Perth tech company seeks ASX listing

06/11/2015 - 13:41

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Perth-based app services company Global Agenda Technologies is seeking an ASX listing through a reverse takeover of Marion Energy.

Perth tech company seeks ASX listing

Perth-based app services company Global Agenda Technologies is seeking an ASX listing through a reverse takeover of Marion Energy.

Agenda is a private technology company which operates business-to-consumer sales, automated booking services, and a peer-to-peer communication app platform.

The platform is currently being developed as a smartphone app and web-based software, linking businesses and consumers based on consumer profiling, social networking and location services.

Under the terms of the deal, Marion will wholly acquire Agenda in exchange for 2.5 million shares at 2 cents each, valuing the deal at $50,000.

Marion will also issue 25 million deferred consideration shares at the same price, subject to Agenda meeting certain performance milestones, and will be required to complete a minimum $3.6 million capital raising at no less than 2 cents per share, in order to comply with ASX re-listing rules.

If the deal is successful, the new company will be renamed Cre8tek, and will adopt Agenda’s business model.

Its board will comprise Perth company director and corporate adviser Faldi Ismail, Bellanhouse Legal principal Bryn Hardcastle and Carbine Resources director Tom Bahen.

Marion ceased trading on the ASX in 2011, and earlier this year entered into a deed of company arrangement with Otsana Capital to recapitalise the business.

The company is yet to set a date on when it expects to begin trading on the ASX.

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