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15 May 2024
| Name: | BROO LTD (BEE) |
| ISIN: | AU000000BEE5 |
| Date of Listing: | 14 October 2016 |
| Date of Delisting: | 13 May 2024 |
Stock Exchange Status:
This entity was delisted from the Australian Securities Exchange on 13 May 2024.Legal Status:
ACN: 060 793 099ABN: 78 060 793 099
Registration Date: 01 July 1993
Capital Gains Tax (CGT) Status:
The securities in this entity, in our opinion, are of little or no value. We have made that assessment by reference to the circumstances leading to a suspension and/or delisting, the length of a suspension, share trading history and last on-market share price, most recent financial and cash flow statements, prospects (including likelihood of re-financing), and other factors including in particular whether the entity is in external administration. If you are seeking to crystallise a capital loss on your securities, that process can be easily and quickly initiated at our online Worthless Shares facility here: https://www.delisted.com.au/sell-worthless-and-other-securities/.
Updates, corrections, disagreements please email to admin@delisted.com.au
Further information: deListed and InvestoGain are operated by Investogain Pty Limited which is licensed by ASIC as an Australian Financial Services Licensee (AFSL 334036). deListed acquires only securities that it deems to be of little or no value, in circumstances where the holder is unable to sell their securities on-market in the normal manner. This service has been provided online via the company’s website www.delisted.com.au since 2004.
Getting advice: Information provided in this section is of a general nature and applicable only to Australian tax residents who hold their investments on capital account (ie for long-term investment purposes). It has been prepared without taking into account your financial needs or tax situation. Before acting on the information, deListed suggests that you consider whether it is appropriate for your circumstances and recommends that you seek independent legal, financial, or taxation advice.
Disclaimer: The information provided above is to the best of our knowledge accurate as of today. But you should bear in mind that it is of a general nature and does not constitute financial or tax advice. Investogain Pty Limited accepts no liability for any loss arising from reliance on this information, including reliance on information that is no longer current.
REGISTRY:
Computershare Melbourne
Yarra Falls, 452 Johnston Street, Abbotsford VIC 3067
Tel : +61 (0)3 9415 4000 or 1300 850 505 (within Australia)
Fax : +61 3 9473 2500
RegistryWebsite RegistryEmail
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. | 15/05/2024 |
we understand ASX removed the company from listing because its securities have been suspended from quotation for a continuous period of two years | 15/05/2024 |
delisted by ASX under Listing Rule 17.12 | 13/05/2024 |
The company releases the results from the 2023 annual general meeting. | 06/05/2024 |
The company releases the results from the 2022 annual general meeting. | 06/05/2024 |
The company lodges its Appendix 4C and Quarterly Activities Report. | 30/04/2024 |
The 2023 Annual General Meeting of the Shareholders will be held at 11:45am AEST on Monday, 6 May 2024 at Level 14, 333 Collins Street Melbourne VIC 3000. | 05/04/2024 |
The 2022 Annual General Meeting of the Shareholders will be held at 11:00am AEST on Monday, 6 May 2024 at Level 14, 333 Collins Street Melbourne VIC 3000. | 05/04/2024 |
The company lodges an updated Appendix 4C for Dec 2023 Quarter. | 04/04/2024 |
The company lodges an updated Appendix 4C for Dec 2023 Quarter. | 04/04/2024 |
The company lodges its Appendix 4D and Half Year Report for 31 December 2023. | 29/02/2024 |
The company lodges its Appendix 4C for 31 Dec 2023 and Quarterly Activites Reports. | 19/02/2024 |
The Company has now raised $600,000 via entering into a Convertible Note Agreement. | 07/02/2024 |
The company lodges its Appendix 4G and Corporate Governance Statement for FY23. | 31/01/2024 |
The company lodges its Audited Accounts and Annual Report for FY23. | 31/01/2024 |
The company lodges its Appendix 4E - FY22. | 31/01/2024 |
The company lodges its Appendix 4D and Half Year Accounts for 31 December 2022. | 19/12/2023 |
The company lodges the following: Appendix 4C - March 2023 Quarter, Appendix 4C - June 2023 Quarter, Appendix 4C - September 2023 Quarter and Appendix 4G and Corporate Governance Statement FY22. | 11/12/2023 |
The new Board and Management team have been focused on bringing the Company's ASX reporting up-to-date. The new Board is committed to improving the Company's compliance culture and meeting all ASX reporting and statutory reporting deadlines going forward. As a result, the Company has today lodged: the quarterly cashflow reports for the periods ended 31 March, 30 June and 30 September 2023; and the Appendix 4G and Corporate Governance Statement for the year ended 30 June 2022. The Board has now commenced the process for completing the half year audit review for the period ended 31 December 2022 and full year audit for the period ended 30 June 2023. It is expected that these outstanding reports will be completed by 31 December 2023. The Board has commenced discussions with existing key suppliers, customers and staff members with a view to resuming operations following completion of the Group Restructure. The Company is in the process of securing an additional supplier to manufacture beer products. The Company plans to re-initiate its existing product distribution channels, as well as penetrate into new channels for the sale and distribution of its range of beverage products. The Board is working through a funding plan to fully recapitalise the Company and strengthen its balance sheet. The Board is now close to finalising the restructure with the expected completion date of 31 December 2023. The Company will also be engaging with ASX shortly in relation to the steps and requirements to be met in order to facilitate reinstatement of the Company to the official list of the ASX. | 11/12/2023 |
The company lodges its Annual Report to shareholders. | 31/07/2023 |
The Company has now commenced the preparation of audit of full year accounts for the period ended 30 June 2022 and audit review of the half year accounts for the period ended 31 December 2022. It is expected that the Full Year Audit and Half Year Audit Review will be completed in the coming weeks, after which the Company will release the audited full year accounts for FY22 and reviewed half year accounts for 1H 23 to the ASX. The voluntary administration for certain Broo subsidiaries is at the final stage. The Company has decided to broaden the current product category offering to cover mid-strength beer, craft beer and zero percent alcohol drinks on top of the existing product range. The Company is exploring additional domestic and international distribution channels for the sale of Broo products. | 09/06/2023 |
6,326,666 ordinary shares will be released from voluntary escrow on 9 February 2023. The 6,326,666 ordinary shares were issued on 21 January 2022 to former directors Mathew Boyes and Matthew Newberry in lieu of fees payable and as approved by shareholders at the Company's 22 December 2021 AGM. The Shares were placed in voluntary escrow to ensure the securities were not on-sold within 12 months in a manner that would have breached section 707(3) or 1012C(6) of the Corporations Act 2001 (Cth). | 02/02/2023 |
The company lodges its Quarterly Activities/Appendix 4C Cash Flow Report. | 01/02/2023 |
Development Victoria has exercised its option to call back the property asset located at 2 Liberator Drive, Mitchell Park, Victoria 3355 (Ballart Property) in accordance with the terms specified in the contract between Broo and DV, for a total amount of circa $2.3 million. The Company has used the proceeds to repay the entire loan and outstanding rates and taxes associated with the land in full, reducing the Company's total liabilities by $2.1 million. | 11/01/2023 |
The company lodges its Quarterly Activities/Appendix 4C Cash Flow Report. | 31/10/2022 |
The completion and release of the Company's Appendix 4E Preliminary Final Report has been delayed as the Company continues to focus on completion of the ongoing strategic review of the business and its assets including the Company's organisational structure. The Company is working to complete the review and Appendix 4E Preliminary Final Report and anticipates it will be in a position to lodge the report in late September 2022. | 31/08/2022 |
The company lodges its Quarterly Activities/Appendix 4C Cash Flow Report. | 04/08/2022 |
The company releases a notification of cessation of securities. | 06/07/2022 |
The Board on 6 May 2022 appointed Con Kokkinos of Worrells as Voluntary Administrator for each of the following wholly-owned subsidiaries: Australia Draught Pty Ltd, Mildura Brewery Pub, Mildura Brewery, Sorrento Brewery. The voluntary administration relates to the subsidiaries only and does not include Broo Limited or Broo Brewery, which is wholly owned by the company, or other entities within the Broo group. On 9 June 2022, the creditors of Australia Draught approved a DOCA. Pursuant to the DOCA, the voluntary administration of Australia Draught has come to an end, and the control of Australia Draught has now been returned to its parent entity, Broo Limited. This allows the Company to continuing trading its business via Broo Limited and Australia Draught. After the company restructure, the group will comprise the following entities: Broo Limited, Australia Draught Pty Ltd (subject to Deed of Company Arrangement) and Broo Brewery Pty Ltd. | 24/06/2022 |
The securities of Broo Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of BEE, pending the release of an announcement regarding a company restructure. | 11/05/2022 |
listed entity carried for record purposes only | 14/10/2016 |
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. | 15/05/2024 |
we understand ASX removed the company from listing because its securities have been suspended from quotation for a continuous period of two years | 15/05/2024 |
delisted by ASX under Listing Rule 17.12 | 13/05/2024 |
The company releases the results from the 2023 annual general meeting. | 06/05/2024 |
The company releases the results from the 2022 annual general meeting. | 06/05/2024 |
The company lodges its Appendix 4C and Quarterly Activities Report. | 30/04/2024 |
The 2023 Annual General Meeting of the Shareholders will be held at 11:45am AEST on Monday, 6 May 2024 at Level 14, 333 Collins Street Melbourne VIC 3000. | 05/04/2024 |
The 2022 Annual General Meeting of the Shareholders will be held at 11:00am AEST on Monday, 6 May 2024 at Level 14, 333 Collins Street Melbourne VIC 3000. | 05/04/2024 |
The company lodges an updated Appendix 4C for Dec 2023 Quarter. | 04/04/2024 |
The company lodges an updated Appendix 4C for Dec 2023 Quarter. | 04/04/2024 |
The company lodges its Appendix 4D and Half Year Report for 31 December 2023. | 29/02/2024 |
The company lodges its Appendix 4C for 31 Dec 2023 and Quarterly Activites Reports. | 19/02/2024 |
The Company has now raised $600,000 via entering into a Convertible Note Agreement. | 07/02/2024 |
The company lodges its Appendix 4G and Corporate Governance Statement for FY23. | 31/01/2024 |
The company lodges its Audited Accounts and Annual Report for FY23. | 31/01/2024 |
The company lodges its Appendix 4E - FY22. | 31/01/2024 |
The company lodges its Appendix 4D and Half Year Accounts for 31 December 2022. | 19/12/2023 |
The company lodges the following: Appendix 4C - March 2023 Quarter, Appendix 4C - June 2023 Quarter, Appendix 4C - September 2023 Quarter and Appendix 4G and Corporate Governance Statement FY22. | 11/12/2023 |
The new Board and Management team have been focused on bringing the Company's ASX reporting up-to-date. The new Board is committed to improving the Company's compliance culture and meeting all ASX reporting and statutory reporting deadlines going forward. As a result, the Company has today lodged: the quarterly cashflow reports for the periods ended 31 March, 30 June and 30 September 2023; and the Appendix 4G and Corporate Governance Statement for the year ended 30 June 2022. The Board has now commenced the process for completing the half year audit review for the period ended 31 December 2022 and full year audit for the period ended 30 June 2023. It is expected that these outstanding reports will be completed by 31 December 2023. The Board has commenced discussions with existing key suppliers, customers and staff members with a view to resuming operations following completion of the Group Restructure. The Company is in the process of securing an additional supplier to manufacture beer products. The Company plans to re-initiate its existing product distribution channels, as well as penetrate into new channels for the sale and distribution of its range of beverage products. The Board is working through a funding plan to fully recapitalise the Company and strengthen its balance sheet. The Board is now close to finalising the restructure with the expected completion date of 31 December 2023. The Company will also be engaging with ASX shortly in relation to the steps and requirements to be met in order to facilitate reinstatement of the Company to the official list of the ASX. | 11/12/2023 |
The company lodges its Annual Report to shareholders. | 31/07/2023 |
The Company has now commenced the preparation of audit of full year accounts for the period ended 30 June 2022 and audit review of the half year accounts for the period ended 31 December 2022. It is expected that the Full Year Audit and Half Year Audit Review will be completed in the coming weeks, after which the Company will release the audited full year accounts for FY22 and reviewed half year accounts for 1H 23 to the ASX. The voluntary administration for certain Broo subsidiaries is at the final stage. The Company has decided to broaden the current product category offering to cover mid-strength beer, craft beer and zero percent alcohol drinks on top of the existing product range. The Company is exploring additional domestic and international distribution channels for the sale of Broo products. | 09/06/2023 |
6,326,666 ordinary shares will be released from voluntary escrow on 9 February 2023. The 6,326,666 ordinary shares were issued on 21 January 2022 to former directors Mathew Boyes and Matthew Newberry in lieu of fees payable and as approved by shareholders at the Company's 22 December 2021 AGM. The Shares were placed in voluntary escrow to ensure the securities were not on-sold within 12 months in a manner that would have breached section 707(3) or 1012C(6) of the Corporations Act 2001 (Cth). | 02/02/2023 |
The company lodges its Quarterly Activities/Appendix 4C Cash Flow Report. | 01/02/2023 |
Development Victoria has exercised its option to call back the property asset located at 2 Liberator Drive, Mitchell Park, Victoria 3355 (Ballart Property) in accordance with the terms specified in the contract between Broo and DV, for a total amount of circa $2.3 million. The Company has used the proceeds to repay the entire loan and outstanding rates and taxes associated with the land in full, reducing the Company's total liabilities by $2.1 million. | 11/01/2023 |
The company lodges its Quarterly Activities/Appendix 4C Cash Flow Report. | 31/10/2022 |
The completion and release of the Company's Appendix 4E Preliminary Final Report has been delayed as the Company continues to focus on completion of the ongoing strategic review of the business and its assets including the Company's organisational structure. The Company is working to complete the review and Appendix 4E Preliminary Final Report and anticipates it will be in a position to lodge the report in late September 2022. | 31/08/2022 |
The company lodges its Quarterly Activities/Appendix 4C Cash Flow Report. | 04/08/2022 |
The company releases a notification of cessation of securities. | 06/07/2022 |
The Board on 6 May 2022 appointed Con Kokkinos of Worrells as Voluntary Administrator for each of the following wholly-owned subsidiaries: Australia Draught Pty Ltd, Mildura Brewery Pub, Mildura Brewery, Sorrento Brewery. The voluntary administration relates to the subsidiaries only and does not include Broo Limited or Broo Brewery, which is wholly owned by the company, or other entities within the Broo group. On 9 June 2022, the creditors of Australia Draught approved a DOCA. Pursuant to the DOCA, the voluntary administration of Australia Draught has come to an end, and the control of Australia Draught has now been returned to its parent entity, Broo Limited. This allows the Company to continuing trading its business via Broo Limited and Australia Draught. After the company restructure, the group will comprise the following entities: Broo Limited, Australia Draught Pty Ltd (subject to Deed of Company Arrangement) and Broo Brewery Pty Ltd. | 24/06/2022 |
The securities of Broo Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of BEE, pending the release of an announcement regarding a company restructure. | 11/05/2022 |
listed entity carried for record purposes only | 14/10/2016 |
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| NAME | TITLE | DATE OF APPT |
|---|---|---|
| Michael Chen | Executive Chairman | 17/10/2023 |
| Mark Ma | CFO | 29/04/2022 |
| David Zhu | Non Exec Director | 15/10/2021 |
| Jason Zhang | Executive Director | 03/04/2024 |
| Nova Taylor | Company Secretary |
Date of first appointment, title may have changed.
SPECIAL NOTE: During May 2024 we are working to remove duplications in the Company Secretary role.
| NAME | TITLE | DATE OF APPOINTMENT | DATE OF RESIGNATION |
|---|---|---|---|
| Peter Pan | Executive Chairman | 17/10/2023 | 01/02/2024 |
| James Li | Non Exec Chairman | 29/09/2023 | 17/10/2023 |
| Yanhua Chen | Non Exec Director | 08/02/2023 | 17/10/2023 |
| Jiawei Chen | Non Exec Chairman | 31/05/2023 | 29/09/2023 |
| Kobe Li | Chairman | 08/04/2022 | 15/03/2023 |
| Jason Scher | Non Exec Director | 27/10/2022 | 06/02/2023 |
| George Karafotias | Director | 08/04/2022 | 06/02/2023 |
| Kent Grogan | Chairman, CEO | 04/07/1993 | 08/04/2022 |
| Matthew Boyes | Director | 13/11/2010 | 08/04/2022 |
| Matthew Newberry | Non Exec Director | 02/03/2018 | 22/12/2021 |
| Adrian Siah | CFO | 24/12/2019 | 30/06/2021 |
| Geffrey De Graaff | Non Exec Director | 01/07/2016 | 02/03/2018 |
| Phillip Grundy | Non Exec Director | 14/10/2016 | 02/03/2018 |
Date of first appointment, title may have changed.
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