26 April 2019

ASX Notices Lodged by Smiles Inclusive Limited

ASX Notices Lodged by Smiles Inclusive Limited

Following are ASX notices lodged by Smiles Inclusive Limited.  The notices also provide a basis for articles in today’s the Australian Financial Review and the Age newspapers.  At the closing share price of 15.5 cents at close of business of the 24th April 2019 Smiles Inclusive’s total market value was $6.11 million.

We note that the company has announced an increase in its expected loss for the current financial year.  Previous guidance was up to $1 million now it is expected to produce a loss of $4 million.

Meanwhile the bizarre battle for control marches on.  According to The Age of the 26th April 2019 a group of twelve Smiles Inclusive joint venture dental partners wrote to the Board of Smiles Inclusive calling for Mr Timoney to remain in the company, and supporting his proposal for board renewal.  We note that this leaves a remainder of its 56 dental practice vendor/joint venture partners who have not provided such a letter.

Are There Any Winners?

We guess that somewhere in the background there are lawyers running up some impressive bills for providing legal advice to the feuding parties and to the remaining one independent Director, Mr Peter Evans.  Mr Evans has indicated that he wishes to resign from the company as soon as possible once control of its Board is determined.

Best wishes to all Dentists,

GRAHAM MIDDLETON

https://www.asx.com.au/asxpdf/20190424/pdf/444jhw1k1r5t3s.pdf  - Withdrawal of FY19 Guidance

https://www.asx.com.au/asxpdf/20190424/pdf/444jhjcnq3c576.pdf  - Management Changes

https://www.asx.com.au/asxpdf/20190424/pdf/444hyb05mb9v6t.pdf  -  General Meeting Update

https://www.asx.com.au/asxpdf/20190416/pdf/444c6ghnb63x65.pdf -  Legal Proceedings

Disclaimer:

The information contained herein is of a general nature and no specific action should be taken without individual advice. Speak with Synstrat staff as appropriate.  Prepared by Synstrat Management Pty Ltd for clients of the Synstrat Group.  Synstrat Management Pty Ltd is the holder of Australian Financial Services Licence No. 227169.  ABN 57 006 295 325