Supreme Court orders granted
Released
Released
Announcement PDF
ASX RELEASE
7 November 2025
SUPREME COURT ORDERS GRANTED
Further to SportsHero Limited’s (SportsHero or the Company) announcement dated 4
November 2025, the Company advises that today the Application to the Supreme Court of
Western Australia was heard to rectify the non-issue of cleansing notices for two separate issues
of 1,086,956 fully paid ordinary shares on 23 September 2025 and 1 October 2025 (Share Issues).
Through an administrative oversight, a cleansing notice under section 708A(5)(e) of the
Corporations Act (Cth) (Corporations Act) was not given to ASX within 5 business days in respect
of the Share Issues. This issue was identified by the Company and was reported to ASIC and a
cleansing notice was subsequently issued on 4 November 2025.
The Company is pleased to confirm that at the hearing earlier today, the Court made the orders
sought by the Company. A copy of the Court orders are attached to this announcement.
The Company anticipates that trading of its securities will recommence on Monday,
10 November 2025.
As a consequence of the late lodgment of the cleansing notice, the Company has undertaken
a review of its governance and compliance practices to ensure that it complies with its
obligations moving forward.
This review has resulted in the re-adoption by the Board of a revised “Quoted Securities Issuance
Policy” which was previously adopted by the Company but did not form part of the handover
on change of company secretary in February, 2024. The policy requires that two directors sign
and date a securities issue “Checklist” for every issue of quoted securities, confirming that all
required notices, forms, announcements, advices and documentation have been properly and
accurately completed, lodged and/or forwarded to the relevant authorities, parties or persons
as detailed in the policy. The revised policy further re-instates the Company’s formerly adopted
internal processes to ensure that the Board has greater visibility over issues of securities and
cleansing matters.
The Board remains committed to regularly reviewing and improving its governance regime as
the business of the Company expands.
This announcement has been authorised for release by the Board.
Ross Pearson
Company Secretary
SportsHero Limited
ABN 98 123 423 987
Principal and Registered Office: 36 Prestwick Drive, Twin Waters, Queensland 4564
Tel/Fax: +61 7 5457 0557
IN THE SUPREME COURT OF WESTERN AUSTRALIA
COR/173/2025
EX PARTE:
SPORTSHERO LIMITED (ACN 123 423 987) First Plaintiff
_____________________________________________________________________
ORDERS OF JUSTICE HILL
MADE ON 7 NOVEMBER 2025
_____________________________________________________________________
UPON THE APPLICATION of the plaintiff by originating process dated 4
November 2025, and UPON HEARING N Wallwork, of counsel for the plaintiff,
IT IS ORDERED THAT:
1. Pursuant to s 1322(4)(d) of the Corporations Act 2001 (Cth) (Corporations Act), in respect of the
1,086,956 ordinary fully paid shares in the plaintiff, which were issued on 23 September 2025, and
the 1,086,956 ordinary fully paid shares in the plaintiff, which were issued on 1 October 2025,
(together, the Shares) the period of five business days referred to in s 708A(6)(a) of the
Corporations Act be extended to 4 November 2025.
2. Pursuant to s 1322(4)(a) of the Corporations Act, it is declared that the notice under s 708A(5)(e)
of the Corporations Act given to the Australian Securities Exchange Limited (ASX) on 4
November 2025 in respect of the Shares be deemed to take effect as if it had been given to the
ASX on the date of issue of these shares.
3. Pursuant to s 1322(4)(a) of the Corporations Act, it is declared that any offer for sale or sale of the
Shares during the period after their issue to 4 November 2025 is not invalid by reason of:
(a) the failure of the Plaintiff to issue a notice under section 708A(6) of the Corporations Act or
to issue a prospectus under section 708A(11) of the Corporations Act to exempt the sellers
from the obligation of disclosure under the Corporations Act; and
(b) the sellers' consequent failure to comply with sections 707(3) and 727(1) of the
Corporations Act.
4. A sealed copy of these orders is to be served on the Australian Securities and Investments
Commission (ASIC) as soon as reasonably practicable.
5. A copy of these orders is to be given to each person to whom the Shares were issued and as soon
as reasonably practicable the plaintiff is to publish an announcement to ASX in which a copy of
these orders is included.
6. The plaintiff shall publish a copy of these orders on its website as soon as reasonably practicable.
7. For a period of 28 days from the publication of the ASX announcement in accordance with order
5, any person who claims to have suffered substantial injustice or is likely to suffer substantial
injustice by the making of any or all of these orders has liberty to apply to vary or to discharge
them.
8. There be no order as to costs.
BY THE COURT
THE HONOURABLE JUSTICE J HILL
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