• Shareholder submits application to Takeovers Panel regarding Vmoto's proposed delisting
• Concerns raised over minority shareholder oppression and transfer of shares
• Applicant seeks orders to postpone shareholder meeting and disclose share issuances

Vmoto Ltd (ASX: VMT) has received an application from a shareholder, the Munro Family Super Fund, to the Takeovers Panel regarding the company's affairs. On 16 December 2024, Vmoto announced its intention to delist from the ASX, subject to shareholder approval. In connection with the proposed delisting, Vmoto conducted an off-market equal access share buy-back. The applicant, a Vmoto shareholder, has submitted that the proposed delisting 'follows a number of transactions that have involved significant oppression of minority shareholders and the transfer of 22.6% of the company's shares to entities selected by the board to receive those shares in unacceptable circumstances'. The applicant also believes the proposed delisting 'will deliver the board members the benefits that come from removing the protections that the listing rules provide minorities' and 'raises concerns in relation to Section 228 (7)'. Additionally, the applicant has raised concerns about deficiencies in the notice of meeting and proxy form for a shareholder meeting requisitioned by the applicant and three related parties to remove four Vmoto directors and appoint two new directors. The applicant is seeking various interim and final orders from the Takeovers Panel, including postponing the shareholder meeting, requiring Vmoto to disclose details of recent share issuances, and imposing voting restrictions on certain shareholders.