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Farooq Khan, Chairman of Queste Communications, Announces Results of an Equal Access Buy-Back

Announcement posted by Queste Communications Limited 24 Jan 2014

Queste Communications Ltd chairman Farooq Khan (ASX:QUE) (Queste or the Company) is pleased to announce the close of its off-market, equal access share buy-back (Buy-Back) at 4:00pm (Peth time) on 21 January.

Under the Buy-Back:

·                587,563 fully paid shares were bought back for 10 cents per share, at a cost of $58,756.00; and

·                10,000,000 partly paid shares[1] were bought back for 0.5 of a cent per share, at a cost $50,000.00,

with the total cost of buying back the shares being $108,756.00. 

As per the Buy-Back timetable previously announced, proceeds will be sent to shareholders who accepted the buy-back offer by 5 February 2014.

The shares bought back will be cancelled.  Upon the cancellation Queste’s share capital will comprise:

·                27,817,316 listed fully paid shares; and

·                10,000,000 unlisted partly paid shares, each paid up to 1.5225 cents per share, representing the equivalent of 761,250 fully paid shares[2],

making a total of 28,578,566 fully paid share equivalents.



[1]        The terms of the partly paid shares are set out on page 21 of the Buy-Back Offer Booklet.

[2]       Each partly paid share is treated for voting purposes as being a proportion of a fully paid share, equal to the proportion to which it has been paid up - 1.5225 cents per share, representing 7.61% of the $0.20 issue price.