The Panel has made a declaration of unacceptable circumstances (Annexure A) in relation to an application dated 15 May 2024 by Sequoia Financial Group Limited (Sequoia) in relation to its affairs (see TP24/23).
Sequoia is an ASX‑listed company (ASX code: SEQ).
The Panel has declined to conduct proceedings on an application dated 29 May 2024 from Zentree Investments Limited in relation to the affairs of Energy Resources of Australia Limited (ERA).
The Panel has made a declaration of unacceptable circumstances (Annexure A) in relation to an application dated 17 May 2024 by NDC BidCo Pty Ltd in relation to the affairs of Pacific Smiles Group Limited (Pacific Smiles) (see TP24/24).
Pacific Smiles is an ASX-listed company (ASX: PSQ).
The Panel has declined to conduct proceedings on an application dated 23 May 2024 from PRM Services LLC in relation to the affairs of Sierra Rutile Holdings Limited.
Sierra Rutile is the subject of an on-market takeover bid by PRM Services at A$0.095 per share. The application concerned (among other things) whether the “Concert Parties” (as defined in the application, including Mano Mining and Logistics Limited, Rockbridge Overseas Limited, Leonoil Company Limited and Gemcorp Commodities Assets Holdings Limited):
The Panel has declined to conduct proceedings on an application dated 20 May 2024 from Benjamin Pauley in relation to the affairs of Maronan Metals Limited (ASX: MMA).
The application concerned certain trading in Maronan Metals shares prior to the announcement of a placement and share purchase plan (see TP24/025).
The Panel has received an application from Emma Salerno and James Salerno Junior as trustees for the Ringers Western Discretionary Trust seeking a review of the Panel’s decision in Ringers Western Limited (see TP24/33).
A review Panel has not been appointed at this stage and no decision has been made whether to conduct proceedings. The Panel makes no comment on the merits of the application.
The Panel has made a declaration of unacceptable circumstances (Annexure A) and final orders (Annexure B) in relation to an application dated 26 April 2024 by Bombora Investment Management Pty Ltd in its own capacity and as manager of the Bombora Special Investments Growth Fund, Evolution Trustees Limited, as responsible entity for the Bombora Special Investments Growth Fund, Brebec Pty Ltd as trustee for the Chenoweth Family Trust, Bryan Zekulich, Salam Nader Pty Ltd, Wyaga Investments Pty Ltd as trustee for the TNR Investments Trust, Jarumitoti Superannuation Fund Pty Ltd as trustee
Following certain actions by Metallica Minerals Limited (ASX:MLM) to address concerns of the Panel, the Panel declined to make a declaration of unacceptable circumstances in response to an application dated 21 May 2024 from Diatreme Resources Limited (ASX:DRX) in relation to the affairs of Metallica (see TP24/026).
Metallica is currently the subject of an off‑market takeover bid by Diatreme.
The Panel has accepted undertakings from Sequoia Financial Group Limited (Sequoia), Glennon Capital Pty Ltd and Glennon Small Companies Limited (together, Glennon Capital), Vonetta Pty Ltd (Vonetta) and Cojones Pty Ltd (Cojones) in relation to the application dated 15 May 2024 by Sequoia in relation to its affairs (see TP24/23).
The Panel is still considering the application.