RABI:CC - ADRABBIT Announces Delisting and Removal from Official List of ASX
(TheNewswire)
SYDNEY, AUSTRALIA – TheNewswire - June 2, 2022 / AdRabbit Limited (TSXV:RABI ) / ( ASX:RAB) (the " Company "), an AI-based advertising andmarketing platform for small and medium companies, announces that,further to its press release dated March 23, 2022, its fully paid ordinary shares (the" Shares ") were suspended from official quotation on theAustralian Securities Exchange (the " ASX ") after theclose of market on May 30, 2022, and subsequently removed from theOfficial List of the ASX (the " De-Listing ")effective at the close of market on Thursday, June 2, 2022 (the" De-ListingDate "). In accordance with Listing Rule17.11, as previously announced, the ASX imposed a requirement for theCompany to obtain shareholder approval for the De-Listing, which wasobtained at the Extraordinary General Meeting of Shareholders of theCompany held on May 2, 2022. Following the De-Listing, the Shareswill continue to trade on the TSX Venture Exchange (the" TSXV ") under the stock symbol "RABI".
As at the date hereof, approximately 80,285,515 fullypaid ordinary shares have been moved by shareholders to the Company'sCanadian transfer agent, Odyssey Trust Company, allowing them to tradeon the TSXV, which represents approximately 44% of all voting sharescurrently issued and outstanding. The Company anticipates that thesenumbers may continue to increase following the De-Listing Date.
After the De-Listing Date, as previously announced,Australian-based shareholders who wish to sell their Shares will needto make arrangements with a broker that is registered with the TSXV.The TSXV publishes a directory of TSX Venture Exchange Members who canassist security holders in the disposal of their securities, which canbe found on its website at: https://www.tsx.com/trading/accessing-our-markets/member-firm-directory?l=A .
On the De-Listing Date, Shares in the Company will nolonger be quoted or traded on the ASX and shareholders will only beable to sell their Shares via on-market sales on the TSXV oroff-market private transactions (subject to compliance with the Corporations Act2001 (Cth) (the " Corporations Act ")) .
After the Company has been removed from the OfficialList of the ASX, the Company will no longer havethe capability to update shareholders and the market via the ASXplatform. In addition , and as previouslyannounced, while the Company continues to have in excess of 100Shareholders: (i) the Company will remain subject to the continuousdisclosure regime under section 675 of the Corporations Act; (ii) theCompany will continue to be subject to obligations to prepare auditedannual and half-yearly financial statements under Part 2M.3 of theCorporations Act (in addition to the requirements under applicableCanadian securities laws, such as the requirement to file quarterlyinterim financial statements and annual audited financial statements);and (iii) the Company will be required to hold an annual generalmeeting of shareholders at least once each calendar year and withinfive months after the end of its financial year in accordance withsection 250N of the Corporations Act.
The Company will continue to post the requiredinformation on the Company's profile on the System for ElectronicDocument Analysis and Retrieval (SEDAR) at www.sedar.com as required byapplicable Canadian securities laws and the policies of the TSXV or onthe Company's website: https://ad-rabbit.com/ .
The Company further announces that effective as of theDe-Listing Date, under Canadian securities laws, the Company will nolonger qualify as a "designated foreign issuer" as definedunder National Instrument 71-102 - Continuous Disclosure and Other Exemptions Relating to Foreign Issuers , and it will be required to comply with all applicableCanadian continuous disclosure requirements applicable to a reportingissuer in the applicable provinces of Canada.
For further information, please contact:
David Hwang
Company Secretary
david.hwang@automicgroup.com.au
About AdRabbit Limited
AdRabbit develops an AI-based advertising and marketingplatform for small and medium companies that enables them to runautomated large-scale advertising and marketing campaigns both onlineand on social media, including top-tier networks such as Facebook.
The AdRabbit platform provides a complete advertisingcycle, from ad design and creation, budget and channelrecommendations, analytics, and campaign management, to the leadfunnel.
The AdRabbit platform is accessible as a mobileapplication on iOS and Android.
AdRabbit's ordinary shares commenced trading on the TSXVenture Exchange under the stock symbol "RABI" effectiveFebruary 7, 2022.
TSX Venture Exchange
Neither the Exchange nor itsRegulation Services Provider (as such term is defined in the policiesof the Exchange) accepts responsibility for the adequacy or accuracyof this news release.
Caution Regarding Forward LookingStatements
The information in this news releaseincludes certain information and statements about management’s viewof future events, expectations, plans and prospects that constituteforward looking statements. These statements are based uponassumptions that are subject to significant risks and uncertainties,including those “Risk Factors” contained in the ListingApplication of the Company dated November 15, 2021 and available at www.sedar.com .Forward looking statements in this news release include, but are notlimited to, the anticipated increase to the number of voting Sharesmoved over by shareholders to the Canadian register. Because of theserisks and uncertainties, the actual results, expectations,achievements or performance may differ materially from thoseanticipated and indicated by these forward-looking statements.Although the Company believes that the expectations reflected inforward looking statements are reasonable, it can give no assurancesthat the expectations of any forward-looking statement will prove tobe correct. Except as required by law, the Company disclaims anyintention and assumes no obligation to update or revise anyforward-looking statements to reflect actual results, whether as aresult of new information, future events, changes in assumptions,changes in factors affecting such forward looking statements orotherwise.
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