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Adslot Ltd (ASX:ADS)

ALERT: Price-sensitive ASX Announcement for ADS
Current share price for ADS : $0.001 0 (0%)+
Announcement
Release
21 Jul 2026 5:20PM
Price at Release
$0.001
Full Release
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Summary
The document discusses an application received by the Takeovers Panel concerning Adslot Ltd, an ASX-listed company. The application, submitted by Mr. Andrew Barlow, raises issues regarding a significant off-market share transfer involving 723,878,279 shares of Adslot, representing 12.24% of its total shares, from Private Portfolio Managers Pty Ltd to Penstock Consulting Pty Ltd. The applicant alleges the market was not informed about the actual beneficial holder of the shares and potential undisclosed associations between Mr. Dyer, Adslot's Executive Chairman, and Penstock. It suggests breaches of sections 606 and 671B of the Corporations Act. The applicant seeks interim and final orders including corrective disclosures, vesting of shares with ASIC for sale, and disregarding the voting rights attached to the shares.
Key Points
  • Application received by Takeovers Panel from Andrew Barlow regarding Adslot Ltd.
  • Transfer of 723,878,279 Adslot shares, 12.24% of total shares, involved.
  • Shares transferred from Private Portfolio Managers to Penstock Consulting.
  • Allegations of undisclosed beneficial ownership and associations.
  • Potential contraventions of Corporations Act sections 606 and 671B.
  • Interim and final orders sought for corrective actions and restrictions.
  • Panel yet to decide on conducting proceedings.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.