Vonex Limited has finalized its Scheme of Arrangement, transferring all shares to Maxo Telecommunications and initiating a board overhaul ahead of its imminent ASX delisting.
- Scheme of Arrangement executed, shares transferred to MaxoTel
- Shareholders paid A$0.036 per share as per Scheme terms
- Significant board changes with new directors appointed
- Trading suspended since 9 October, delisting expected 21 October
- Future strategic direction under MaxoTel remains to be seen
Scheme Completion Marks a New Chapter
Vonex Limited (ASX – VN8) has officially completed its Scheme of Arrangement, a pivotal corporate event that sees all Vonex shares transferred to Maxo Telecommunications Pty Ltd (MaxoTel). This move effectively ends Vonex's independent listing on the Australian Securities Exchange, with trading having been suspended since 9 October 2025 and delisting anticipated imminently.
Shareholder Payout and Board Restructuring
Shareholders recorded on the Scheme Record Date of 13 October 2025 received a payment of A$0.036 per share, in line with the agreed terms. This payout concludes the financial relationship between Vonex and its public investors under the Scheme. Concurrently, the company has undergone a significant governance reshuffle. All existing directors, save for Michael Blake, along with the company secretary, have resigned. In their place, Alex Rich has been appointed as both Director and Company Secretary, with Elyse Rich joining as a Director, signaling a fresh leadership team under MaxoTel's stewardship.
Implications of Delisting and Future Outlook
The delisting from the ASX, expected to take effect on 21 October 2025, removes Vonex from the public market spotlight. This transition often allows for more strategic flexibility but reduces transparency and liquidity for former shareholders. Vonex, known for its telecommunications infrastructure and hosted PBX services primarily serving small to medium enterprises, now enters a new phase under MaxoTel’s ownership. The market will be watching closely to see how MaxoTel leverages Vonex’s technology and customer base moving forward.
What Lies Ahead for Vonex and Its Stakeholders
While the Scheme’s completion and board changes are clear milestones, the broader strategic intentions of MaxoTel remain undisclosed. Investors and industry observers will be keen to understand how this ownership change will impact Vonex’s product offerings, market positioning, and growth trajectory in the competitive telecommunications sector.
Bottom Line?
Vonex’s transition to private ownership under MaxoTel sets the stage for a strategic reset, but many questions about its future remain unanswered.
Questions in the middle?
- What strategic plans does MaxoTel have for Vonex’s telecommunications assets?
- How will the new board under Alex and Elyse Rich steer the company post-delisting?
- What are the implications for Vonex’s existing customers and wholesale partners?