Just four days after receiving court approval to go forward with it’s Deed of Company Arrangement (DOCA), Oroton has confirmed all conditions have now been met and, as of yesterday, the DOCA has been completed.

As a result, all shares on issue in Oroton have been transferred to Manderrah, the company is no longer subject to the DOCA, and the deed administrators have retired.

Additionally, the company has applied to be removed from the ASX, as it is now a wholly-owned subsidiary of Manderrah, and will continue trading as a non-listed company moving forward.

While John Schmoll and Maria Martin have resigned as directors of Oroton, Ross Lane will continue as a director on the board, and will be joined by Will Vicars, Sophie Holt and Matthew Moses who will assume the role of non-executive chairman.

The completion of the DOCA comes after months of difficulty from the retailer after falling into administration last November.

At the time deed administrator Vaughan Strawbridge noted that their “ambition is that a stronger Oroton business will emerge from this process.”

“The flexibility of the voluntary administration process enhances the ability to further restructure OrotonGroup in a manner which makes it possible to achieve the best possible outcome in these circumstances.”

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