
Mark Haysman | Managing Director, CEO | 19/11/2018 | 03/07/2023 |
Stuart Morton | Finance Director | 13/11/2017 | 01/07/2023 |
Daniel Wales | Non Exec Director | 30/06/2023 | |
John Hood | Chairman | 02/02/2018 | 25/05/2023 |
Robin Levison | Non Exec Chairman | 02/02/2018 | 21/11/2022 |
Date of first appointment, title may have changed.
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