Yowie Group Limited (ASX: YOW), the confectionery company known for its chocolate eggs containing collectible animal figurines, has provided an update regarding its capital raising requirements. The company, which aims to educate children about endangered animals and environmental issues through its products, was subject to two suspensions from quotation on the ASX in the past year due to previous directors failing to lodge necessary financial reports.
The initial suspension occurred between 1 October 2024 and 12 December 2024, followed by a subsequent suspension commencing on 3 March 2025, which remains in effect. During April 2025, Keybridge Capital Limited, Yowie’s majority shareholder, sought to replace the former directors, leading to further corporate activity, including a proposed scrip bid by Yowie for Keybridge and legal proceedings regarding access to Yowie’s member register.
On 6 August 2025, the Australian Securities and Investments Commission (ASIC) determined that Yowie contravened sections 302 and 320 of the Corporations Act by failing to lodge an audited financial report for the half-year ended 31 December 2024. As a result, ASIC has excluded Yowie from relying on section 713 of the Corporations Act until 6 August 2026. This section allows companies to issue a short-form prospectus for continuously quoted securities.
The effect of this determination is that Yowie will be required to issue a full prospectus, rather than a short-form version, for any funds raised before 6 August 2026. While this will not directly impact shareholders, it will increase the time and cost associated with producing a prospectus. Yowie’s current directors are working to rectify these compliance issues and adhere to both the Corporations Act and ASX listing rules.
