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ODIN ENERGY LIMITED (ODN)

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(updated at weekends)

Former (or subsequent) names

 

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

 

REGISTRY:
Advanced Share Registry Services, 110 Stirling Hwy, Nedlands WA 6009
Tel : +61 8 9389 8033
Fax : +61 8 9262 3723
RegistryWebsite RegistryEmail

Company details

Address: Suite 4, 16 Ord Street, WEST PERTH, WA, AUSTRALIA, 6005
Tel:  08 9429 2900 Fax: (08) 9486 1011

Date first listed: 05/09/2007
Company Secretary: Mr Roland Berzins
Sector: Energy
Industry Group: XEJ
Activities: Exploration for oil and gas
OFX Transferring Money Internationally to Free

Shareholders in this company should consider crystallising a capital loss in 2020/21 by selling their worthless shares, which they can achieve 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.

13/08/2020

delisted from the commencement of trading on Monday, 22 July 2019 pursuant to Listing rule 17.12.

22/07/2019

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

22/07/2019

The company has been unable to raise sufficient funding and subsequently unable to meet the requirements for re-listing on the ASX, the consequence is that it will automatically be delisted on 22 July 2019. ODN is continuing to proactively undertake a review of several additional acquisition opportunities and should suitable projects be secured, it plans to proceed with the refunding of the company and seek re-listing of its securities on the exchange in the future.

19/07/2019

The company lodges its 30 June 2018 half year Accounts.

31/05/2019

gridComm h as continued to supply a relatively small amount of lighting installation units to the City of Jakarta. Trials in several locations in the region have continued but with no further contracts finalised to date. There are no current plans to raise further capital for gridComm until there is a signifiant improvement in teh gridComm revenue base and contract supply.

19/03/2019

The board of Odin Energy Limited has continued to work with gridComm Pte Ltd of Singapore to progress the proposed RTO as announced previously. Both gridComm and Odin have been promoting the gridComm business in anticipation of further pre-RTO fund raising to finance the completion of the major capital raising. gridComm continues to carry out trials in different locations and are awaiting some signed orders, in addition to the Djakarta project already announced. The board of Odin has also been trying to source similar projects to add to the scale of the proposed listed company. The directors of Odin have continued to fund the overheads of the Company personally, in order to keep up with statutory requirements.

31/12/2018

In the Company's recently published financial report for the year ended 31 December 2017 it was stated incorrectly in the Related Party Transactions note (note 17) that AAG Management Pty Ltd was a related party of Alex Bajada. This is incorrect, as Mr Bajada has no direct or indirect shareholding in AAG, nor is he an officer. GCP Capital Pty Ltd does not own AAG. Please note that following this clarification, the auditor, Greenwich and Co., have confirmed that their opinion as outlined in the Annual Report remains unchanged.

03/12/2018

The company lodges its Financial Report 31 Dec 2017.

28/11/2018

The company lodges its Interim Financial report Half year 30 June 2017.

28/11/2018

The company lodges its Financial report year ended 31 Dec 2016.

28/11/2018

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

gridComm appointed Hong Kong-based lighting leader, eSpot to manufacture and sell gridComm DPS into gridComm based smart street light deployments.

18/05/2018

In the company's recent with gridComm's management, both parties have agreed to proceed with the RTO process which has been continuing over the past 18 months.

08/03/2018

There has been relatively slow finalisation of contracts to improve cash flow. The Jakarta street light joint venture with Siklon continues to be rolled out, with an expectation of further orders by midyear 2018.The boards of gridComm and Odin are committed to continuing the process of the RTO through ODN. The delays experienced by both companies are mainly due to the expectation of converting several of the key trials to commercialisation, thereby demonstrating market support and cash flow for our vital technology.

12/01/2018

The company is progressing with the drafting of the notice of shareholders meeting with respect to the RTO with gridComm. Delays have occurred mainly due to changing events in a number of projects and joint ventures. Odin has partnered with the Somerset Group in South Africa to commence trials in Swaziland, Pretoria, Johannesburg, Cape Town and Rwanda. Odin has continued its marketing activities in Australia and in Asia. ASX listing fees for the coming year have been paid. Odin's company securities will remain suspended from trading on the ASX until it issues a new prospectus and will also need to re-comply with Chapters 1 and 2 of the listing rules.

30/08/2017

Under listing rule 17.6, any entity (if not already suspended) that had not paid its annual listing fees by close of business on Monday 21 August 2017 will have its securities suspended from official quotation before the commencement of trading on Tuesday 22 August 2017. The company has failed to pay to ASX Limited the annual listing fees in respect of the year ending 30 June 2018 and consequently will have its securities suspended from quotation immediately.

22/08/2017

The company has chosen to withdraw the original prospectus dated 12 October 2016, the supplementary prospectus dated 12 December 2016 and the second supplementary prospectus dated 10 March 2017. The board has renegotiated a new MoU agreement with gridComm. Odin and gridComm have executed the new MoU with a capital structure that fully excludes 110 million performance shares. Odin and gridComm are terminating the original Share Sale Agreement. Odin will proceed to a general meeting to allow shareholders to consider and approve the new capital structure. Following this, the two companies will enter into a new SSA.

06/06/2017

The company is continuing discussions with gridComm in relation to the share sale agreement. Accordingly, the company advises that the closing date for the public offer has been extended to 5.00pm (WST) on Tuesday, 6 June 2017, subject to the right of the company to close the public offer early.

23/05/2017

The company releases a second supplementary prospectus which is supplementary to the replacement prospectus lodged with ASIC on 12 October 2016 and the first supplementary prospectus dated 12 December 2016 and must be read with them.

10/03/2017

The company is continuing discussions with gridComm regarding the extension of the share sale agreement. Also, the closing date for the public ofer has been extended to 5.00pm (WST) on Friday 10 March 2017, subject to the right of the company to close the public offer early or to further extend the closing date.

27/02/2017

The company lodges its Quarterly Activities and Cashflow Report.

31/01/2017

The Board of Directors advise that it is negotiating the extension of the Share Sale Agreement, signed with gridComm Pte Limited on 13 January 2016, and will continue to keep the market informed on the completion of those negotiations. With respect to the continuing gridComm operational activity, further trials have commenced in Australia, southern Africa, Singapore, Indonesia and India.

24/01/2017

The company issues a supplementary prospectus to the replacement prospectus lodged with ASIC on 12 October 2016 and must be read together with the replacement prospectus.

13/12/2016

The company is extending the public offer detailed in the prospectus and replacement prospectus previously released r to provide sufficient time for all funds to be transferred into the Offer Account and to enable reconciliation of all subscriptions. The Company is also engaged in negotiating a cornerstone investment with several institutions.

30/11/2016

The Company wishes to advise that it has received a waiver from Listing Rule 14.7 allowing it to issue securities more than 3 months after the shareholder meeting held to approve the issue of the securities on 30 August 2016. The waiver has extended the issue date by one month to 30 December 2016

18/11/2016

The company is extending the public offer to provide sufficient time for all funds to be transferred into the other account and to enable reconciliation of all subscriptions. .The closing date for the public offer has now been extended to 5:00pm (WST) on 2 December 2016, subject to the right of the company to close the public offer early or to further extend the closing date.

15/11/2016

The company lodges its Quarterly Activities Report and Cashflow.

28/10/2016

Reference is made to the market announcement on 23rd September 2016 in which the directors of Odin Energy Ltd advised the issue by the ASIC of an interim stop order. The Company now confirms that the ISO has today been revoked. The company releases a replacement prospectus which replaces the original prospectus dated 12 September 2016.

13/10/2016

At the time of the 22nd July 2016 announcement 94% of gridComm's shareholders had executed the Variation Deeds. The Company is pleased to announce that the remaining gridComm shareholder has now executed and the Company can move to complete the acquisition of 100% of gridComm. The Company hopes to complete, and release, a supplementary prospectus soon which will incorporate, inter alia, this change. Further information can also be found in the Company's prospectus dated 12 September 2016.

04/10/2016

On 23 September 2016, the ASIC has issued an interim stop order in respect of the Prospectus dated 12 September 2016. The Company is working with ASIC to address issues raised in relation to the Prospectus, with a view of resolving them as soon as possible and will keep the market informed accordingly. While the interim order remains in place, the Company will make no offers, issues, sales or transfers of securities under the Prospectus. The directors of the Company wish to advise that the closing date of the Prospectus has been extended and a new timetable will be advised at a later date.

23/09/2016

The company lodges its Half Year Accounts.

14/09/2016

The company issued a prospectus for the public offer of of between 30,000,000 and 40,000,000 Shares at an issue price of $0.20 each to raise between $6 million and $8 million.

13/09/2016

Following the approval of security holders on Tuesday 30 August 2016, and following the elapsing of the record date, Friday 2 September 2016, the securities of the Company were consolidated on the basis that every 100 (pre-consolidation) securities was to be consolidated into 1(post-consolidation) + security (/ies).

12/09/2016

we understand that on or about this date the company consolidated its shares 1 for 35

09/09/2016

The company releases the results of the General Meeting held today.

30/08/2016

Notice is given that an Extraordinary General Meeting of shareholders of Odin Energy Limited will be held at Suite 4, 16 Ord Street, West Perth on 30th August at 10.30 am.

29/08/2016

Somes Cooke, our previous auditors, have been bought out by Greenwich and Co Audit Pty Ltd, as such the Board of directors of Odin Energy Ltd have appointed Greenwich and Co Audit Pty Ltd as auditors. The Company has received ASIC consent to this change. The Company has no disagreement with the previous auditors, Somes Cooke.

05/08/2016

The company lodges its Appendix 4C - quarterly report.

29/07/2016

Shareholders get 1 share for every 35 they presently hold.

28/07/2016

The directors of Odin Energy Ltd advise the completion and execution of Deeds of Amendment, Restatement and Accession, for replacement Securities Sale Agreements to acquire gridComm Pte Ltd. Also, Notice is given that an Extraordinary General Meeting of shareholders of Odin Energy Limited ACN 124 491 416 will be held at Suite 4, 16 Ord Street, West Perth on 30th August at 10.30 am (WST).

22/07/2016

The securities of Odin Energy Limited (the "Company") will be suspended from official quotation immediately, pending the release of an announcement.

20/07/2016

listed entity carried for record purposes only

05/09/2007

ASX Announcements (courtesy of ASX)

 

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    Directors' on-market share transactions (last 5)

     

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Alex BajadaChairman20/03/2007
    David BallantyneDirector04/03/2015
    Roland BerzinsDirector23/02/2009

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Anthony ShortNon Exec Director02/08/201104/03/2015

    Date of first appointment, title may have changed.