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K-TIG LIMITED (KTG)

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

Former (or subsequent) names

 FROMTO
K-TIG LIMITED07/10/2019
SERPENTINE TECHNOLOGIES LIMITED18/12/201707/10/2019
KABUNI LTD18/11/201518/12/2017
WHOLE NEW HOME LTD01/09/201518/11/2015
MAGNOLIA RESOURCES LIMITED01/09/2015

Shareholder links

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

 

REGISTRY:

Automic Group
Level 5, 191 ST GEORGES TERRACE PERTH WA 6000
Tel : +61 (2) 8072 1400 or 1300 288 664 (within Australia)
RegistryWebsite RegistryEmail

Company details

ISIN: AU0000059644
Address: Level 5, 191 St. Georges Terrace Perth WA 6000
Tel:  +61 2 8072 1400

Date first listed: 02/11/2012

Sector: Capital Goods Industry Group: XIJ
Activities: Precision welding technology

News & Events

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The Deed of Company Arrangement was executed on 12 April 2024 and effectuated on 16 April 2024. The Companies have now exited from external administration and control has been returned to their existing directors. Creditors will be contacted in due course regarding dividends to be paid in respect of their claims.

17/04/2024

Richard Tucker and John Bumbak have been appointed as joint and several Voluntary Administrators.

21/02/2024

The acquisition of Graham Engineering Limited will not proceed. As a result of market volatility caused by underlying macro events and the underlying trading performance of GEL, the acquisition of GEL will not proceed, and the Share Purchase Agreement executed on 22 March 2023 has been terminated by K-TIG.

16/02/2024

The company lodges its December 2023 Quarter Activities Update and Appendix 4C.

31/01/2024

The following securities will be released from voluntary escrow on 19 January 2024: fully paid ordinary shares of 771,429.

11/01/2024

The company lodges its amended September 2023 Quarterly Cash Flow Report.

15/12/2023

The company releases the results of its meeting.

30/11/2023

The company lodges its September 2023 Quarter Activities Update and Appendix 4C.

31/10/2023

The Annual General Meeting of the Company will be held as follows: 10.00am (AWST) on Thursday, 30 November 2023 at the offices of Automic Group, Level 5, 191 St Georges Terrace, Perth WA 6000.

24/10/2023

The company releases its letter to shareholders regarding its Annual General Meeting.

24/10/2023

The company releases a supplementary prospectus.

12/10/2023

The company releases a notification of cessation of securities.

06/10/2023

The company releases an Appendix 4G.

29/09/2023

The company lodges its Annual Report.

29/09/2023

The company releases its Corporate Governance Statement.

29/09/2023

Subsequent to the release of the Appendix 4E, the Company provided an update on the acquisition of Graham Engineering Limited and has separately completed the final valuation assessment of the convertible note and derivative financial liabilities, and as a result, the current assets increased by $700,000, and the fair values of the current liabilities increased by $2,837,220 in total from what was disclosed in the unaudited preliminary results. As a consequence, the respective carrying values of such financial liabilities will be increased in the Statement of Financial Position with a corresponding increase to both the fair value loss on financial liabilities and the finance costs line items in the Statement of Profit or Loss and Other Comprehensive Income, thereby increasing the loss for the financial year.

29/09/2023

The share purchase agreement to acquire Graham Engineering Limited has reached its sunset date of 31 August 2023 with a number of conditions precedent not yet satisfied. Challenging capital market conditions caused by underlying macro and geopolitical events have made the completion of the transaction within the sunset date extremely difficult. K-TIG remains committed to completing the SPA, and, subject to the intentions of GEL, is willing to negotiate good faith variations to the Share Purchase Agreement to allow this to occur. In the event that a variation cannot be agreed, either party may terminate the SPA. The Company is currently exploring a number of funding options in order to complete the transaction, as such the Company wishes to advise that the supplementary prospectus dated 21 July 2023 will be withdrawn. The Company intends to lodge the relevant supplementary prospectus with ASIC and the ASX shortly.

01/09/2023

The company lodges its Preliminary Final Report.

31/08/2023

The Company wishes to clarify that it has paid its annual listing fees before the due deadline. The securities of the Company remain in suspension following the announcement that it has entered into an agreement to acquire Graham Engineering Limited.

22/08/2023

Under Listing Rule 17.6, an entity (if not already suspended) that had not paid its annual listing fees by close of business on Monday, 21 August 2023 would have its securities suspended from Official Quotation before the commencement of trading on Tuesday, 22 August 2023. The following entity has failed to pay to ASX Limited the annual listing fees for the year ending 30 June 2024 and consequently will have its securities suspended from quotation immediately. The company has failed to pay to ASX the annual listing fees for the year ending 30 June 2024, and its securities are already suspended from quotation.

22/08/2023

The company lodges its June 2023 Quarter Activities Update and Appendix 4C.

31/07/2023

The company issues a supplementary prospectus.

24/07/2023

The acquisition agreement has been varied by mutual agreement. As a result of the variations, the company is required to issue a supplementary prospectus in respect of its public offer, which has been amended and seeks to raise up to $15,000,000 (before costs) through the issue of up to 75,000,000 share at an issue price of $0.20.

24/07/2023

The US Department of Defense Navy Manufacturing Technology Program awarded the project "˜Next Generation Autogenous Welding Process and Equipment Development' to General Dynamics Electric Boat. General Dynamics Electric Boat designs, builds, repairs and modernizes nuclear submarines for the U.S. Navy. General Dynamics Electric Boat is the prime contractor and lead design yard for the U.S. Navy's Virginia-class attack submarines. ManTech is a US Department of Defense industrial preparedness program focused on affordability improvements for key naval platforms as well as capability acceleration. K-TIG's welding technology has been selected by General Dynamics for this project to develop an alternative to conventional gas tungsten arc welding of pipe joints.

21/07/2023

The consolidation of the issued capital on the basis of 1 security for every 2.5 securities is now complete.

06/06/2023

The company releases the results of its meeting.

26/05/2023

The company releases a replacement prospectus.

22/05/2023

The company releases an Investor Presentation.

17/05/2023

The company releases a prospectus for an offer of up to 125,000,000 Shares at an issue price of $0.20 each to raise between $20,000,000 and $25,000,000 (before costs).

12/05/2023

The company releases a notice of proposed issue of securities.

04/05/2023

The company releases a notice of consolidation of securities. Shareholders get 2 share for every 5 presently owned.

28/04/2023

The company's general meeting is scheduled to be held at Level 5, 191 St George's Terrace, Perth Western Australia at 10.00am (Perth time) on Friday, 26 May 2023 and as a hybrid meeting .

26/04/2023

The company lodges its March 2023 Quarter Activities Update and Appendix 4C.

26/04/2023

K-TIG signs definitive share purchase agreement to acquire Graham Engineering Limited, a UK-based specialist manufacturer, of highly engineered, large scale metal fabrications to the UK nuclear decommissioning sector. K-TIG has completed due diligence on GEL to its satisfaction and intends to proceed with the acquisition.

22/03/2023

The company releases a notification regarding unquoted securities.

16/03/2023

K-TIG has raised $2 million through the issue of convertible debt notes from sophisticated and existing investors. Proceeds from the capital raise will be used to support sales momentum, progress the UK nuclear strategic initiatives, expenses of the raise and for working capital purposes.

16/03/2023

The company releases a notice of application for quotation of securities.

03/03/2023

The company lodges its Half Yearly Report and Accounts.

28/02/2023

The company lodges its December 2022 Quarter Activities Update and Appendix 4C.

31/01/2023

The securities of K-TIG Limited will be suspended from quotation immediately, at the request of KTG, following the announcement that it has entered into an agreement proposing to acquire Graham Engineering Limited. Under Listing Rule 11.1.2, KTG's ordinary security holders must approve the Proposed Acquisition and under Listing Rule 11.1.3, KTG is required to recomply with Chapters 1 and 2 of the Listing Rules. KTG's securities will remain suspended until KTG has recompiled with Chapters 1 and 2 of the Listing Rules.

27/01/2023

The suspension of trading in the securities of K-TIG Limited, formerly Serpentine Technologies Limited, will be lifted from the commencement of trading on Wednesday, 9 October 2019, following KTG's recompliance with Chapters 1 and 2 of the Listing Rules.

08/10/2019

name changed from Serpentine Technologies Limited

07/10/2019

The securities of K-TIG Limited are expected to be reinstated to Official Quotation at the commencement of trading in Group 3 at 10:04 AM AEDT on Wednesday, 9 October 2019, following its recompliance with Chapters 1 and 2 of the ASX Listing Rules. KTG, KTGOB raised $7,000,000 pursuant to the offer under its replacement prospectus dated 15 August 2019 by the issue 35,000,000 shares at an issue price of $0.20 per share.

07/10/2019

 

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ASX, Legal & CGT Status

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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
    18/10/2019Kieran Purcell-881,114$0.336$296,334
    11/11/2016Colm O'Brien300,000$0.030$8,920

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Stuart CarmichaelNon Exec Chairman03/07/2017
    Adrian SmithManaging Director20/02/2020
    Frans TjallingiiCOO07/11/2016
    Stephen UnerkovCFO26/07/2021
    Darryl AbotomeyNon Exec Director04/04/2022
    Anthony McIntoshDirector23/06/2020
    Brett TuckerCompany Secretary

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Syed ShuebDirector30/09/201916/04/2024
    Trish WhiteNon Exec Director01/12/202104/08/2023
    David ActonNon Exec Director01/12/202103/01/2023
    Mark TwycrossNon Exec Director20/02/202001/12/2021
    Lisa DeaCFO06/09/201626/07/2021
    Colm O'BrienNon Exec Director18/07/201623/06/2020
    David WilliamsCEO21/08/201916/03/2020
    Kieran PurcellDirector30/09/201920/02/2020
    Michael EdwardsNon Exec Director03/11/201730/09/2019
    Nathan SellynDirector25/08/201503/11/2017
    Ajai SehgalNon Exec Director01/08/201624/10/2017
    Anthony KingExecutive Chairman11/05/201203/07/2017
    Nikolas AjaguNon Exec Director25/08/201618/11/2016
    Tim FernbackCFO11/03/201606/09/2016
    Matt HehmanNon Exec Director16/09/201518/07/2016
    Linda LeeCFO20/10/201511/03/2016
    Cameron PearceNon Exec Director11/05/201218/09/2015
    Travis SchwertfegerNon Exec Director07/06/201227/08/2015

    Date of first appointment, title may have changed.