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Letter of Advice Regarding Purchase by Blue Sky Limited (BSL) of Electron Limited (Electron).
Member rating: No Rating | Words: | Submitted: Mon Jun 19 2006
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Smart Wise Grumble 101 Collins Street MELBOURNE VIC 3000 __________________________________________________ 7 May 2007 Mr Richard Gold General Counsel and Company Secretary Blue Sky Limited 18 West Road PRESTON VIC 3072 Dear Richard Letter of Advice Regarding Purchase by Blue Sky Limited (BSL) of Electron Limited (Electron) I refer to our telephone conversation and your letter of 11 February 2003. Below is my advice as requested on matters concerning the Letter of Intent signed by Peter Powell and John Jones. Please do not hesitate to call me to explain further any aspect of this advice. 1. Overview 1.1. Is the letter legally binding? 2. Corporations Act and ASX Listing Rules Restrictions A. Would the acquisition of shares in Electron be governed by the Corporations Act? 2.1. Chapter 6 of the Corporations Act 2001 (Cth) applies in acquisitions of voting shares of unlisted target companies with more than 50 members. As Electron has more than 50 members, the transaction would fall within the provisions. 2.2. Broadly,...
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