RESPONSE TO ASX QUERY
We refer to your letter of 27 January 2000.
The interview with Mr Craig Manners, a former Director of the
Company, was published on an Internet chat site in Germany and a copy
of the English translation of the interview is attached. In the
interview Mr Manners is incorrectly referred to as the Chairman.
Mr Manners has advised the Company that the published interview
differs in a number of material respects from the text of the actual
interview.
The Directors other than Messrs Manners and Flynn were unaware of the
interview and only Mr Manners was aware that the interview was
reported on the chat site. The report of the interview was in German
and so Mr Manners was unaware of what had been published until
receiving the attached translation.
At a meeting of shareholders held on the 19 November 1999, the
Company was authorised by its shareholders to change its activity to
include strategic investments in technology based companies. The
Company intends to prepare a Information Memorandum for shareholders
detailing its strategy in relation to such investments. This strategy
has been the subject of announcements made on 13 August, 1 September,
the Explanatory Memorandum in the Prospectus dated 20 October, the
September quarterly, the Annual Report and in further announcements
on 9 November, 10 and 15 December. The Directors consider the market
has been informed about the Company's strategy in relation to its
intention to undertake strategic investments into technology based
companies.
Turning to the specific issues raised by the Australian Stock
Exchange Limited ("ASX") the Company comments as follows:
1. The Company provided its response on 27 January 2000 to an ASX
price query raised on that date based on the advice of those
Directors who were in Australia and available for comment. At that
time the Directors, other than Messrs Manners and Flynn, were not
aware of the interview held on the 14th and none of the Directors
were aware of what was published as a result of the interview either
because of the interview being published in German or because they
didn't know of the interview. The Directors became aware when the
matter was brought to the attention of the Company by the ASX and
translated into English. In relation to the share price movements and
the volumes traded, this was considered by the Company to be public
information and hence was not the subject of any comment in relation
to the Company's response to the ASX queries.
The Company had previously responded to price queries on 29 December
1999 and 17 January 2000 providing the possible explanation for the
price changes at that time as being due to the European investment
community interest in the Company and the strategic alliance between
FreeISP and Yahoo! Australia and New Zealand. The Directors did not
include this explanation in their release on 27 January 2000 on the
basis this information was already known to the market and was not
something that was new or provided an additional explanation for the
price movements.
2. See the response in 1 above.
3. The Company considered it had provided the information required
under Listing Rule 3.1 regarding its change of activities. In the
resolution put to shareholders on 19 November 1999, approval was
obtained for the Company to expand its activities to include
strategic investments in technology based companies. This is a broad
description. This change was supported by the explanatory material
provided to shareholders in relation to that resolution. Subsequent
to sending the meeting materials to shareholders, the Company, in its
20 October 1999 Prospectus, made reference to its investments into an
information technology company and into an Internet company. Further,
in its announcement on 9 December 1999, the Company stated that:
(a) it was currently researching a number of commercially focused
telecommunications, technology and Internet companies in which to
invest venture capital and to assist those companies to reach the IPO
stage; and
(b) it envisaged it could have up to 15 such investments by mid to
late 2000.
4. Other than with respect to the strategic alliance which Free ISP
has with Yahoo! Australia and New Zealand which the Company
announced, the Company has not made any announcements in relation to
any proposed transactions by the Company or Free ISP with top
Internet names. The view expressed in the interview may have been the
personal view of a Director however this has not been the subject of
any deliberation or consideration by the Board.
5. The Company has not resolved to make any placements. The view
expressed in the interview may have been the personal view of a
Director however this has not been the subject of any deliberation or
resolution of the Board.
6. The Board has been considering how best it can maximise the value
of its gold assets. The Board resolved to form the subsidiary,
Challenger Gold NL (named after the deposit) and to transfer all its
gold assets into that entity. The Board has not resolved to proceed
with a spin off float of its subsidiary and hence it had not made any
release on the matter, relying upon the carve outs to Listing Rule
3.1. Given what has been stated in the interview, the Board advises
the market that as part of its assessment of how to maximise value to
shareholders, the Board is still considering a spin-off of its gold
assets in the new entity. In the event a decision is made to spin-off
such an entity then shareholders will receive an entitlement to those
shares in accordance with the requirements of Listing Rule 11.4.
7. An agreement was entered into with Free ISP on 19 January 2000.
This was the date the Company received the announcement from Free
ISP. The announcement was released to the market on the same day. In
relation to what has bean stated in the interview, the Company has
been advised by Mr Manners that be was of the view that Free ISP was
expecting to enter into a transaction which was to be announced prior
to 19 January 2000. At the time Mr Manners gave the interview he
requested that an embargo be put on the publication of the interview
until 19 January 2000. Mr Manners has advised that at the time of the
interview he was not aware of the details of the transaction and was
unaware that the transaction was not concluded on 13 January as he
initially believed. The transaction was act in fact concluded until
19 January 2000.
8. The Directors advise shareholders that:
(a) the latest update of the register of members shows that
73,273,662 shares or 72.87% of the capital of the Company are
registered in the name of ANZ Nominees Limited. Enquiries have
commenced to determine who are the beneficial owners of these shares;
(b) on the basis of the Company's advices to the effect that the
Company knew of no reason why there had been price changes in the
Company's shares:
(i) a number of the Directors have sold shares or converted options
and sold the resultant shares in the Company in which they have an
entitlement. Those Directors whose shareholdings have been so
affected either have, or are in the process of filing details of
these sales; and
(ii) there have been rumours which the Directors are currently unable
to verify, that there are or may have been one or more investors who
have had to or may have to cover short selling in the Company's
shares; and
(c) since the last reporting, there have been the following movements
in issued capital due to conversion of options:
CLASSES OF OPTIONS CONVERTED
Expiring 30.12.2003 (listed) 12,883,628
Expiring 30.11.2000 (listed) 12,623,390
Expiring 31.01.2000 (unlisted) 173,000
Expiring 31.10.2000 (unlisted) 800,000
Expiring 30.11.2001 (unlisted) 3,000,000
CURRENT ISSUED CAPITAL
Fully paid shares 102,986,957
30.11.2000 options 16,716,864
30.11.2001 options (unlisted) 2,500,000
30.12.2003 options 16,307,069
The Company considers it is in compliance with Listing Rule 3.1.
G Swaby
COMPANY SECRETARY
A full copy of this announcement, including Interview with Craig
Manners, is available for purchase from ASX Customer Service on 1 300
300 279. Charges apply.
MORE TO FOLLOW
ADELONG CAPITAL LIMITED 2000-02-01 ASX-SIGNAL-G
HOMEX - Perth
+++++++++++++++++++++++++
ASX QUERY
We refer to the Company's announcement lodged with ASX on 27 January
2000 in response to an ASX share price query of the same date, and to
the transcript dated 14 January 2000 of an interview with Mr Craig
Manners, a director of the Company, conducted in German and available
on the internet @ www.wallstreetonline.de, a copy of which is
attached.
We regard timely disclosure of relevant information as of prime
importance in the operation of an efficient market. Listing rule 3.1
is a particularly important listing tale. It is part of ASX's
continuous disclosure, regime and is based on the following
principle:
"Timely disclosure must be made of information which may affect
security values or influence investment decisions, and information
in which security holders, investors and ASX have a legitimate
interest."
In relation to our question about whether the Company was aware of
any information concerning it which, had it been available to the
market, might reasonably be regarded as an explanation for recent
trading in the securities of the Company we note that the Company has
advised as follows:
"The Company is not aware of any information concerning it which,
had it been available to the market, might reasonably be regarded
as an explanation for recent trading in the securities of the
Company."
Further, in relation to out question about whether the Company was
able to offer any further explanation for the price change in the
securities of the Company we note that the Company has advised as
follows:
"The Company is not able to offer any further explanation for the
price change in the securities of the Company"
We understand that the transcript with Mr Manners who is a director
of the Company states the following:
* the Company is changing in industry and is becoming an internet and
telecommunications based venture capital company to take advantage
of the technical revolution currently occurring on a global scale
* Adelong expects that shortly a US Asian or European internet portal
or venture capital company will acquire a substantial share in
Adelong, participate at Board level and drive future long term
growth when the Company's share price hits 2-3 EURO dollars
* Adelong expects that it will shortly be able to announce a
co-operation with one of the top internet names
* FreeISP [a company in which the the Company holds a 20% interest]
has just signed contracts regarding a partnership with one of the
largest internet advertising companies in South East Asia.
* a placement is planned for when the Company's share price hits 1
EURO dollar
* Adelong plans to list its gold interests separately as Challenger
Gold Limited
We draw your attention to the definition of "aware" in chapter 19 of
the listing rules which states that:
"an entity becomes aware of information if a director or executive
officer (in the case of a trust, director or executive officer of
the responsible entity or management company) has, or ought
reasonably to have, come into possess of the information in the
course of the performance of their duties as a director or
executive officer of that entity".
We also draw to your attention to chapters 3 and chapter 11 of the
listing rules.
Having regard to the above, ASX requests that the Company advise on
the following;
1. On what basis did the Company provide the response that it was not
aware of any information concerning it which, had it been available
to the market, might reasonably be regarded as an explanation for
recent trading in the securities of the Company?
2. On what basis did the Company provide the response that it was not
able to offer any further explanation for the price change in the
securities of the Company?
3. Has the Company announced to ASX all the information above
regarding change of activities? If not, why not?
4. Has the Company announced to ASX the information above regarding
proposed transaction with top internet names? If not, why not?
5. Has the Company announced to ASX the information above regarding
placements? If not, why not?
6. Has the Company announced to ASX the information regarding the
spin-off of its gold assets? If not, why not?
7. Was the partnership agreement signed by FreeISP with one of the
largest internet advertising companies in South East Asia, referred
to above, the agreement between FreeISP and Space Media announced
on 19 January 2000? If so, why was that agreement not announced
until 19 January 2000?
8. Can the Company confirm to ASX that it is in compliance with the
listing rules and, in particular, listing rule 3.1?
The queries set out above cover matters of current specific interest
to us. However, we cannot be aware of all the information which would
be required to ensure that the market is properly informed in
accordance with listing rule 3.1. Accordingly, we would emphasise
that your responsibility under that listing rule is not confined to,
or necessarily satisfied by, answering the specific requests set out
in this letter.
If the information requested is information required to be released
pursuant to listing rule 3.1 your obligation is to disclose the
information immediately. Otherwise, your co-operation in lodging a
reply in a format suitable for release to the market is required as
soon as possible and, in any event, not later than half an hour prior
to the commencement of trading (ie prior to 6.30 am W.S.T) on Friday
28 January 2000. Your response should be sent directly to me on
facsimile number 9221 2020. It should not be sent to the Company
Announcements Office.
If you are unable to respond by that time you may wish to request a
trading halt in the Company's securities. As set out in listing rule
17.1 and the "Trading Halts" Guidance Note we may grant a trading
halt at your request. We may require the request to be in writing. We
are not required to act on your request. You must tell us each of the
following:
* The reasons for the trading halt.
* How long you want the trading halt to last.
* The event you expect to happen that will end the trading halt.
* That you are not aware of any reason why the trading halt should
not be granted.
* Any other information necessary to inform the market about the
trading halt, or that we ask for.
The trading halt cannot extend past the commencement of normal
trading on the second day after the day on which it is granted. If a
trading halt is requested and granted and you are still unable to
reply to this enquiry prior to the commencement of trading,
suspension from quotation would normally be imposed by us from the
commencement of trading if not previously requested by you.
The Company is also requested to provide to ASX a translation into
English of the transcript of interview attached to this letter. If
you have any queries on this letter, please do not hesitate to
contact the undersigned on 9224 0013.
J Moran
LISTINGS OFFICER
ASX
ADELONG CAPITAL LIMITED 2000-02-01 ASX-SIGNAL-G
HOMEX - Perth
+++++++++++++++++++++++++
ASX QUERY
We refer to the Company's announcement lodged with ASX on 27 January
2000 in response to an ASX share price query of the same date, and to
the transcript dated 14 January 2000 of an interview with Mr Craig
Manners, a director of the Company, conducted in German and available
on the internet @ www.wallstreetonline.de, a copy of which is
attached.
We regard timely disclosure of relevant information as of prime
importance in the operation of an efficient market. Listing rule 3.1
is a particularly important listing tale. It is part of ASX's
continuous disclosure, regime and is based on the following
principle:
"Timely disclosure must be made of information which may affect
security values or influence investment decisions, and information
in which security holders, investors and ASX have a legitimate
interest."
In relation to our question about whether the Company was aware of
any information concerning it which, had it been available to the
market, might reasonably be regarded as an explanation for recent
trading in the securities of the Company we note that the Company has
advised as follows:
"The Company is not aware of any information concerning it which,
had it been available to the market, might reasonably be regarded
as an explanation for recent trading in the securities of the
Company."
Further, in relation to out question about whether the Company was
able to offer any further explanation for the price change in the
securities of the Company we note that the Company has advised as
follows:
"The Company is not able to offer any further explanation for the
price change in the securities of the Company"
We understand that the transcript with Mr Manners who is a director
of the Company states the following:
* the Company is changing in industry and is becoming an internet and
telecommunications based venture capital company to take advantage
of the technical revolution currently occurring on a global scale
* Adelong expects that shortly a US Asian or European internet portal
or venture capital company will acquire a substantial share in
Adelong, participate at Board level and drive future long term
growth when the Company's share price hits 2-3 EURO dollars
* Adelong expects that it will shortly be able to announce a
co-operation with one of the top internet names
* FreeISP [a company in which the the Company holds a 20% interest]
has just signed contracts regarding a partnership with one of the
largest internet advertising companies in South East Asia.
* a placement is planned for when the Company's share price hits 1
EURO dollar
* Adelong plans to list its gold interests separately as Challenger
Gold Limited
We draw your attention to the definition of "aware" in chapter 19 of
the listing rules which states that:
"an entity becomes aware of information if a director or executive
officer (in the case of a trust, director or executive officer of
the responsible entity or management company) has, or ought
reasonably to have, come into possess of the information in the
course of the performance of their duties as a director or
executive officer of that entity".
We also draw to your attention to chapters 3 and chapter 11 of the
listing rules.
Having regard to the above, ASX requests that the Company advise on
the following;
1. On what basis did the Company provide the response that it was not
aware of any information concerning it which, had it been available
to the market, might reasonably be regarded as an explanation for
recent trading in the securities of the Company?
2. On what basis did the Company provide the response that it was not
able to offer any further explanation for the price change in the
securities of the Company?
3. Has the Company announced to ASX all the information above
regarding change of activities? If not, why not?
4. Has the Company announced to ASX the information above regarding
proposed transaction with top internet names? If not, why not?
5. Has the Company announced to ASX the information above regarding
placements? If not, why not?
6. Has the Company announced to ASX the information regarding the
spin-off of its gold assets? If not, why not?
7. Was the partnership agreement signed by FreeISP with one of the
largest internet advertising companies in South East Asia, referred
to above, the agreement between FreeISP and Space Media announced
on 19 January 2000? If so, why was that agreement not announced
until 19 January 2000?
8. Can the Company confirm to ASX that it is in compliance with the
listing rules and, in particular, listing rule 3.1?
The queries set out above cover matters of current specific interest
to us. However, we cannot be aware of all the information which would
be required to ensure that the market is properly informed in
accordance with listing rule 3.1. Accordingly, we would emphasise
that your responsibility under that listing rule is not confined to,
or necessarily satisfied by, answering the specific requests set out
in this letter.
If the information requested is information required to be released
pursuant to listing rule 3.1 your obligation is to disclose the
information immediately. Otherwise, your co-operation in lodging a
reply in a format suitable for release to the market is required as
soon as possible and, in any event, not later than half an hour prior
to the commencement of trading (ie prior to 6.30 am W.S.T) on Friday
28 January 2000. Your response should be sent directly to me on
facsimile number 9221 2020. It should not be sent to the Company
Announcements Office.
If you are unable to respond by that time you may wish to request a
trading halt in the Company's securities. As set out in listing rule
17.1 and the "Trading Halts" Guidance Note we may grant a trading
halt at your request. We may require the request to be in writing. We
are not required to act on your request. You must tell us each of the
following:
* The reasons for the trading halt.
* How long you want the trading halt to last.
* The event you expect to happen that will end the trading halt.
* That you are not aware of any reason why the trading halt should
not be granted.
* Any other information necessary to inform the market about the
trading halt, or that we ask for.
The trading halt cannot extend past the commencement of normal
trading on the second day after the day on which it is granted. If a
trading halt is requested and granted and you are still unable to
reply to this enquiry prior to the commencement of trading,
suspension from quotation would normally be imposed by us from the
commencement of trading if not previously requested by you.
The Company is also requested to provide to ASX a translation into
English of the transcript of interview attached to this letter. If
you have any queries on this letter, please do not hesitate to
contact the undersigned on 9224 0013.
J Moran
LISTINGS OFFICER
ASX
ADELONG CAPITAL LIMITED 2000-02-01 ASX-SIGNAL-G
HOMEX - Perth
+++++++++++++++++++++++++
ASX QUERY
We refer to the Company's announcement lodged with ASX on 27 January
2000 in response to an ASX share price query of the same date, and to
the transcript dated 14 January 2000 of an interview with Mr Craig
Manners, a director of the Company, conducted in German and available
on the internet @ www.wallstreetonline.de, a copy of which is
attached.
We regard timely disclosure of relevant information as of prime
importance in the operation of an efficient market. Listing rule 3.1
is a particularly important listing tale. It is part of ASX's
continuous disclosure, regime and is based on the following
principle:
"Timely disclosure must be made of information which may affect
security values or influence investment decisions, and information
in which security holders, investors and ASX have a legitimate
interest."
In relation to our question about whether the Company was aware of
any information concerning it which, had it been available to the
market, might reasonably be regarded as an explanation for recent
trading in the securities of the Company we note that the Company has
advised as follows:
"The Company is not aware of any information concerning it which,
had it been available to the market, might reasonably be regarded
as an explanation for recent trading in the securities of the
Company."
Further, in relation to out question about whether the Company was
able to offer any further explanation for the price change in the
securities of the Company we note that the Company has advised as
follows:
"The Company is not able to offer any further explanation for the
price change in the securities of the Company"
We understand that the transcript with Mr Manners who is a director
of the Company states the following:
* the Company is changing in industry and is becoming an internet and
telecommunications based venture capital company to take advantage
of the technical revolution currently occurring on a global scale
* Adelong expects that shortly a US Asian or European internet portal
or venture capital company will acquire a substantial share in
Adelong, participate at Board level and drive future long term
growth when the Company's share price hits 2-3 EURO dollars
* Adelong expects that it will shortly be able to announce a
co-operation with one of the top internet names
* FreeISP [a company in which the the Company holds a 20% interest]
has just signed contracts regarding a partnership with one of the
largest internet advertising companies in South East Asia.
* a placement is planned for when the Company's share price hits 1
EURO dollar
* Adelong plans to list its gold interests separately as Challenger
Gold Limited
We draw your attention to the definition of "aware" in chapter 19 of
the listing rules which states that:
"an entity becomes aware of information if a director or executive
officer (in the case of a trust, director or executive officer of
the responsible entity or management company) has, or ought
reasonably to have, come into possess of the information in the
course of the performance of their duties as a director or
executive officer of that entity".
We also draw to your attention to chapters 3 and chapter 11 of the
listing rules.
Having regard to the above, ASX requests that the Company advise on
the following;
1. On what basis did the Company provide the response that it was not
aware of any information concerning it which, had it been available
to the market, might reasonably be regarded as an explanation for
recent trading in the securities of the Company?
2. On what basis did the Company provide the response that it was not
able to offer any further explanation for the price change in the
securities of the Company?
3. Has the Company announced to ASX all the information above
regarding change of activities? If not, why not?
4. Has the Company announced to ASX the information above regarding
proposed transaction with top internet names? If not, why not?
5. Has the Company announced to ASX the information above regarding
placements? If not, why not?
6. Has the Company announced to ASX the information regarding the
spin-off of its gold assets? If not, why not?
7. Was the partnership agreement signed by FreeISP with one of the
largest internet advertising companies in South East Asia, referred
to above, the agreement between FreeISP and Space Media announced
on 19 January 2000? If so, why was that agreement not announced
until 19 January 2000?
8. Can the Company confirm to ASX that it is in compliance with the
listing rules and, in particular, listing rule 3.1?
The queries set out above cover matters of current specific interest
to us. However, we cannot be aware of all the information which would
be required to ensure that the market is properly informed in
accordance with listing rule 3.1. Accordingly, we would emphasise
that your responsibility under that listing rule is not confined to,
or necessarily satisfied by, answering the specific requests set out
in this letter.
If the information requested is information required to be released
pursuant to listing rule 3.1 your obligation is to disclose the
information immediately. Otherwise, your co-operation in lodging a
reply in a format suitable for release to the market is required as
soon as possible and, in any event, not later than half an hour prior
to the commencement of trading (ie prior to 6.30 am W.S.T) on Friday
28 January 2000. Your response should be sent directly to me on
facsimile number 9221 2020. It should not be sent to the Company
Announcements Office.
If you are unable to respond by that time you may wish to request a
trading halt in the Company's securities. As set out in listing rule
17.1 and the "Trading Halts" Guidance Note we may grant a trading
halt at your request. We may require the request to be in writing. We
are not required to act on your request. You must tell us each of the
following:
* The reasons for the trading halt.
* How long you want the trading halt to last.
* The event you expect to happen that will end the trading halt.
* That you are not aware of any reason why the trading halt should
not be granted.
* Any other information necessary to inform the market about the
trading halt, or that we ask for.
The trading halt cannot extend past the commencement of normal
trading on the second day after the day on which it is granted. If a
trading halt is requested and granted and you are still unable to
reply to this enquiry prior to the commencement of trading,
suspension from quotation would normally be imposed by us from the
commencement of trading if not previously requested by you.
The Company is also requested to provide to ASX a translation into
English of the transcript of interview attached to this letter. If
you have any queries on this letter, please do not hesitate to
contact the undersigned on 9224 0013.
J Moran
LISTINGS OFFICER
ASX
ADELONG CAPITAL LIMITED 2000-02-01 ASX-SIGNAL-G
HOMEX - Perth
+++++++++++++++++++++++++
ASX QUERY
We refer to the Company's announcement lodged with ASX on 27 January
2000 in response to an ASX share price query of the same date, and to
the transcript dated 14 January 2000 of an interview with Mr Craig
Manners, a director of the Company, conducted in German and available
on the internet @ www.wallstreetonline.de, a copy of which is
attached.
We regard timely disclosure of relevant information as of prime
importance in the operation of an efficient market. Listing rule 3.1
is a particularly important listing tale. It is part of ASX's
continuous disclosure, regime and is based on the following
principle:
"Timely disclosure must be made of information which may affect
security values or influence investment decisions, and information
in which security holders, investors and ASX have a legitimate
interest."
In relation to our question about whether the Company was aware of
any information concerning it which, had it been available to the
market, might reasonably be regarded as an explanation for recent
trading in the securities of the Company we note that the Company has
advised as follows:
"The Company is not aware of any information concerning it which,
had it been available to the market, might reasonably be regarded
as an explanation for recent trading in the securities of the
Company."
Further, in relation to out question about whether the Company was
able to offer any further explanation for the price change in the
securities of the Company we note that the Company has advised as
follows:
"The Company is not able to offer any further explanation for the
price change in the securities of the Company"
We understand that the transcript with Mr Manners who is a director
of the Company states the following:
* the Company is changing in industry and is becoming an internet and
telecommunications based venture capital company to take advantage
of the technical revolution currently occurring on a global scale
* Adelong expects that shortly a US Asian or European internet portal
or venture capital company will acquire a substantial share in
Adelong, participate at Board level and drive future long term
growth when the Company's share price hits 2-3 EURO dollars
* Adelong expects that it will shortly be able to announce a
co-operation with one of the top internet names
* FreeISP [a company in which the the Company holds a 20% interest]
has just signed contracts regarding a partnership with one of the
largest internet advertising companies in South East Asia.
* a placement is planned for when the Company's share price hits 1
EURO dollar
* Adelong plans to list its gold interests separately as Challenger
Gold Limited
We draw your attention to the definition of "aware" in chapter 19 of
the listing rules which states that:
"an entity becomes aware of information if a director or executive
officer (in the case of a trust, director or executive officer of
the responsible entity or management company) has, or ought
reasonably to have, come into possess of the information in the
course of the performance of their duties as a director or
executive officer of that entity".
We also draw to your attention to chapters 3 and chapter 11 of the
listing rules.
Having regard to the above, ASX requests that the Company advise on
the following;
1. On what basis did the Company provide the response that it was not
aware of any information concerning it which, had it been available
to the market, might reasonably be regarded as an explanation for
recent trading in the securities of the Company?
2. On what basis did the Company provide the response that it was not
able to offer any further explanation for the price change in the
securities of the Company?
3. Has the Company announced to ASX all the information above
regarding change of activities? If not, why not?
4. Has the Company announced to ASX the information above regarding
proposed transaction with top internet names? If not, why not?
5. Has the Company announced to ASX the information above regarding
placements? If not, why not?
6. Has the Company announced to ASX the information regarding the
spin-off of its gold assets? If not, why not?
7. Was the partnership agreement signed by FreeISP with one of the
largest internet advertising companies in South East Asia, referred
to above, the agreement between FreeISP and Space Media announced
on 19 January 2000? If so, why was that agreement not announced
until 19 January 2000?
8. Can the Company confirm to ASX that it is in compliance with the
listing rules and, in particular, listing rule 3.1?
The queries set out above cover matters of current specific interest
to us. However, we cannot be aware of all the information which would
be required to ensure that the market is properly informed in
accordance with listing rule 3.1. Accordingly, we would emphasise
that your responsibility under that listing rule is not confined to,
or necessarily satisfied by, answering the specific requests set out
in this letter.
If the information requested is information required to be released
pursuant to listing rule 3.1 your obligation is to disclose the
information immediately. Otherwise, your co-operation in lodging a
reply in a format suitable for release to the market is required as
soon as possible and, in any event, not later than half an hour prior
to the commencement of trading (ie prior to 6.30 am W.S.T) on Friday
28 January 2000. Your response should be sent directly to me on
facsimile number 9221 2020. It should not be sent to the Company
Announcements Office.
If you are unable to respond by that time you may wish to request a
trading halt in the Company's securities. As set out in listing rule
17.1 and the "Trading Halts" Guidance Note we may grant a trading
halt at your request. We may require the request to be in writing. We
are not required to act on your request. You must tell us each of the
following:
* The reasons for the trading halt.
* How long you want the trading halt to last.
* The event you expect to happen that will end the trading halt.
* That you are not aware of any reason why the trading halt should
not be granted.
* Any other information necessary to inform the market about the
trading halt, or that we ask for.
The trading halt cannot extend past the commencement of normal
trading on the second day after the day on which it is granted. If a
trading halt is requested and granted and you are still unable to
reply to this enquiry prior to the commencement of trading,
suspension from quotation would normally be imposed by us from the
commencement of trading if not previously requested by you.
The Company is also requested to provide to ASX a translation into
English of the transcript of interview attached to this letter. If
you have any queries on this letter, please do not hesitate to
contact the undersigned on 9224 0013.
J Moran
LISTINGS OFFICER
ASX
ADELONG CAPITAL LIMITED 2000-02-01 ASX-SIGNAL-G
HOMEX - Perth
+++++++++++++++++++++++++
ASX QUERY
We refer to the Company's announcement lodged with ASX on 27 January
2000 in response to an ASX share price query of the same date, and to
the transcript dated 14 January 2000 of an interview with Mr Craig
Manners, a director of the Company, conducted in German and available
on the internet @ www.wallstreetonline.de, a copy of which is
attached.
We regard timely disclosure of relevant information as of prime
importance in the operation of an efficient market. Listing rule 3.1
is a particularly important listing tale. It is part of ASX's
continuous disclosure, regime and is based on the following
principle:
"Timely disclosure must be made of information which may affect
security values or influence investment decisions, and information
in which security holders, investors and ASX have a legitimate
interest."
In relation to our question about whether the Company was aware of
any information concerning it which, had it been available to the
market, might reasonably be regarded as an explanation for recent
trading in the securities of the Company we note that the Company has
advised as follows:
"The Company is not aware of any information concerning it which,
had it been available to the market, might reasonably be regarded
as an explanation for recent trading in the securities of the
Company."
Further, in relation to out question about whether the Company was
able to offer any further explanation for the price change in the
securities of the Company we note that the Company has advised as
follows:
"The Company is not able to offer any further explanation for the
price change in the securities of the Company"
We understand that the transcript with Mr Manners who is a director
of the Company states the following:
* the Company is changing in industry and is becoming an internet and
telecommunications based venture capital company to take advantage
of the technical revolution currently occurring on a global scale
* Adelong expects that shortly a US Asian or European internet portal
or venture capital company will acquire a substantial share in
Adelong, participate at Board level and drive future long term
growth when the Company's share price hits 2-3 EURO dollars
* Adelong expects that it will shortly be able to announce a
co-operation with one of the top internet names
* FreeISP [a company in which the the Company holds a 20% interest]
has just signed contracts regarding a partnership with one of the
largest internet advertising companies in South East Asia.
* a placement is planned for when the Company's share price hits 1
EURO dollar
* Adelong plans to list its gold interests separately as Challenger
Gold Limited
We draw your attention to the definition of "aware" in chapter 19 of
the listing rules which states that:
"an entity becomes aware of information if a director or executive
officer (in the case of a trust, director or executive officer of
the responsible entity or management company) has, or ought
reasonably to have, come into possess of the information in the
course of the performance of their duties as a director or
executive officer of that entity".
We also draw to your attention to chapters 3 and chapter 11 of the
listing rules.
Having regard to the above, ASX requests that the Company advise on
the following;
1. On what basis did the Company provide the response that it was not
aware of any information concerning it which, had it been available
to the market, might reasonably be regarded as an explanation for
recent trading in the securities of the Company?
2. On what basis did the Company provide the response that it was not
able to offer any further explanation for the price change in the
securities of the Company?
3. Has the Company announced to ASX all the information above
regarding change of activities? If not, why not?
4. Has the Company announced to ASX the information above regarding
proposed transaction with top internet names? If not, why not?
5. Has the Company announced to ASX the information above regarding
placements? If not, why not?
6. Has the Company announced to ASX the information regarding the
spin-off of its gold assets? If not, why not?
7. Was the partnership agreement signed by FreeISP with one of the
largest internet advertising companies in South East Asia, referred
to above, the agreement between FreeISP and Space Media announced
on 19 January 2000? If so, why was that agreement not announced
until 19 January 2000?
8. Can the Company confirm to ASX that it is in compliance with the
listing rules and, in particular, listing rule 3.1?
The queries set out above cover matters of current specific interest
to us. However, we cannot be aware of all the information which would
be required to ensure that the market is properly informed in
accordance with listing rule 3.1. Accordingly, we would emphasise
that your responsibility under that listing rule is not confined to,
or necessarily satisfied by, answering the specific requests set out
in this letter.
If the information requested is information required to be released
pursuant to listing rule 3.1 your obligation is to disclose the
information immediately. Otherwise, your co-operation in lodging a
reply in a format suitable for release to the market is required as
soon as possible and, in any event, not later than half an hour prior
to the commencement of trading (ie prior to 6.30 am W.S.T) on Friday
28 January 2000. Your response should be sent directly to me on
facsimile number 9221 2020. It should not be sent to the Company
Announcements Office.
If you are unable to respond by that time you may wish to request a
trading halt in the Company's securities. As set out in listing rule
17.1 and the "Trading Halts" Guidance Note we may grant a trading
halt at your request. We may require the request to be in writing. We
are not required to act on your request. You must tell us each of the
following:
* The reasons for the trading halt.
* How long you want the trading halt to last.
* The event you expect to happen that will end the trading halt.
* That you are not aware of any reason why the trading halt should
not be granted.
* Any other information necessary to inform the market about the
trading halt, or that we ask for.
The trading halt cannot extend past the commencement of normal
trading on the second day after the day on which it is granted. If a
trading halt is requested and granted and you are still unable to
reply to this enquiry prior to the commencement of trading,
suspension from quotation would normally be imposed by us from the
commencement of trading if not previously requested by you.
The Company is also requested to provide to ASX a translation into
English of the transcript of interview attached to this letter. If
you have any queries on this letter, please do not hesitate to
contact the undersigned on 9224 0013.
J Moran
LISTINGS OFFICER
ASX
ADELONG CAPITAL LIMITED 2000-02-01 ASX-SIGNAL-G
HOMEX - Perth
+++++++++++++++++++++++++
ASX QUERY
We refer to the Company's announcement lodged with ASX on 27 January
2000 in response to an ASX share price query of the same date, and to
the transcript dated 14 January 2000 of an interview with Mr Craig
Manners, a director of the Company, conducted in German and available
on the internet @ www.wallstreetonline.de, a copy of which is
attached.
We regard timely disclosure of relevant information as of prime
importance in the operation of an efficient market. Listing rule 3.1
is a particularly important listing tale. It is part of ASX's
continuous disclosure, regime and is based on the following
principle:
"Timely disclosure must be made of information which may affect
security values or influence investment decisions, and information
in which security holders, investors and ASX have a legitimate
interest."
In relation to our question about whether the Company was aware of
any information concerning it which, had it been available to the
market, might reasonably be regarded as an explanation for recent
trading in the securities of the Company we note that the Company has
advised as follows:
"The Company is not aware of any information concerning it which,
had it been available to the market, might reasonably be regarded
as an explanation for recent trading in the securities of the
Company."
Further, in relation to out question about whether the Company was
able to offer any further explanation for the price change in the
securities of the Company we note that the Company has advised as
follows:
"The Company is not able to offer any further explanation for the
price change in the securities of the Company"
We understand that the transcript with Mr Manners who is a director
of the Company states the following:
* the Company is changing in industry and is becoming an internet and
telecommunications based venture capital company to take advantage
of the technical revolution currently occurring on a global scale
* Adelong expects that shortly a US Asian or European internet portal
or venture capital company will acquire a substantial share in
Adelong, participate at Board level and drive future long term
growth when the Company's share price hits 2-3 EURO dollars
* Adelong expects that it will shortly be able to announce a
co-operation with one of the top internet names
* FreeISP [a company in which the the Company holds a 20% interest]
has just signed contracts regarding a partnership with one of the
largest internet advertising companies in South East Asia.
* a placement is planned for when the Company's share price hits 1
EURO dollar
* Adelong plans to list its gold interests separately as Challenger
Gold Limited
We draw your attention to the definition of "aware" in chapter 19 of
the listing rules which states that:
"an entity becomes aware of information if a director or executive
officer (in the case of a trust, director or executive officer of
the responsible entity or management company) has, or ought
reasonably to have, come into possess of the information in the
course of the performance of their duties as a director or
executive officer of that entity".
We also draw to your attention to chapters 3 and chapter 11 of the
listing rules.
Having regard to the above, ASX requests that the Company advise on
the following;
1. On what basis did the Company provide the response that it was not
aware of any information concerning it which, had it been available
to the market, might reasonably be regarded as an explanation for
recent trading in the securities of the Company?
2. On what basis did the Company provide the response that it was not
able to offer any further explanation for the price change in the
securities of the Company?
3. Has the Company announced to ASX all the information above
regarding change of activities? If not, why not?
4. Has the Company announced to ASX the information above regarding
proposed transaction with top internet names? If not, why not?
5. Has the Company announced to ASX the information above regarding
placements? If not, why not?
6. Has the Company announced to ASX the information regarding the
spin-off of its gold assets? If not, why not?
7. Was the partnership agreement signed by FreeISP with one of the
largest internet advertising companies in South East Asia, referred
to above, the agreement between FreeISP and Space Media announced
on 19 January 2000? If so, why was that agreement not announced
until 19 January 2000?
8. Can the Company confirm to ASX that it is in compliance with the
listing rules and, in particular, listing rule 3.1?
The queries set out above cover matters of current specific interest
to us. However, we cannot be aware of all the information which would
be required to ensure that the market is properly informed in
accordance with listing rule 3.1. Accordingly, we would emphasise
that your responsibility under that listing rule is not confined to,
or necessarily satisfied by, answering the specific requests set out
in this letter.
If the information requested is information required to be released
pursuant to listing rule 3.1 your obligation is to disclose the
information immediately. Otherwise, your co-operation in lodging a
reply in a format suitable for release to the market is required as
soon as possible and, in any event, not later than half an hour prior
to the commencement of trading (ie prior to 6.30 am W.S.T) on Friday
28 January 2000. Your response should be sent directly to me on
facsimile number 9221 2020. It should not be sent to the Company
Announcements Office.
If you are unable to respond by that time you may wish to request a
trading halt in the Company's securities. As set out in listing rule
17.1 and the "Trading Halts" Guidance Note we may grant a trading
halt at your request. We may require the request to be in writing. We
are not required to act on your request. You must tell us each of the
following:
* The reasons for the trading halt.
* How long you want the trading halt to last.
* The event you expect to happen that will end the trading halt.
* That you are not aware of any reason why the trading halt should
not be granted.
* Any other information necessary to inform the market about the
trading halt, or that we ask for.
The trading halt cannot extend past the commencement of normal
trading on the second day after the day on which it is granted. If a
trading halt is requested and granted and you are still unable to
reply to this enquiry prior to the commencement of trading,
suspension from quotation would normally be imposed by us from the
commencement of trading if not previously requested by you.
The Company is also requested to provide to ASX a translation into
English of the transcript of interview attached to this letter. If
you have any queries on this letter, please do not hesitate to
contact the undersigned on 9224 0013.
J Moran
LISTINGS OFFICER
ASX
ADELONG CAPITAL LIMITED 2000-02-01 ASX-SIGNAL-G
HOMEX - Perth
+++++++++++++++++++++++++
ASX QUERY
We refer to the Company's announcement lodged with ASX on 27 January
2000 in response to an ASX share price query of the same date, and to
the transcript dated 14 January 2000 of an interview with Mr Craig
Manners, a director of the Company, conducted in German and available
on the internet @ www.wallstreetonline.de, a copy of which is
attached.
We regard timely disclosure of relevant information as of prime
importance in the operation of an efficient market. Listing rule 3.1
is a particularly important listing tale. It is part of ASX's
continuous disclosure, regime and is based on the following
principle:
"Timely disclosure must be made of information which may affect
security values or influence investment decisions, and information
in which security holders, investors and ASX have a legitimate
interest."
In relation to our question about whether the Company was aware of
any information concerning it which, had it been available to the
market, might reasonably be regarded as an explanation for recent
trading in the securities of the Company we note that the Company has
advised as follows:
"The Company is not aware of any information concerning it which,
had it been available to the market, might reasonably be regarded
as an explanation for recent trading in the securities of the
Company."
Further, in relation to out question about whether the Company was
able to offer any further explanation for the price change in the
securities of the Company we note that the Company has advised as
follows:
"The Company is not able to offer any further explanation for the
price change in the securities of the Company"
We understand that the transcript with Mr Manners who is a director
of the Company states the following:
* the Company is changing in industry and is becoming an internet and
telecommunications based venture capital company to take advantage
of the technical revolution currently occurring on a global scale
* Adelong expects that shortly a US Asian or European internet portal
or venture capital company will acquire a substantial share in
Adelong, participate at Board level and drive future long term
growth when the Company's share price hits 2-3 EURO dollars
* Adelong expects that it will shortly be able to announce a
co-operation with one of the top internet names
* FreeISP [a company in which the the Company holds a 20% interest]
has just signed contracts regarding a partnership with one of the
largest internet advertising companies in South East Asia.
* a placement is planned for when the Company's share price hits 1
EURO dollar
* Adelong plans to list its gold interests separately as Challenger
Gold Limited
We draw your attention to the definition of "aware" in chapter 19 of
the listing rules which states that:
"an entity becomes aware of information if a director or executive
officer (in the case of a trust, director or executive officer of
the responsible entity or management company) has, or ought
reasonably to have, come into possess of the information in the
course of the performance of their duties as a director or
executive officer of that entity".
We also draw to your attention to chapters 3 and chapter 11 of the
listing rules.
Having regard to the above, ASX requests that the Company advise on
the following;
1. On what basis did the Company provide the response that it was not
aware of any information concerning it which, had it been available
to the market, might reasonably be regarded as an explanation for
recent trading in the securities of the Company?
2. On what basis did the Company provide the response that it was not
able to offer any further explanation for the price change in the
securities of the Company?
3. Has the Company announced to ASX all the information above
regarding change of activities? If not, why not?
4. Has the Company announced to ASX the information above regarding
proposed transaction with top internet names? If not, why not?
5. Has the Company announced to ASX the information above regarding
placements? If not, why not?
6. Has the Company announced to ASX the information regarding the
spin-off of its gold assets? If not, why not?
7. Was the partnership agreement signed by FreeISP with one of the
largest internet advertising companies in South East Asia, referred
to above, the agreement between FreeISP and Space Media announced
on 19 January 2000? If so, why was that agreement not announced
until 19 January 2000?
8. Can the Company confirm to ASX that it is in compliance with the
listing rules and, in particular, listing rule 3.1?
The queries set out above cover matters of current specific interest
to us. However, we cannot be aware of all the information which would
be required to ensure that the market is properly informed in
accordance with listing rule 3.1. Accordingly, we would emphasise
that your responsibility under that listing rule is not confined to,
or necessarily satisfied by, answering the specific requests set out
in this letter.
If the information requested is information required to be released
pursuant to listing rule 3.1 your obligation is to disclose the
information immediately. Otherwise, your co-operation in lodging a
reply in a format suitable for release to the market is required as
soon as possible and, in any event, not later than half an hour prior
to the commencement of trading (ie prior to 6.30 am W.S.T) on Friday
28 January 2000. Your response should be sent directly to me on
facsimile number 9221 2020. It should not be sent to the Company
Announcements Office.
If you are unable to respond by that time you may wish to request a
trading halt in the Company's securities. As set out in listing rule
17.1 and the "Trading Halts" Guidance Note we may grant a trading
halt at your request. We may require the request to be in writing. We
are not required to act on your request. You must tell us each of the
following:
* The reasons for the trading halt.
* How long you want the trading halt to last.
* The event you expect to happen that will end the trading halt.
* That you are not aware of any reason why the trading halt should
not be granted.
* Any other information necessary to inform the market about the
trading halt, or that we ask for.
The trading halt cannot extend past the commencement of normal
trading on the second day after the day on which it is granted. If a
trading halt is requested and granted and you are still unable to
reply to this enquiry prior to the commencement of trading,
suspension from quotation would normally be imposed by us from the
commencement of trading if not previously requested by you.
The Company is also requested to provide to ASX a translation into
English of the transcript of interview attached to this letter. If
you have any queries on this letter, please do not hesitate to
contact the undersigned on 9224 0013.
J Moran
LISTINGS OFFICER
ASX
ADELONG CAPITAL LIMITED 2000-02-01 ASX-SIGNAL-G
HOMEX - Perth
+++++++++++++++++++++++++
ASX QUERY
We refer to the Company's announcement lodged with ASX on 27 January
2000 in response to an ASX share price query of the same date, and to
the transcript dated 14 January 2000 of an interview with Mr Craig
Manners, a director of the Company, conducted in German and available
on the internet @ www.wallstreetonline.de, a copy of which is
attached.
We regard timely disclosure of relevant information as of prime
importance in the operation of an efficient market. Listing rule 3.1
is a particularly important listing tale. It is part of ASX's
continuous disclosure, regime and is based on the following
principle:
"Timely disclosure must be made of information which may affect
security values or influence investment decisions, and information
in which security holders, investors and ASX have a legitimate
interest."
In relation to our question about whether the Company was aware of
any information concerning it which, had it been available to the
market, might reasonably be regarded as an explanation for recent
trading in the securities of the Company we note that the Company has
advised as follows:
"The Company is not aware of any information concerning it which,
had it been available to the market, might reasonably be regarded
as an explanation for recent trading in the securities of the
Company."
Further, in relation to out question about whether the Company was
able to offer any further explanation for the price change in the
securities of the Company we note that the Company has advised as
follows:
"The Company is not able to offer any further explanation for the
price change in the securities of the Company"
We understand that the transcript with Mr Manners who is a director
of the Company states the following:
* the Company is changing in industry and is becoming an internet and
telecommunications based venture capital company to take advantage
of the technical revolution currently occurring on a global scale
* Adelong expects that shortly a US Asian or European internet portal
or venture capital company will acquire a substantial share in
Adelong, participate at Board level and drive future long term
growth when the Company's share price hits 2-3 EURO dollars
* Adelong expects that it will shortly be able to announce a
co-operation with one of the top internet names
* FreeISP [a company in which the the Company holds a 20% interest]
has just signed contracts regarding a partnership with one of the
largest internet advertising companies in South East Asia.
* a placement is planned for when the Company's share price hits 1
EURO dollar
* Adelong plans to list its gold interests separately as Challenger
Gold Limited
We draw your attention to the definition of "aware" in chapter 19 of
the listing rules which states that:
"an entity becomes aware of information if a director or executive
officer (in the case of a trust, director or executive officer of
the responsible entity or management company) has, or ought
reasonably to have, come into possess of the information in the
course of the performance of their duties as a director or
executive officer of that entity".
We also draw to your attention to chapters 3 and chapter 11 of the
listing rules.
Having regard to the above, ASX requests that the Company advise on
the following;
1. On what basis did the Company provide the response that it was not
aware of any information concerning it which, had it been available
to the market, might reasonably be regarded as an explanation for
recent trading in the securities of the Company?
2. On what basis did the Company provide the response that it was not
able to offer any further explanation for the price change in the
securities of the Company?
3. Has the Company announced to ASX all the information above
regarding change of activities? If not, why not?
4. Has the Company announced to ASX the information above regarding
proposed transaction with top internet names? If not, why not?
5. Has the Company announced to ASX the information above regarding
placements? If not, why not?
6. Has the Company announced to ASX the information regarding the
spin-off of its gold assets? If not, why not?
7. Was the partnership agreement signed by FreeISP with one of the
largest internet advertising companies in South East Asia, referred
to above, the agreement between FreeISP and Space Media announced
on 19 January 2000? If so, why was that agreement not announced
until 19 January 2000?
8. Can the Company confirm to ASX that it is in compliance with the
listing rules and, in particular, listing rule 3.1?
The queries set out above cover matters of current specific interest
to us. However, we cannot be aware of all the information which would
be required to ensure that the market is properly informed in
accordance with listing rule 3.1. Accordingly, we would emphasise
that your responsibility under that listing rule is not confined to,
or neces
