Document ID: chunk:federal_register_of_legislation:C2025C00185:section:665b
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 665B
Character Range: 2640126–2641954

665B  100% holder to tell holders of convertible securities of their right to be bought out

Notice to holders of convertible securities
 (1) The 100% holder must:
 (a) prepare a notice in the prescribed form that:
 (i) states that the person giving the notice has acquired all the securities in the main class; and
 (ii) sets out the information that was included in the compulsory acquisition notice given in relation to securities in the main class under paragraphs 664C(1)(d) and (e); and
 (iii) sets out the cash sum for which they are willing to acquire the convertible securities; and
 (iv) informs the holder of convertible securities about their right to be bought out under this Part; and
 (b) lodge the notice with ASIC; and
 (c) give each other person who is a holder of convertible securities on the day on which the notice is lodged with ASIC:
 (i) the notice; and
 (ii) a copy of the expert's report, or all experts' reports, under section 667A; and
 (d) give a copy of the documents to the company that issued the securities; and
 (e) give a copy of the documents to each relevant market operator on the same day as it is lodged with ASIC if the company is listed.
Note 1: Subparagraph (a)(iv)—Section 667A deals with the contents of an expert's report.
Note 2: The notice is to be given to everyone who holds convertible securities on the day on which the notice is lodged with ASIC. Under section 665C, anyone who holds the securities after that day may require the 100% holder to acquire the securities.

Time for dispatching notice to holders
 (2) The 100% holder must dispatch the notices and reports under paragraph (1)(c):
 (a) within 1 month after they become the 100% holder; and
 (b) on the day the 100% holder lodges the notice with ASIC or on the next business day.
The notices cannot be withdrawn.