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THE GO2 PEOPLE LTD (GO2)

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ASX, Legal & CGT Status

Former (or subsequent) names

 

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Our website ranking of GO2: rating 5
(5 out of 5)
COMPANY WEBSITE:

 

REGISTRY:

Computershare Brisbane
Level 1, 200 Mary Street Brisbane QLD 4000
Tel : +61 (0)3 9415 4000 or 1300 850 505 (within Australia)
Fax : +61 7 3229 9860
RegistryWebsite RegistryEmail

Company details

ISIN: AU000000GO22
Address: Suite 104 Level 1 109 Oxford Street Bondi Junction NSW 2022
Tel:  +61 2 9386 0500

Date first listed: 31/10/2017

Sector: Commercial & Professional Services 
Activities: Labour hire provider

News & Events

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The company lodges its preliminary final report.

30/08/2024

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

24/07/2024

The securities of the company have been suspended for more than three months. If an entity does not meet the 1 or 2 year deadlines, it will be removed from the official list. The removal will usually take effect from the open of trading on the first trading day after the deadline date.

10/07/2024

Shareholders in this company should consider crystallising a capital loss in 2024/25 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.

10/07/2024

The company lodges its Half Yearly Report and Accounts.

28/05/2024

The company lodges its 2023 Annual Report.

09/05/2024

The company lodges its Preliminary Final Report.

09/05/2024

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

19/04/2024

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

19/04/2024

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

22/01/2024

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

28/12/2023

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

28/11/2023

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

28/11/2023

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

22/11/2023

The company releases a notice of proposed issue of securities.

17/11/2023

The company releases a notification of cessation of securities.

17/11/2023

Following Shareholder approval at the General Meeting held on 9 November 2023, the consolidation of issued capital of the Company on the basis of 1 security for every 48 securities held is now complete. The post consolidation securities of the Company on issue are now as follows: Fully paid ordinary shares: 9,051,719.

16/11/2023

The company releases the results of its general meeting.

09/11/2023

the status of the organisation is changed from External Administered to Registered

09/11/2023

The company releases a notice of consolidation. Shareholders will get 1 share for every 48 shares presently owned.

11/10/2023

The company releases a letter to its shareholders regarding the general meeting to be held on 9th November 2023.

11/10/2023

The company's general meeting will be held on Thursday, 9th November 2023 at 11:00am (AEDT) at Nicols and Brien Chartered Accountants, Level 2, 350 Kent Street, Sydney, New South Wales, Australia.

11/10/2023

On 25 July 2023, GO2P executed the Deed of Company Arrangement with Alt Finance Pty Ltd that was approved by creditors at the adjourned second meeting held on 4 July 2023. The Voluntary Administrators' appointment over GO2P ended effective 25 July 2023.

28/07/2023

The adjourned second meeting of creditors of GO2P was held on 4 July 2023. At this meeting, it was resolved that GO2P execute a Deed of Company Arrangement proposed by Alt Finance Pty Ltd and David Levi of Levi Consulting Pty Ltd be appointed as Deed Administrator. The DOCA seeks to recapitalise the ASX-listed shell company and retain the prospect of a new business being vended into that structure in the future while retaining existing shareholders. The recapitalisation remains subject to requisite shareholder and ASX approvals.

05/07/2023

The DOCAs in respect of the entities previously listed have now completed with control passing to IntoWork effective from today, with the exception of GO2 Recruitment. Completion of the GO2 Recruitment transaction will occur in the near future subject to receipt of Court orders to terminate the Receivers and Managers appointment to that entity.

15/06/2023

The second meetings of creditors of the GO2 Group were held concurrently on 6 June 2023. At these meetings, creditors resolved the following outcome for each entity within the GO2 Group: The GO2 People Ltd - that the second meeting of creditors be adjourned to 4 July 2023; Skill Hire Australia Pty Ltd - the company be wound up; GO2 Recruitment Pty Ltd IIOR and as trustee for the GO2 Recruitment Trust, The GO2 People Australia Pty Ltd, GO2 Skills & Training Pty Ltd, Hunter Executive Search Consultants Pty Ltd, Skill Hire WA Pty Ltd, Nara Training and Assessing Pty Ltd - That these companies execute a Deed of Company Arrangement proposed by Intowork Australia Limited and Robert Brauer and Robert Kirman from McGrathNicol be appointed Deed Administrators. The Administrators' report to creditors noted that implementation of the IntoWork DOCAs allows for the continuation of employment for the DOCA entities' employees and their accrued leave entitlements being preserved post-effectuation of the IntoWork DOCAs and paid in the normal course. The DOCA entities will now enter into the IntoWork DOCAs within 15 business days of the second creditors meetings. The Administrators intend to rely on the relief set out in SIC Corporations (Externally-Administered Bodies) Instrument 2015/251 (Instrument) which provides for the deferral of financial reporting obligations for a minimum period of 6 months from the date of appointment of the Administrators and up to a maximum period of 24 months from the date of appointment of the Administrators.

13/06/2023

To support continued trading operations of the GO2 Group, the Administrators have drawn down the $3 million facility in full. Further, the Administrators have further negotiated a variation to the Loan Agreement to increase the facility limit by an additional $735,000. This variation has been agreed with Intowork and the additional amount drawn down. On 24 May 2023, the Supreme Court of Western Australia made orders to the effect that the Administrators would not be personally liable for moneys borrowed under the varied Loan Agreement, to the extent the assets of the relevant GO2 Group are insufficient to pay those liabilities.

25/05/2023

The following shares will be released from voluntary escrow: 97,219,838 fully paid ordinary shares with a 31 May 2023 release date.

25/05/2023

An application was made to the Supreme Court of WA to seek the following orders: In respect of the GO2 Recruitment Trust, that the Administrators be appointed Receivers and Managers of the assets of the Trust (and various consequential orders). In respect of the loan facility agreement entered into between the GO2 Group and Intowork Australia Limited (Loan Agreement), that: the liabilities incurred by the Administrators in respect of any obligations arising in connection with the Loan Agreement are debts incurred by the Administrators in the performance and exercise of their functions as Administrators; the Administrators will not be personally liable to repay or satisfy any liabilities incurred by the Administrators arising out of or in connection with the Loan Agreement; and the Administrators were justified in causing the GO2 Group to enter into the Loan Agreement.

05/05/2023

Rob Brauer and Rob Kirman were appointed Voluntary Administrators of the GO2 Group on 1 May 2023. The Administrators have entered into a loan facility agreement with IntoWork Australia Ltd, a leading national not for profit provider of employment, skills and education, and support services. The loan facility ensures funds are available to the Administrators to maintain trading operations across the GO2 Group. The Administrators intend to continue operating the GO2 Group on a "˜business as usual' basis while options for the sale and/or recapitalisation of the business are explored. The Administrators have agreed to work with IntoWork, which is undertaking due diligence on the GO2 Group with the intention of submitting a sale or recapitalisation proposal to the Administrators. A first statutory meeting of creditors must be held within eight business days after the administration begins and is expected to take place on 11 May 2023.

02/05/2023

Voluntary administrators were appointed.

01/05/2023

The securities of The GO2 People Ltd will be suspended from quotation immediately under Listing Rule 17.2, at the request of GO2, pending the release of an announcement regarding a material debt owed by a customer.

28/04/2023

The suspension of trading in the securities of The GO2 People Ltd will be lifted immediately following the release by GO2 of an announcement regarding a proposed acquisition and capital raising.

09/09/2019

The company has received a notice of termination of the share sale agreement from the vendor of Industry Pathways and provides an update on the reinstatement to trading of the company's shares on the ASX and outlook for the company.

09/09/2019

GO2 has executed an Indicative Non-Binding Heads of Agreement for a debt facility of up to $2m for the purposes of financing the IPW acquisition, resulting in less equity dilution as part of the current capital raising. A combination of the debt facility and anticipated commitments received as part of the equity capital raising, are expected to be sufficient to finance the purchase of IPW. A new capital raise minimum of $1.3 million in equity has been set as a result of the debt facility offer. A supplementary prospectus has been released via the ASX detailing new changes to the offer. ï‚· A new offer closing date has been set for August 28th, 2019 on the back of new information released to the market. Following capital raising close and issue of new shares, GO2 will resume trading on the ASX. Successful integration of IPW with GO2 and profitability on the core GO2 business is Management's priority.

19/08/2019

The company releases an pdated IPW transaction presentation.

19/08/2019

The company issues a supplementary prospectus which supports the 10 July 2019 prospectus.

19/08/2019

The company releases the results of its meeting.

09/08/2019

The company lodges an Appendix 4C - quarterly.

01/08/2019

The company issues a prospectus which contains: an offer of up to 53,333,334 Shares in the capital of the Company at an issue price of $0.075 per Share, together with one (1) free attaching New Option for every one (1) Share subscribed for and issued, to raise up to $4,000,000; an offer of up to 4,000,000 Broker Options to the Lead Manager of the Capital Raising; and an offer of up to 13,333 Shares at an issue price of $0.075 per Share to raise up to $1,000. The Capital Raise Offer and the Broker Options Offer are subject to Shareholder approval which will be sought at the general meeting to be held on 9 August 2019.

10/07/2019

The company releases a Managing Director Letter July 2019. The highlights of the letter are as follows: voluntary suspension to end as soon as practicable after completion of capital raising; new corporate advisors, Vested Equities and Bletchley Park Capital appointed. New capital raising structure "“ raising a minimum of $2.7m and maximum of $4.0m at 7.5cps with a free attached 1:1 call option at 10cps with 12 months expiry. Restructure of GO2 "“ Company reaffirms expectation of first EBITDA positive month in July 2019. Acquisition of IPW "“ Company remains committed to the acquisition, will target synergies including significant cross-sell potential. The IPW acquisition will further evolve the GO2 business as a national, vertically integrated labour hire and training business.

08/07/2019

The company requests a continuation of the suspension of trading of its securities. The suspension is expected to cease upon the company releasing an announcement followingn the general meeting and closing date of the offer. It is expected that the company will recommence trading on the ASX on the 14th of August 2019.

04/07/2019

The company releases its Capital Raise Investor Presentation July 2019.

03/07/2019

The company releases the general meeting proxy form.

03/07/2019

The company releases a notice of general meeting. The meeting will be held at 9.00 AM on 9 August 2019 at 9 August 2019.

03/07/2019

Satisfaction of conditions precedent to IPW acquisition ongoing. Vested Equities appointed as new Lead Manager to complete capital raise. Restructure of GO2 existing operations to focus on delivery of sustainable earnings, and board changes.

06/06/2019

The company requests the continuation of the suspension of trading of its securities. The suspension will cease upon the company releasing an announcement on the satisfaction of the material conditions precedent in relation to the acquisition of Industry Pathways or the commencement of trading on 12 June 2019, whichever is earlier.

28/05/2019

The company requests a continuation of the suspension of its securities since it requires additional time to satisfy the conditions precedent in relation to the acquisition of Industry Pathways Pty Ltd as set out in the company's release dated 23rd April 2019. The suspension is expected to end upon the release of an announcement or the commencement of trading on 28 May 2019, whichever is earlier.

14/05/2019

The company lodges an Appendix 4C - quarterly.

01/05/2019

It is expected that the suspension will cease upon the Company receiving firm commitments for the capital raising and releasing an announcement on completion of the capital raising. The Company requests the suspension to end at the commencement of trading on Monday 13 May 2019 or when the announcement is made, whichever is the earlier.

30/04/2019

The GO2 People Ltd has entered into a Share Purchase Agreement to acquire Industry Pathways. IPW is a fast-growing nationally Registered Training Organisation offering feefor-training services. The proposed acquisition is based on a favourable multiple and is significantly EBITDA accretive. Up-front consideration includes a 50/50 split of cash and GO2 shares with further share-based payments to the vendor over 3 years based on achievement of EBITDA targets. IPW is a highly-synergistic business which complements GO2's service offering and increases overall Group capability. Acquisition provides multiple cross selling and vertical integration opportunities. Acquisition is subject to completion of a capital raise of up a minimum of $2.7 million and a maximum of $4 million via a placement to sophisticated investors (subject to shareholder approval).

23/04/2019

The Company requires additional time to finalise the capital raising and potential acquisition. It is expected that the suspension will cease upon the Company receiving firm commitments for the capital raising and releasing an announcement on completion of the capital raising and potential acquisition. The Company requests the suspension to end at the commencement of trading on Tuesday 30 April 2018 or when the announcement is made, whichever is the earlier.

17/04/2019

The securities of The Go2 People Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of GO2, pending the release of an announcement regarding an acquisition and capital raising

10/04/2019

listed entity carried for record purposes only

31/10/2017

 

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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
    06/09/2022Darren Cooper500,000$0.017$8,355
    05/09/2022Shawn Murphy368,000$0.016$5,903
    02/08/2022Darren Cooper500,000$0.012$6,094
    03/06/2021Darren Cooper500,000$0.038$19,000
    04/09/2020Darren Cooper500,000$0.044$21,991

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Steven RichardsCFO30/03/2022
    Thomas MurmyloDirector, Company Secretary09/11/2023
    Vasilios ArgyrosDirector09/11/2023
    Dorota BondarukDirector09/11/2023

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Darren CooperChairman30/07/201709/11/2023
    Shawn MurphyManaging Director, CEO01/10/202109/11/2023
    John ManningIndependent Director22/11/202109/11/2023
    Danny WarrenCFO01/06/202104/10/2022
    Susan HansenIndependent Director22/11/202128/07/2022
    Sophie RayIndependent Director22/11/202128/07/2022
    Tony FitzpatrickNon Exec Director31/05/202123/05/2022
    Robert StockdaleNon Exec Director31/05/202201/05/2022
    Corinne FranklinCFO04/10/202130/03/2022
    Billy FerreiraCEO31/10/201730/09/2021
    Paul GoldfinchExecutive Director14/10/201931/08/2021
    Andries DiqueIndependent Director04/04/201830/11/2019
    Peter McMorrowIndependent Director08/03/201806/06/2019
    Doug GrewarNon Exec Director31/10/201708/03/2018

    Date of first appointment, title may have changed.