Air Change International Limited (Air Change) is a public company listed on the Australian Stock Exchange (ASX) under the Code AHJ.
The Company’s shares are presently suspended because it does not satisfy the requirements of Chapters 1 & 2 of the ASX Listing Rules. In particular, Air Change is required to satisfy the spread requirements of the ASX, being 400 holders each having a parcel of securities in Air Change with a value of at least $2000 (a Spread Parcel), where unrelated parties hold at least 25% of the securities.
A change in the nature and scale of a company’s operations allows the ASX to treat that company as a new listing thereby requiring it to satisfy Chapters 1 & 2 of the ASX Listing Rules.
Air Change International Ltd (formerly IFC Capital Ltd) changed the nature and scale of its operations in April 2010 when it acquired the shares of Air Change Pty Ltd. To reflect it’s new business direction, IFC Capital Ltd changed it’s name to Air Change International Ltd.
Although Air Change has in excess of 700 Shareholders, the ASX invoked the minimum Spread Parcel requirement following the acquisition of the Air Change business.
The details of this transaction are available by reviewing the Company’s announcements on the ASX website.
The acquisition and integration stage of the Company’s restructure is nearing completion after which and it will issue a new prospectus and seek to attract sufficient new shareholders to meet the Spread Parcel requirements and recommence trading on the ASX.
If you are not presently a shareholder in Air Change International Limited but are interested in becoming a shareholder and participating in a unique patented Australian technology that significantly lowers the energy requirements of heating, ventilation and air-conditioning equipment, then you can register your interest by emailing your name and address to invest@airchange.com.au