In a statement to users, the vendor said the upcoming listing on the ASX of TEAC Australia through TTA Holdings Limited heralds the next phase in the company’s development.
The business of TEAC Australia will be acquired and become the sole business of a currently listed company known as Austral Waste Group Ltd. It will be renamed TTA Holdings Limited of which TT International will own 87 percent.
Austral Waste Group has already issued a prospectus to raise a small amount of additional capital (3,000,000 million shares at 20 cents each).
The principal purpose of the issue, however, is to gain shareholder spread. Customers of TEAC Australia are invited to become shareholders in TTA Holdings Limited by putting forward an application for 10,000 shares at 20 cents each (total of $2,000).
Mark Ewing chairman of Austral Waste Group said the closing date for subscription was originally listed as 25 March, but has now been extended to 11 April.
TEAC plans to list on the ASX
By
Lilia Guan
on Apr 2, 2008 10:48AM
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