Speedcast applies to delist from Australian stock exchange

Speedcast International Ltd. applied for a delisting from the Australian Securities Exchange.

The remote communications and IT services provider said in a March 16 release it will convene an extraordinary general meeting of members to consider the appointment of a liquidator to the company after finalizing some administrative matters.

In January, the Australian Securities and Investments Commission offered the company additional relief from certain reporting duties under the Corporations Act.

The U.S. Bankruptcy Court for the Southern District of Texas also approved the reorganization plan for Speedcast and some affiliates, allowing Speedcast to complete its Chapter 11 bankruptcy process by the end of the first quarter.