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Document date: Tue 14 Nov 2000 Released time: Tue 14 Nov 2000 12:20:14 Document No: 169972 Document part: A Market Flag: N Classification: Chairman`s Address - Other DAVNET LIMITED 2000-11-14 ASX-SIGNAL-G HOMEX - Melbourne +++++++++++++++++++++++++ MEDIA ANNOUNCEMENT VOLUNTARY ESCROW RESTRICTIONS Davnet Limited, the international Internet Protocol-powered telecommunications carrier, is pleased to advise that it has received voluntary commitments from several shareholders to enter into voluntary escrow restrictions. At present, 143,950,000 shares are subject to mandatory escrow restrictions, which have all been in place for a two-year period since the Company listed on ASX in December 1998. These escrow restrictions relating to these shares (which represent approximately 30% of the Company`s issued shares) are due to terminate on 29th December 2000. Various shareholders have affirmed their support of the Company and wish to demonstrate their longer-term confidence in the Company`s future by agreeing to enter into voluntary escrow restrictions. Those shareholders comprise a combination of shareholders whose shares are currently subject to the mandatory escrow restrictions and directors of the Company who have also agreed to allow their shares to be subject to voluntary escrow restrictions. The result is as follows: * 74,300,000 shares will be held by way of voluntary escrow restriction until 30 June 2001; and * of this 74,300,000 shares, 37,825,000 shares will be held by way of voluntary escrow restriction until 31 December 2001. Details in relation to the shares and shareholdings, which are subject to voluntary escrow restrictions, are set out in the table below: SHAREHOLDER SHARES HELD UNDER SHARES HELD UNDER VOLUNTARY ESCROW VOLUNTARY ESCROW RESTRICTION RESTRICTION UNTIL 30 UNTIL 31 JUNE 2001 DECEMBER 2001 Clever Country Software 49 million 24.5 million Pty Ltd* Straight Answers Pty 10 million 5 million Ltd*## Davstoc Investments Pty 10 million 5 million Ltd* Liao Corporation Pty Ltd* 3.5 million 1.75 million Ashton Simmons 350,000 175,000 Holdings Pty Ltd* Bill O`Shea** 100,000 50,000 Jurg Walker** 1.25 million 1.25 million Robert H Turner** 50,000 50,000 David Whitfield** 50,000 50,000 TOTAL 74,300,000 37,825,000 # A company controlled by Stephen Moignard, Managing director of Davnet Limited ## Straight Answers is currently subject to a restructure and it is expected that all shares owned by Straight Answers will be transfered off market after 27th December 2000 * Shareholders subject to mandatory escrow restrictions ** Shareholders, who are directors, entering into voluntary escrow restrictions for the first time Furthermore, the shareholders described in the table above who are directors or who are controlled by directors have expressly advised that they have no present intention to transfer any of their shares in the Company, including any shares held by them not subject to the voluntary escrow restrictions referred to above. The voluntary escrow restrictions are subject to the Listing Rule requirements, which provide that the Company may not refuse to register a transfer made in breach of the voluntary escrow restrictions. However, the shareholders described in the table have agreed to abide by the voluntary escrow restrictions as an good faith for the benefit of the Company`s shareholders, and have consented to being named in this ASX Announcement as a demonstration of their good faith. The voluntary escrow restrictions apply to a transfer of shares on ASX in the ordinary course of trade. They do not apply to off-market transfers, special crossings, if a shareholder named in the table above who is a director or who is controlled by a director ceases to be a director of the Company. In the case of a takeover bid for the Company, if the Company merges with another company, if the controller named in the table dies or suffers material ill health or adverse personal circumstances or if the shareholder named in the table becomes insolvent. S Moignard MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER OF DAVNET LIMITED For further enquiries: Hal Turner GROUP CHIEF OPERATING OFFICER Davnet Limited and CHIEF EXECUTIVE Davnet Asia: + 61 2 9272 9600 Or Peter Witton + 852 2206 8888 or + 852 900 72014 |
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| aus der Diskussion: | Davnet |
| Autor (Datum des Eintrages): | TOM_MOORE (14.11.00 05:49:08) |
| Beitrag: | 19 von 58 (ID:2340740) |
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