ASX advises that one of its shareholders, Rosherville Pty Ltd (Rosherville), has now filed an application for interim relief under section 241 of the Corporations Act 2001 (Cth) seeking to file a statement of claim (Interim Application) and a separate application for leave to commence a Statutory Derivative Action under ss 236 and 237 of that act in the Federal Court of Australia (Leave Application).
Rosherville alleges that identified directors and officers breached certain of their duties in connection with the previous CHESS project. There are no allegations against ASX itself.
ASX will oppose the Interim Application. ASX will also oppose the Leave Application on the basis that it is not in the best interests of the company.
