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INTERNET | Internet Software & Services / Advertising, Sales & Marketing
voodoocreative.com.au

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Stage

Merger | Merged

About Voodoo Creative

Voodoo Creative is a graphic design firm specialized in branding and digital services.

Voodoo Creative Headquarter Location

16/9 Beaconsfield St

Fyshwick, Australian Capital Territory, 2609,

Australia

02-6202-8200

Latest Voodoo Creative News

Trimantium GrowthOps float delayed further as IPO reopens

Feb 13, 2018

The troubled float of marketing and consulting group Trimantium GrowthOps has been further delayed with the promoters re-opening the initial public offering following delays in receiving funds from an undisclosed foreign investor . Trimantium’s float is part of a complex merger that will see independent agencies AJF Partnership, Khemistry and Voodoo Creative come together along with a group of IT and management consultancies. The deal is dependent upon the float going ahead . In a ‘Refresh Supplementary Prospectus’ issued last night, the company announced that due to the funds not being received, it has re-opened the IPO. A Trimantium GrowthOps spokesperson told Mumbrella that no more details on the investor who delayed the float could be given. The IPO was originally due to be completed by December 6 last year with stocks to commence trading by December 19, but has now been pushed back until midnight on March 12, with shares expected to start fully trading on March 20. The new indicative timetable. Source: Trimantium GrowthOps Limited Refresh Supplementary Prospectus The new Supplementary Prospectus explained: The Company has received Applications for $70 million of Shares at a price of $1 per Share (meaning that applications have been received for the entirety of the Offer), but no Shares have been issued under the Offer. As at the date of this Supplementary Prospectus, the Application Monies from a single foreign Applicant have not cleared in Australia as a result of that Applicant requiring a longer period of time to transfer its application monies from its foreign bank account into Australia. Whilst the Company remains confident that all Application Monies will be available shortly after the date of this Supplementary Prospectus, as a result of the above delay, the Company will not be able to satisfy the Quotation Condition upon expiry of the Original Period, being the date of this Supplementary Prospectus. The Company accordingly issues this Supplementary Prospectus in order to ‘refresh’ the Original Period under and in accordance with the Corporations Act. There are further problems for the company as those who accepted the offer previously can now withdraw their applications. The Supplementary Prospectus said: It is a condition of the Instrument that a refresh of the Original Prospectus can only be achieved if the Offer is re-opened for at least one month from the date of the refresh (and investors given a right to withdraw), irrespective of whether the Company would otherwise be able to settle the Offer sooner. The Company will continue to investigate ways that would allow it to settle the Offer as soon as possible in the interests of all stakeholders, including by seeking ASIC relief (which may not be obtained). The Trimantium spokesperson told Mumbrella the company is confident the float will continue with key investors expected to stay on board. “As described in the Supplementary Prospectus, the Corporations (read together with the ASIC Corporations (Minimum Subscriptions and Quotation Conditions) Instrument 2016/7) provides the right to withdraw, however our understanding is that all key investors have re-confirmed their commitment,” the spokesperson said. “The Company is confident the IPO will be completed and will continue to investigate ways that would allow it to settle the Offer as soon as possible in the interests of all stakeholders, including by seeking ASIC relief.” The spokesperson also confirmed: “The company currently has no intention to re-price the shares but it reserves all rights to do so under the law.” Related Content

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