QFY, GSM-I Directors speak ahead of merger
13 Nov 2020
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.