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Notice of Meeting, Independent Expert Report released

30 Oct 2020

The ASX has released Quantify’s Notice of Meeting and Independent Expert’s Report, following the announcement of the proposed acquisition of GSM-Innovations (Zimi Powermesh), to create Australia’s leading electrical Internet of Things provider.

The Notice advises that Quantify’s Annual General Meeting will be held on 30 November 2020 for the purpose of transacting the Acquisition, giving shareholders an opportunity to vote on a number of matters relating to the merge.

Quantify is also pleased to share that the Independent Expert, RSM Corporate Australia, has determined that the Acquisition is not fair but reasonable to non-associated Shareholders.

The Notice also divulges the financial position of Quantify and GSM-I before the transaction, in addition to a documenting the advantages and disadvantages of the merge, plus much more.

Read the Notice and Independent Expert’s Report, HERE.

An indicative timeline for the proposed Acquisition is as follows:

Event Date
Announcement of Acquisition 30 Sept 2020
Notice of AGM, IER released to ASX 28 Oct 2020
Notice of AGM sent to shareholders 29 Oct 2020
AGM to approve Acquisition & Consolidation 30 Nov 2020
Effective date for Consolidation 30 Nov 2020
Prospectus for Placement lodged with ASIC, ASX 30 Nov 2020
Last day of trading on ASX in pre-Consolidation shares 1 Dec 2020
Record date for Consolidation 3 Dec 2020
Completion of Capital Raise, issue of shares under Placement 4 Dec 2020
Completion of Acquisition, issue securities to Vendor 4 Dec 2020

*The dates in the timetable are indicative and subject to possible change without notice.

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