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OPENN NEGOTIATION LIMITED (OPN)

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ASX, Legal & CGT Status

Former (or subsequent) names

 

Shareholder links

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

 

REGISTRY:

Computershare Perth
Level 17, 221 St Georges Terrace, Perth WA 6000
Tel : +61 (0)3 9415 4000 or 1300 850 505 (within Australia)
Fax : +61 3 9473 2500
RegistryWebsite RegistryEmail

Company details

ISIN: AU0000153082
Address: Level 1, 4 Stirling Road Claremont, WA 6010
Tel:  1 800 667 366

Date first listed: 21/07/2021

Activities: Australian-based holding company which (through its subsidiary) operates a property technology business providing technology solutions for the transparent negotiation and sale of real estate through an online software platform

News & Events

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The company announces that the Administrators have secured funding to continue to trade the Group's operations on a business-as-usual basis.

21/05/2024

The securities of Openn Negotiation Limited were suspended at OPN's request on 3 May 2024. OPN's securities will now be suspended from quotation under Listing Rule 17.3.1. The securities will remain suspended until such time as ASX is satisfied with OPN's compliance with the Listing Rules, including Listing Rule 12.2 and that it is otherwise appropriate for OPN's securities to be reinstated to quotation.

14/05/2024

Richard Tucker and John Bumbak of KordaMenths were appointed as Joint and Several Administrators.

13/05/2024

The company seeks an extension to the Voluntary Suspension granted by the Australian Securities Exchange for its securities. The request is made as the company has not yet completed its proposed capital raising and anticipates the suspension will remain until normal trading commences on 13 May 2024 or until the Announcement's release.

10/05/2024

The company is requesting an extension to the Voluntary Suspension granted by the Australian Securities Exchange for its securities. The request is made as the company has not completed its proposed capital raising announcement. The suspension will remain in place until normal trading commences on 10 May 2024 or until the Announcement is released.

08/05/2024

Openn has signed a binding business sale and purchase agreement to acquire Proffer Group Pty Ltd, a property technology business designed to combat chronic under supply issues in the ANZ marketplace by seamlessly connecting buyers, agents and potential vendors to transact unlisted properties. $2.5 million private share placement (with capacity to accept additional funding via oversubscription) to be conducted to fund expenses of the Acquisition and operations of the combined group post completion. The Acquisition will result in an integrated product suite that will deliver Australia's only end-toend on and off market transaction capability thereby ensuring a meaningful and unique value proposition to accelerate combined platform adoption. Openn's platform and customer base to swiftly facilitate adoption of Proffer via integration and cross-sell initiatives - including direct promotion of Proffer's value proposition to Openn's 146,000+ users. Opportunity to unlock revenue from unlisted properties whilst enhancing the overall agent proposition to include vendor appraisal generation.

06/05/2024

The securities of Openn Negotiation Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of OPN, pending the release of an announcement regarding a material acquisition and capital raising.

03/05/2024

The suspension of trading in the securities of Openn Negotiation Limited will be lifted immediately following the release by OPN of an announcement regarding a capital raising.

16/06/2023

The company releases a notice of proposed issue of securities.

16/06/2023

The company releases a prospectus for: a renounceable pro rata offer of 5 New Shares for every 2 Shares held by Eligible Shareholders registered at the Record Date, at an issue price of $0.004 per New Share, to raise up to approximately $3.19 million before costs. The Entitlement Offer is fully underwritten by Axiom Properties Limited. The Entitlement Offer opens on Monday, 26 June 2023 and closes at 5:00pm (WST) on Monday, 10 July 2023, unless extended; for an offer to the public (including Eligible Shareholders) to subscribe for the New Shares comprising the Shortfall to the Entitlement Offer, at $0.004 per New Share; and for an offer of 1,000 New Options at an issue price of $0.001 each to raise up to $1.00 before costs.

16/06/2023

5 for 2 Entitlement Offer at $0.004 to raise $3.19 million, fully underwritten by Axiom Properties Limited. Openn Board and Management to participate in the Entitlement Offer. Openn to focus on strategic partnering model to reduce cash outflows and generate near term revenue. New capital, combined with operational and management reorganisation, expected to accelerate growth opportunities and pursuit of strategic partnerships. Reorganisation to include board restructure, reduced board remuneration, and reduced overheads. Recapitalisation through introduction of new major shareholder provides launching pad to capitalise on Openn technology platform and drive new opportunities.

16/06/2023

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

01/06/2023

The company has completed a share placement to Axiom Properties Limited, raising $166,461 before costs.

01/06/2023

Axiom Properties Limited has acquired a substantial shareholding in ASX-listed Openn Negotiation Limited by way of 15% share placement, being 41.6m shares at $0.004 per share for a capital injection of $166,461. Refer to Form 603 Notice of initial substantial shareholder below for further information. Axiom has entered into a binding term sheet to fully underwrite an entitlement offer. The proposed Axiom underwritten renounceable entitlement offer to Openn shareholders will be at an issue price of $0.004 per share and raise approximately $3.2m.

31/05/2023

the Company anticipates that the voluntary suspension will remain in place until the earlier of the commencement of normal trading on Tuesday, 30 May 2023 or until the release of the Announcement in relation to the proposed capital raising.

29/05/2023

The voluntary suspension is requested as the company is not yet in a position to make an announcement regarding the proposed capital raising. The voluntary suspension is anticipated to remain in place unitl the earlier of the commencement of normal trading on 29 May 2023 or until the release of an announcement.

24/05/2023

The securities of Openn Negotiation Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of OPN, pending the release of an announcement regarding a capital raising.

24/05/2023

The suspension of trading in the securities of Openn Negotiation Limited will be lifted from the commencement of trading on Tuesday, 2 May 2023 following lodgement of its quarterly activity report and Appendix 4C.

02/05/2023

The securities of the entity will be suspended from quotation under Listing Rule 17.5 from the commencement of trading today, Monday, 1 May 2023, for not lodging the relevant periodic report by the due date. If the report is lodged between the closure of the market announcements office on Friday, 28 April 2023, and the imposition of the suspension, the entity's securities will normally be reinstated to quotation on the next trading day after the suspension is imposed.

01/05/2023

The company lodges its Quarterly Activities/Appendix 4C Cash Flow Report.

01/05/2023

listed entity carried for record purposes only

21/07/2021

 

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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
    14/04/2022Darren Bromley140,000$0.290$40,637
    12/04/2022Wayne Zekulich200,000$0.276$55,277

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Ben LauranceNon Exec Chairman17/11/2023
    Sean AdomeitCEO14/02/2022
    Andrew McCullochNon Exec Director13/10/2023
    Peter GibbonsExecutive Director21/07/2021
    Darren BromleyExecutive Director, CFO, Company Secretary21/07/2021

    Date of first appointment, title may have changed.

    SPECIAL NOTE: During May 2024 we are working to remove duplications in the Company Secretary role.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Wayne ZekulichNon Exec Chairman21/07/202117/11/2023
    Danielle LeeNon Exec Director21/07/202130/05/2023
    Duncan AndersonExecutive Director21/07/202130/05/2023

    Date of first appointment, title may have changed.