Federal Court Orders Granted
Further to Environmental Clean Technologies Limited’s (ECT or Company) trading halt announcement dated 26 August 2021, the Company advises that today its application to the Federal Court of Victoria was heard to rectify the non-issue of a cleansing notice for the issue on 14 July 2021 of 50,000,000 listed options (ASX:ECTOE).
Through an inadvertent administrative oversight, a cleansing notice under section 708(5)(e) of the Corporations Act (Cth) 2001 was not given to ASX within 5 days after the date of issue of the 50,000,000 options. This issue was identified by the Company and was reported to both ASIC and ASX.
The Company is pleased to confirm that at the hearing this afternoon, the Court made the orders sought by the Company. A copy of the Court orders is attached to this announcement. A copy of the Court orders has been served on ASIC. The Company will also forward a copy of the Court orders to all shareholders that received the options.
The Company will lodge a cleansing notice for the 50,000,000 options in accordance with the Court order.
This announcement has been approved and authorised to be given to the ASX by the Board of ECT.
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