Company Encyclopedia
View More
name
Vonex Limited
VN8.AU
News
View More

Court Approves Acquisition of Vonex by MaxoTel

The Supreme Court of New South Wales has approved Vonex Limited's acquisition by Maxo Telecommunications Pty Ltd. Following this, Vonex will file the court's orders with the Australian Securities and Investments Commission, making the acquisition legally effective. Vonex's shares will be suspended from trading on the ASX, with a planned delisting on October 21, 2025. Vonex is a telecommunications company focused on infrastructure solutions and VoIP services for small to medium enterprises.

Tip Ranks·
Tip Ranks·

Swoop Holdings Makes Unconditional Takeover Offer for Vonex

Swoop Holdings Limited has announced that its off-market takeover offer for Vonex Limited is now unconditional, allowing it to acquire up to 100% of Vonex's issued share capital. Swoop currently holds a 21.42% voting power in Vonex. This strategic move aims to strengthen Swoop's position in the telecommunications sector. Swoop Holdings operates through its subsidiary, Swoop Telecommunications Pty Ltd, focusing on expanding its market presence through acquisitions.

Tip Ranks·
Tip Ranks·

Vonex Limited Reports Stable Cash Flow Amidst Operational Focus

Vonex Limited (AU:VN8) reported a net cash inflow of $779,000 from operating activities for the quarter, despite a slight decrease in cash from investing activities and a net cash outflow from financing activities. The company ended the period with a stable cash position of $3.109 million, reflecting effective management of operational costs. Vonex operates in the telecommunications sector, providing services to residential and business clients. Current market cap stands at A$16.56M with a consensus rating of Sell.

Tip Ranks·
Tip Ranks·

Vonex Limited Announces Termination of Maxo Deal Amid Swoop Opposition

Vonex Limited has announced the termination of its Scheme Implementation Deed with Maxo Telecommunications due to opposition from Swoop Telecommunications. The existing cash offer from MaxoTel will close on January 28, 2025, and the Vonex Board recommends shareholders accept this offer. Additionally, the Board is exploring options to repay a $23 million debt facility, which may involve discussions with other debt providers or a capital raise. With MaxoTel acquiring a majority interest in Vonex shares, Swoop's conditional offer is unlikely to proceed.

Tip Ranks·
Tip Ranks·

Vonex Director Sells Shares as MaxoTel Gains Majority

Vonex Limited's director, Jason Gomersall, has sold around 7 million shares to Maxo Telecommunications, which now owns over 50% of Vonex. This sale extends MaxoTel's unconditional takeover offer until January 1, 2025. Vonex shareholders are encouraged to evaluate the current offer, as alternative proposals may not fulfill necessary conditions.

Tip Ranks·
Tip Ranks·