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WELLFULLY LIMITED (WFL)

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ASX, Legal & CGT Status

Former (or subsequent) names

 FROMTO
WELLFULLY LIMITED15/09/2020
OBJ LIMITED19/05/200415/09/2020
OBJECTIF TELECOMMUNICATIONS LIMITED19/05/2004

Shareholder links

 

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: AU000000OBJ3
Address: Level 1, 284 Oxford Street, LEEDERVILLE, WA, AUSTRALIA, 6007
Tel:  08 9443 3011Fax: 08 6316 3337

Date first listed: 29/05/2000
Company Secretary: Bill Pavlovski
Sector: Pharmaceuticals & Biotechnology Industry Group: XHJ
Activities: OBJ is a leading developer of magnetic, micro-array drug and ingredient delivery technologies. OBJ has over 100 years of combined expertise in transdermal, perdermal, appendageal and sub-surface drug and ingredient delivery and associated product develop

News & Events

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The company lodges its Appendix 4D & 2023 Half Year Report.

08/04/2024

The company lodges its Appendix 4D & 2023 Half Year Report.

08/04/2024

The Company will hold an AGM at 10am (Perth time) on Friday, 26 April 2024 at Pitcher Partners, Level 11, 12 The Esplanade, Perth Western Australia.

27/03/2024

The company lodges its Annual Report to shareholders.

29/02/2024

Having received consent of the Australian Securities and Investments Commission, RSM Australia Partners has resigned as auditor of the Company with effect from today. The Company has appointed Moore Australia Audit (WA) as its auditor for the year ended 30 June 2023 and will seek confirmation of the appointment of Moore Australia Audit (WA) to continue as its auditor for future years at the upcoming AGM that is expected to be held prior to 31 March 2024.

19/02/2024

The second meetings of creditors of the Companies were held on Friday, 22 September 2023. At the meetings, creditors resolved to adjourn the meetings for a period of up to 45 business days in accordance with the Administrators' recommendation. As a result of the adjournment, the second meetings were due to be held on or before 27 November 2023. In early November 2023, an interested party emerged with an expression of interest to enter into a potential transaction with Wellfully. Following a number of meetings with the interested party and key stakeholders of Wellfully to determine the viability of the potential transaction, the Administrators formed a view that the prospective transaction may be in the interests of creditors and shareholders. Upon forming this view, the Administrators instructed their solicitors to urgently submit an application with the Supreme Court of Western Australia to obtain an extension to the Adjournment Period for a period of up to a further five (5) months to 30 April 2024 pursuant to section 447A(1) of the Corporations Act 2001 (Cth). On 21 November 2023, the Court granted the Orders to enable the Administrators to extend the Adjournment Period up to 30 April 2024.

23/11/2023

The Company relies upon the relief granted under sections 6A and 8 of the ASIC Corporations (Externally-Administered Bodies) Instrument 2015/251 in respect of its requirements to: lodge its annual report for the financial year ending 30 June 2023 within 3 months after the end of the financial year under section 319 of the Corporations Act 2001 (Cth) (Act); send its annual report for the financial year ending 30 June 2023 to its shareholders within 4 months after the end of the financial year under sections 314 and 315 of the Act; and hold an annual general meeting at least once in each calendar year and within 5 months after the end of its financial year under section 250N of the Act. As a consequence of the deferral relief granted pursuant to the Instrument, the Company is not required to lodge with ASIC and report to shareholders its audited financial reports for the financial year ended 30 June 2023 for a period of 6 months from the initial appointment of the Administrators, being until 18 February 2024.

02/10/2023

The first meeting of creditors of the Company was held on Wednesday, 30 August 2023. At the meeting, creditors ratified the appointment of the Administrators and elected not to appoint a Committee of Inspection at that time. The first meetings of creditors of the Subsidiaries were held on Tuesday, 5 September 2023. At the meetings, creditors ratified the appointment of the Administrators and elected not to appoint a Committee of Inspection at that time. The second meeting of creditors of the Company was held on Friday, 22 September 2023. At the meeting, creditors resolved that the meeting should be adjourned for a period of up to 45 business days in accordance with the Administrators' recommendation. The second meetings of creditors of the Subsidiaries were held on Friday, 22 September 2023. At the meetings, creditors resolved that the meetings should be adjourned for up to 45 business days in accordance with the Administrators' recommendation. A number of parties have contacted the Administrators to express interest in acquiring all or some of the Company's assets and/or submitting a proposal to recapitalise and/or restructure the Company. The Administrators are working with these interested parties to conclude the realisation program in the adjournment period and prior to reconvening of the second meeting of creditors on or before 24 November 2023.

22/09/2023

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

Mr Bryan Hughes and Mr Christopher Pattinson of Pitcher Partners were appointed as Joint and Several Administrators of the Company.

18/08/2023

WFL expects the suspension to last until an announcement is made which should be no later than before commencement of trading on Friday, 18th August 2023.

11/08/2023

WFL expects the suspension to last until an announcement is made which should be no later than before commencement of trading on Friday, 11th August 2023.

08/08/2023

The company's securities will be suspended from quotation under Listing Rule 17.5 from the commencement of trading today, Tuesday, 1 August 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 Monday, 31 July 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.

01/08/2023

The securities of Wellfully Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of WFL, pending the release of an announcement regarding finalisation of a material partnership agreement.

31/07/2023

The suspension of trading in the securities of Wellfully Limited will be lifted from the commencement of trading on Tuesday, 11 April 2023 following lodgement of its Appendix 4D and Half Year Report.

06/04/2023

The company releases a notice of proposed issue of securities.

06/04/2023

The company announces a capital raise of up to $1.49 million via commitments from sophisticated and professional investors of CPS Capital Group. The placement is to sophisticated and professional investors as introduced by the CPS Capital. The placement will comprise of a maximum issue of up to 135,454,545 fully paid ordinary shares at $0.011 per share. This represents a discount of 20% to the 5 day VWAP of $0.014 per share, calculated for the 5 day period prior to the company entering into a trading halt on 20 February 2023. The company obtained shareholder approval at its Extraordinary General Meeting held on 25 January 2023. 99,090,909 shares will be issued utilising this approval under Listing Rule 7.1 for the placement. The remaining 36,363,636 shares will be subject to shareholder approval under Listing Rule 7.1 at a General Meeting proposed to be held in May 2023.

06/04/2023

The company has raised $1.5 million to fully satisfy and fund its current working capital obligations. By cutting unnecessary costs, waste and negotiating with existing creditors, the company has avoided extra dilution for current shareholders. The in-house DTC strategy is to provide for a more sustainable and valuable solution for the Company and the shareholders in two key areas:increasing inflows - accessing the most efficient commercial opportunities; and reducing cost and risk and increasing the cash runway. The company has embarked on debt restructuring projects to further bolster its balance sheet and working capital position. The debt restructuring projects are spearheaded by the conversion of loans and outstanding fees of Paul Peros, a related party of the company, in the amount of $410,000 that will be converted, if approved by shareholders, into 16,400,000 ordinary WFL shares at a conversion price of $0.025 vs the $0.011 placement price. The company has also agreed to convert a $100,000 convertible loan with AL Hinrichsen & NW Hinrichsen, being a partnership associated with an existing nonsubstantial shareholder of Wellfully, Mr Neville Hinrichsen into shares. The company is continuing to work on organisational restructuring with a view to streamlining operations and reducing operational costs. The company has engaged Dyamond Trading and Consulting to support the company's investor relations activities with existing and potential investors over the next six months.

06/04/2023

The company lodges its Appendix 4D & 2022 Half Year Report.

06/04/2023

The company has determined to formally cease negotiations regarding The BrandBase as a result of being unable to agree to terms unacceptable to Welfully and the TBB Administrators. Wellfully considers an in-house solution for DTC market access to be the best approach to manage the growth and scale of the Wellfully business without significant upfront cash outflows.

30/03/2023

The company is working to complete and announce the results of the proposed capital raise as soon as practical. The company will be delayed in reporting its financial results or the six month period ended 31 December 2022 due to a delay in receiving certain of its overseas subsidiaries' financial information, which delayed the half year report preparation and review. An announcement on the abovementioned is expected to be made no later than before the commencement of trading on 10 March 2023.

27/02/2023

The Company accordingly requests an extension to the voluntary suspension to the quotation of its securities pending the completion and announcement of the results of its proposed capital raise. WFL expects the suspension to last until an announcement is made which will be no later than before commencement of trading on Monday, 27 February 2023.

23/02/2023

The securities of Wellfully Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of WFL, pending the release of an announcement regarding a capital raise.

21/02/2023

The suspension of trading in the securities of Wellfully Limited will be lifted immediately following the release by WFL of a response to ASX's price and volume query dated 29 November 2022.

06/12/2022

The company has completed a non-binding MOU with The Brandbase, a group of private companies consisting of Natural Mojo GmbH, Skingood Garden UG and IG Group Services GmbH, currently under the ownership and control of Capital D, a London-based Private Equity firm to merge with Wellfully.

06/12/2022

The company issues a response to ASX Price and Volume Query.

06/12/2022

The securities of Wellfully Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of WFL, pending the release of a response to ASX's price and volume query dated 29 November 2022.

30/11/2022

The suspension of trading in the securities of Wellfully Limited will be lifted immediately following WFL's appointment of sufficient directors to comply with section 201A(2) of the Corporations Act 2001 (Cth).

18/11/2022

In relation to the contractual agreement with Dyamond Trading and Consulting, the Company advise that it will not be issuing the second 5,000,000 tranche shares (part two) on the basis of the issue not satisfying, in ASX's opinion, the requirements of listing rule 6.1. The Company will now look to renegotiate in good faith with Dyamond. GAKS Investments Holdings previously held a substantial shareholding in Wellfully between approximately 31 August 2021 and 21 October 2021. The GAKS holdings were included in the Company's Top 20 Holders Report released to ASX on 8 September 2021. These shares were disposed of on or around 8 April 2022. The Company is not aware of the reasons as to why GAKS did not notify the Company of any such disposal.

18/11/2022

WFL expects the suspension to last until an announcement is made which will be no later than before commencement of trading on Monday, 21 November 2022.

17/11/2022

WFL expects the suspension to last until an announcement is made which will be no later than before commencement of trading on Thursday, 17 November 2022

15/11/2022

The securities of Wellfully Limited will be suspended from quotation immediately under Listing Rule 17.2 at the request of WFL, pending WFL's appointment of sufficient directors to comply with section 201A(2) of the Corporations Act 2001 (Cth).

15/11/2022

The suspension of trading in the securities of Wellfully Limited will be lifted immediately, following the release by WFL of an announcement regarding the outcome of the Company's application to the Supreme Court of Western Australia seeking orders in relation to the Company's inadvertent failure to lodge a cleansing notice under section 708A(5)(e) of the Corporations Act 2001 (Cth) in relation to the issue of 21,973,070 shares on 22 February 2021 and 41,360,263 shares on 9 April 2021.

19/04/2021

Orders were granted as sought by the Company today by the Supreme Court of Western Australia primarily in respect of the cleansing notices related to the 21,973,070 shares on 22 February 2021 and 41,360,263 shares on 9 April 2021.

19/04/2021

The company releases a cleansing prospectus for the purposes of section 708A(11) of the Corporations Act 2001 (Cth).

19/04/2021

The securities of Wellfully Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of WFL, pending the release of an announcement regarding an application to the Court seeking orders in relation to the issues of 21,973,070 shares on 22 February 2021 and 41,360,263 shares on 9 April 2021.

14/04/2021

name changed from OBJ Limited

15/09/2020

 

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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
    05/05/2021Steven Schapera130,000$0.060$7,800
    05/05/2021Anthony Wright833,333$0.060$49,982
    04/05/2021Steven Schapera730,000$0.058$42,010
    22/12/2020Steven Schapera180,291$0.140$25,241
    09/10/2018Steven Schapera1,100,000$0.022$24,287

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    John ForresterNon Exec Chairman18/05/2023
    Sergej DolezilCFO01/05/2021
    Lea ClothierNon Exec Director09/06/2023

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Paul PerosManaging Director, CEO14/04/202016/08/2023
    Bill PavlovskiNon Exec Director09/06/202320/06/2023
    David WheelerNon Exec Chairman01/02/202309/06/2023
    Andrew WortlockNon Exec Director18/11/202218/05/2023
    Jeff EdwardsManaging Director07/10/200422/03/2023
    Steven SchaperaNon Exec Director01/08/201731/12/2022
    Antony EatonNon Exec Director14/04/202203/08/2022
    Antonio VaranoNon Exec Director15/05/201830/06/2022
    Anthony WrightNon Exec Director14/04/202114/04/2022
    Cameron ReynoldsNon Exec Director01/07/201801/12/2021
    Christopher QuirkNon Exec Director19/11/200430/04/2020
    Glyn DenisonDirector22/02/200620/02/2018

    Date of first appointment, title may have changed.