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ATOMOS LIMITED (AMS)

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ASX, Legal & CGT Status

Former (or subsequent) names

 

Shareholder links

Our website ranking of AMS: rating 3
(3 out of 5)
COMPANY WEBSITE:

 

REGISTRY:

Boardroom Pty Ltd
Level 8, 210 George Street, Sydney NSW 2000
Tel : +61 2 9290 9600 or 1300 737 760
Fax : +61 2 9279 0664 or 1300 653 459
RegistryWebsite RegistryEmail

Company details

ISIN: AU0000033870
Address: Level 6 700 Swanston Street Carlton VIC 3053
Tel:  +61 3 9999 5908

Date first listed: 28/12/2018
Company Secretary: Vanessa Chidrawi
Sector: Consumer Durables & Apparel 
Activities: Global software and hardware technology company that creates, develops and commercialises video monitors/recorders for the rapidly growing video content creation market

News & Events

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The company releases the results of its meeting.

30/11/2023

The company releases the Chair's Address to Shareholders.

30/11/2023

The Audited Accounts, audited by Moore Australia, are well progressed and now largely in final form, pending further verification and clarity around various capital management initiatives. The Company has several options available and is prioritising discussions with parties in an expedited manner to optimise the outcome for all shareholders. Atomos expects to provide a further update on the release of the Audited Accounts and capital management initiatives by early December 2023.

15/11/2023

Notice is hereby given that the Annual General Meeting of shareholders of Atomos Limited will be held on 30 November 2023 at 11 a.m. (AEDT) at the offices of Moore Australia Audit (VIC), Level 44, 600 Bourke Street, Melbourne, 3000.

06/11/2023

The Novation Deed is unconditional as the conditions precedent have been satisfied, the transactions contemplated by the Novation Deed have now been completed and the Amended Facility has come into effect. The audit of the Company's annual financial report is anticipated to be finalised by early November. The Company is pursuing a recapitalisation plan, on which action is well progressed, and that it expects to be in a position to make a further announcement in this regard by mid-November 2023.

23/10/2023

It is intended that Domazet FT3 Pty Ltd as trustee for The Domazet Family Trust No 3, a substantial holder of the Company, will replace Arrowpoint Capital Finance 103 Pty Ltd as financier of the debt funding arrangement currently provided by Arrowpoint. The terms offered by Doma are considerably more favourable to the Company than the arrangements currently in place, and include the capitalisation of interest, no scheduled amortisation, waiver of all financial covenants, and an increase in the available facility limit to $5 million with no line fee. The Company, Doma and Arrowpoint have entered into a Deed of Novation, Assignment and Amendment that provides for Doma's acquisition of the Debt Facility from Arrowpoint. The Novation Deed is conditional on, among other things, the Company having received a waiver from ASX from compliance with Listing Rule 10.1 or shareholder approval in accordance with Listing Rule 10.1. ASX has granted the Company a waiver in respect to Listing Rule 10.1, and therefore, the most significant condition precedent under the Novation Deed has been satisfied. The balance of the conditions are largely procedural and the parties are currently working through them with a view to completing the novation as soon as practicable.

13/10/2023

Shareholders in this company should consider crystallising a capital loss in 2023/24 by selling their shares. This process is now much easier and quicker. It can be achieved online by entering transaction details here. While, this usually makes good economic sense we recommend you seek professional advice before buying or selling securities, your accountant is probably the best person.

01/08/2023

The Company has been undertaking a comprehensive review of its cost base. Notable progress has already been made with this process and the Company is in the process of identifying further optimisations. These considered cost reductions and optimisations are resulting in a more balanced framework for future efficient growth and profitability of the business. In recognition of the decline in the Company's market capital, the size of the Board has been reduced and remaining non-executive directors have taken a 50% reduction in cash fees and waived their rights to equity-based remuneration for FY23. The strategic review of options available to maximise shareholder value has been undertaken by Henslow. To date, no sufficiently accretive corporate opportunity has been identified. The board will continue to monitor these opportunities closely, particularly when the global market environment begins to recover.

31/07/2023

The independent Chair and remaining Non-Executive Director have agreed to waive their entitlements to performance rights which comprise 25% of their gross remuneration and to take a 50% reduction in cash-based directors' fees, with effect from 1 July 2023. This will result in a reduction of the Chair's total annual remuneration from $150,000.00 to $56,250.00 and a reduction of non-executive directors' annual fees from $100,000.00 to $37,500.00, to take account of the Company's current circumstances and assist cash preservation. The Board is further grateful to advisor, James Joughin, for agreeing concessional rates to assist the Company.

27/06/2023

The company appoints James Joughin as an advisor to the Board effective immediately.

20/06/2023

Deloitte Touche Tohmatsu has resigned as auditor of the Company, and Moore Australia Audit (Vic) has been appointed as the Company's incoming auditor.

16/06/2023

The company releases its Half Year Results Presentation.

11/04/2023

Deloitte has completed their review of the Interim Financial Statements for the half-year ended 31 December 2022 and these financial statements have been lodged with ASX. The strategic review is progressing well, and the Board of Directors expect to be in a position to provide an update on the process by the end of April.

11/04/2023

The securities of Atomos Limited will continue to be suspended from quotation under Listing Rule 17.3, pending compliance with Listing Rule 19.11A (b) in relation to the disclaimer conclusion of the independent auditor in its review of AMS' half year financial report for the period ended 31 December 2022.

11/04/2023

The company lodges its Half Yearly Report and Accounts.

11/04/2023

The finalisation of the Atomos halfyear financial report has been further delayed, as Management is still working with the Company's auditors to address outstanding matters related to the key areas of review focus. Trading in the Company's securities will remain suspended pending release of the report, and the Company will provide an update on the anticipated timing of the finalisation of the report, once known.

16/03/2023

S&P Dow Jones Indices announced today the changes in the S&P/ASX Indices, effective prior to the open of trading on Monday, March 20, 2023, as a result of the March quarterly review. AMS was removed.

03/03/2023

Unaudited revenue of circa $21m, down circa 50% on previous corresponding period. Unaudited underlying EBITDA loss of circa $11m (down circa $14m on pcp). Annualised fixed cost base reduced by around 30% and strong inventory position enabling cash flow positive run-rate, supply and production certainty and substantial debt reduction. Noncash impairment to carrying value of intangible assets of circa $28m. Early take-up of cloud services encouraging with >60% average monthly growth in number of users and connected devices since BETA launched in September 2022. Requested voluntary suspension from trading pending finalisation of audit review process. Advisers appointed to undertake strategic review.

01/03/2023

The securities of Atomos Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of ASX, pending the release of its financial statements ending 31 December 2022.

28/02/2023

listed entity carried for record purposes only

28/12/2018

 

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    Click here for free access to this company's:
    ASX, Legal & CGT Status

    Directors' on-market share transactions (last 5)

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    Purchases Sales

    DATEDIRECTORNUMBERPRICEAMOUNT
    08/06/2022Lauren Williams149,653$0.267$40,001
    08/06/2022Megan Brownlow167,851$0.291$48,857
    08/06/2022Hossein Yassaie335,000$0.299$100,074
    07/06/2022Stephen Stanley700,000$0.282$197,169
    07/06/2022Chris Tait707,746$0.282$199,886

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Paul GreenbergNon Exec Chairman, Independent Director15/02/2023
    James CodyCFO28/12/2018
    Hossein YassaieNon Exec Director01/09/2016
    Trevor ElbourneExecutive Director, CEO14/04/2022

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Megan BrownlowNon Exec Director01/07/202130/06/2023
    Chris TaitExecutive Chairman11/09/201728/02/2023
    Stephen StanleyIndependent Director01/02/201930/09/2022
    Lauren WilliamsIndependent Director01/07/202130/09/2022
    Estelle McGechieCEO22/09/202114/04/2022
    Jeromy YoungExecutive Director, CEO29/09/200923/11/2021
    Bradley WhitcombDirector01/02/201918/09/2019
    Neil ChatfieldNon Exec Director11/09/201701/02/2019

    Date of first appointment, title may have changed.