Restructuring Update and Appointment of Nominated Advisor
Sydney, July 12, 2022 AEST (ABN Newswire) - The Board of a2a GN Limited (
NSX:A2A) advises that it has received notification from the proposed acquirer, Dato' Lee, that he is discontinuing with the proposed reverse takeover (RTO). This decision by Dato' Lee reflects a combination of personal and commercial reasons, and unfortunately these prevent him from continuing the proposed RTO. Dato' Lee in his notification passes on his appreciation of NSX and the a2a Board for the opportunity and he remains confident that a suitable business can and will be RTO'd into a2a for the benefit of all stakeholders.
The a2a Board, whilst disappointed having invested considerable effort in progressing the RTO with Dato' Lee, fully respects this decision and wishes him well in his future endeavors. The Board has simultaneously been progressing discussions with other parties to provide optionality and ultimately deliver the best outcome and will now shift focus to these opportunities, and for this reason, will appoint a new Nominated Advisor effective from today.
Nominated Advisor
The a2a Board also advises it has received a resignation letter from Automic Pty Ltd as Nominated Advisor (Nomad), and the Board thanks Automic for their previous assistance. Subsequently, the Board has appointed Biztrack Consultants Private Limited (Biztrack) as a2a's ongoing Nomad. Biztrack have a strong background of helping companies list and post-listing on the National Stock Exchange of Australia (NSX) and the Board believes that given Biztrack's track record and business network they will be able to assist a2a to identify suitably qualified assets for a2a to acquire and re-comply the Listing Rules and seek a resumption of trading in a2a's shares on NSX.
About A2A GN Ltd
a2a Global Network Sdn Bhd is a Data Technology Consumers Platform incorporated on 16 December 2015 whereby consumers can leverage on, to earn Loyalty Points from their online and offline shopping, to build their database and generate uninterrupted passive income.
a2a simply stands for 'anyone to anyone', 'anywhere to anywhere' and 'anything to anything'.
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