21 Jun 2011

Clayton Utz advises Amcom on iiNet share sale and distribution to its shareholders

Perth, 21 June 2011: Clayton Utz is advising ASX-listed data network provider Amcom Telecommunications Limited in connection with the sell-down and distribution of its 23.4% shareholding in ASX-listed internet service provider iiNet Ltd.

Clayton Utz Perth Corporate / M&A partner Mark Paganin is the lead partner advising on the transaction, with support from senior associate Caitlin Sharp.

The transaction involves the sale by Amcom of 4.5 million of the 35.5 million shares it held in iiNet, and the proposed in specie distribution of its remaining shareholding (approximately 31 million shares) to its shareholders, which is subject to shareholder approval. The transaction is part of Amcom's strategy to consolidate its share capital and provide the company with working capital to fund future growth.

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Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.