공시 • Oct 20
Maxo Telecommunications Pty Ltd completed the acquisition of remaining 30.62% stake in Vonex Limited (ASX:VN8) from Swoop Telecommunications Pty Limited. Maxo Telecommunications Pty Ltd entered into a Scheme Implementation Deed to acquire remaining 30.62% stake in Vonex Limited (ASX:VN8) from Swoop Telecommunications Pty Limited for AUD 8.3 million on July 4, 2025. As part of the acquisition, Maxo Telecommunications will acquire 230 million shares at a price of AUD 0.036 per share by way of a scheme of arrangement. If the Scheme is approved, this will result in total cash proceeds of approximately AUD 6.17 million for Swoop. Swoop has provided a voting intention statement to Vonex confirming its intention to vote all the 171,282,368 Vonex shares owned by it in favor of the scheme. Upon completion of the Scheme, Swoop will no longer hold an equity interest in Vonex. Upon completion, Maxo Telecommunications Pty Ltd will own 100% stake in Vonex Limited and will apply to ASX to suspend trading on the ASX with effect from the close of trading on the Effective Date. Maxo Telecommunications has a reasonable basis to expect that it will, by the Implementation Date have available to it sufficient cash amounts (whether from internal cash reserves or external funding arrangements, including equity and debt financing or a combination of both) to satisfy the Bidder’s obligation to provide or procure the provision of the Scheme Consideration in accordance with its obligations under this document, the Scheme and the Deed Poll.
The transaction is subject to approval of Vonex shareholders which is currently expected to be held in or around late September 2025, subject to regulatory approval, other customary conditions to a scheme of arrangement such as court approval from Federal Court of Australia and an Independent Expert concluding. The deal has been unanimously approved by the board of directors of Vonex recommends that shareholders vote in favor of the scheme. Vonex is bound by customary exclusivity provisions including “no shop” and “no talk” restrictions, a notification obligation and a matching right in favor of MaxoTel, subject to Vonex Directors’ fiduciary obligations where appropriate. The Scheme is expected to be implemented around October 15, 2025. As of July 29, 2025, an independent expert’s report in respect of the Scheme has been obtained and a draft Scheme booklet, containing the IER and draft notice of meeting has today been lodged with the Australian Securities and Investments Commission (ASIC) for their review. The The Scheme Meeting, at which Vonex shareholders will vote on the proposed Scheme, is scheduled to be held at 10:00 am Brisbane time on Tuesday September 23, 2025. The Independent Directors unanimously recommend that, in the absence of a superior proposal and subject to the Independent Expert continuing to conclude that the Scheme is in the best interests of Vonex Shareholders, Vonex Shareholders vote in favor of the Scheme. As of August 21, 2025, the scheme is expected to be implemented on October 20, 2025. As of September 23, 2025, the transaction has been approved by the shareholders of Vonex Limited.
Latimer Partners Pty Ltd acted as financial advisor to Vonex Limited. Stefan Luke of Carter Newell Lawyers acted as legal advisor to Vonex Limited. Computershare Investor Services Pty Limited acted as transfer agent/registrar to Vonex Limited. Titan Partners Group LLC acted as fairness opinion provider to Vonex Limited.
Maxo Telecommunications Pty Ltd completed the acquisition of remaining 30.62% stake in Vonex Limited (ASX:VN8) from Swoop Telecommunications Pty Limited on October 20, 2025. With this effect, all existing directors (other than Michael Blake) and the company secretary have resigned, Alex Rich has been appointed as Director and Company Secretary, and Elyse Rich has been appointed as a Director. Trading in Vonex shares on the ASX was suspended at the close of October 9, 2025 as previously announced, and expects to be delisted from the ASX tomorrow. Reported Earnings • Aug 28
Full year 2025 earnings released: EPS: AU$0 (vs AU$0.004 loss in FY 2024) Full year 2025 results: EPS: AU$0 (improved from AU$0.004 loss in FY 2024). Revenue: AU$44.8m (down 7.1% from FY 2024). Net loss: AU$118.1k (loss narrowed 91% from FY 2024). Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. New Risk • Jun 16
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$15.1m (US$9.81m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Negative equity (-AU$4.0m). Earnings have declined by 21% per year over the past 5 years. Shareholders have been substantially diluted in the past year (108% increase in shares outstanding). Market cap is less than US$10m (AU$15.1m market cap, or US$9.81m). Board Change • Apr 28
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. CEO & Director Michael Blake was the last director to join the board, commencing their role in 2025. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. 공시 • Feb 04
Vonex Limited has filed a Follow-on Equity Offering in the amount of AUD 13.923165 million. Vonex Limited has filed a Follow-on Equity Offering in the amount of AUD 13.923165 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 376,301,763
Price\Range: AUD 0.037
Transaction Features: Rights Offering 
