Strategic Minerals Corporation NL 06 - President Makes Interim Orders

TP20/030

The President has made interim orders in relation to an application from Ms Veronica Oma in relation to the affairs of Strategic Minerals Corporation NL (see TP20/28).

The interim orders state that Strategic Minerals must immediately take all action necessary, in relation to its renounceable entitlement offer made under Strategic Minerals’ prospectus dated 3 April 2020, to:

  • suspend trading in new shares on a deferred settlement basis for not less than 5 business days from 21 April 2020 and
  • postpone by not less than 5 business days the closing date of the entitlement offer and all subsequent dates in the entitlement offer timetable.

The interim orders have effect until the earliest of further order of the President or the Panel, determination of the proceedings or 2 months from the date of the interim orders.

A copy of the interim orders is attached.

Allan Bulman
Director, Takeovers Panel
Level 16, 530 Collins Street
Melbourne VIC 3000
Ph: +61 3 9655 3500
takeovers@takeovers.gov.au

Annexure A

Corporations Act
Section 657E
Interim orders

Strategic Minerals Corporation NL 06

Ms Veronica Oma made an application to the Panel dated 20 April 2020 in relation to the affairs of Strategic Minerals Corporation NL (Strategic Minerals).

The President ORDERS:

  1. Strategic Minerals must immediately take all actions necessary, in relation to its renounceable entitlement offer made under Strategic Minerals’ prospectus dated 3 April 2020 (Prospectus), to:
    1. suspend trading in new shares on a deferred settlement basis for not less than 5 business days from 21 April 2020 and
    2. postpone by not less than 5 business days the following dates:
      1. the closing date of the entitlement offer and
      2. all subsequent dates listed in the timetable on page 2 of the Prospectus.
  2. Strategic Minerals must make an announcement on the Australian Securities Exchange as soon as possible regarding the adjustments to its entitlement offer timetable.
  3. These interim orders have effect until the earliest of:
    1. further order of the President or the Panel
    2. the determination of the proceedings and
    3. 2 months from the date of these interim orders.

Tania Mattei
Counsel
with authority of Alex Cartel
President of the Panel
Dated 20 April 2020

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