SIO - Notice under s249N

Key points

• Notice under s249N from NEX Building Group and McDonald Jones Homes Investments
• Proposes amendments to the constitution and an independent forensic investigation
• Resolutions to be considered at the next general meeting
• Notice given to comply with ASX Listing Rule 3.17A

Full summary

Simonds Group Ltd (ASX:SIO) has received a notice under section 249N of the Corporations Act 2001 from NEX Building Group Pty Ltd and McDonald Jones Homes Investments Pty Ltd. The notice proposes two resolutions to be considered at the next general meeting of the company. The first resolution is to amend the company's constitution to allow for an ordinary resolution to appoint an independent forensic accountant. The second resolution, conditional on the first being passed, requests the board to appoint such an accountant to investigate the application of the company's resources during the financial years ended 30 June 2020 to 30 June 2026. The notice is in accordance with ASX Listing Rule 3.17A.