Claims

If you suffered loss from investing in Spotless shares, you may have a claim. Register with ICP to obtain detailed information additional to the summary below.

ASX Code: SPO
ISIN: AU000000SPO4
Claim Period: On or after 25 August 2015 to 1 December 2015
Shares traded in Period (m): 713
Price change on disclosure: -$0.88
Market Cap Drop ($m): 961
Registry

Victoria Registry, Federal Court of Australia (VID561/2017).

Date of Filing

25 May 2017.

File Title

Alison Court v Spotless Group Holdings Limited.

Solicitors for Applicant

Slater & Gordon.

Solicitors for Respondent

Herbert Smith Freehills.

Funder

ICP Capital and Therium.

Presiding Judge

Justice Murphy.

Background

On 25 August 2015 (reconfirmed on 22 October 2015) Spotless announced that “Subject to economics conditions, we expect the FY16 results (EBITDA and NPAT) to materially exceed FY15 results.”

FY15 statutory EBITDA and NPAT was $316.4m and $142.8m, respectively.

On 2 December 2015, Spotless disclosed EBITDA would be flat year on year and NPAT approximately 10% below FY15.

Nature of Claim

That Spotless had no reasonable basis for its 25 August and 22 October guidance.

Potential Class Members

Parties who purchased shares in Spotless on or after 25 August 2015 and who held some or all of those shares until 2 December 2015 (the “Period”).

Current Status

The Respondent has provided discovery and the following orders will be sought at the Case Management Hearing listed for 10 August 2018:

  1. the Claimant file an amended pleading by 27 September 2018 with the amended defence to be filed by 11 October 2018;
  2. Opt Out notices to be published with opt out by 22 November 2018;
  3. any common Fund Application to be filed by 30 August 2018; and
  4. A mediation be commenced no later than 28 March 2019.
Capacity to Join

Currently open.

 

Registration is confidential, free and without obligation.