Montu Group Pty Ltd
Please use the PDF link above to access the reasons for this decision. The HTML version will be available shortly.
Panel Applications and Announcements During the Holiday Season
The Panel’s office will be closed from 5pm (Melbourne time) on Tuesday 24 December 2024, reopening on Thursday 2 January 2025. A small number of staff will be available to deal with urgent matters during this period (other than the Christmas Day, Boxing Day and New Year’s Day public holidays). If you are considering lodging an application during this period, please call us on (03) 9655 3500 at your earliest convenience and prior to the closure of the office.
Alara Resources Limited – Panel Receives Application
The Panel has received an application from Mr Kent Bedford1 (the Applicant) in relation to the affairs of Alara Resources Limited (ASX: AUQ) (Alara).
Details of the application, as submitted by the Applicant, are below.
A sitting 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.
Energy Resources of Australia Limited 05R
Introduction
- The review Panel, Robin Bishop (sitting President), Elizabeth Hallett and Jeremy Leibler, declined to make a declaration of unacceptable circumstances in relation to the affairs of Energy Resources of Australia Limited. The application concerned the proposed $880 million 19.87 for 1 renounceable entitlement offer announced by Energy Resources of Australia Limited on 29 August 2024. After considering the further submissions from the parties, the review Panel reached similar conclusions to the initial Panel.
Remembering George Durbridge – The Panel’s first General Counsel
The President, Panel members and executive were saddened to hear that George Durbridge recently passed away.
George was the first General Counsel of the Panel from 2000 to 2007, having previously worked as General Counsel at ASIC (1990 to 2000) and as a senior lawyer at the National Companies and Securities Commission (from 1986).
AIMS Property Securities Fund 05R
Introduction
- The review Panel, Ruth Higgins SC, Bruce McLennan and Karen Phin (sitting President), declined to conduct proceedings on an application by Benjamin Graham atf the Graham Family Trust and Warwick Sauer in his personal capacity and as a director of Baauer Pty Ltd atf the Baauer Family Trust to review the decision of the initial Panel to decline to conduct proceedings in AIMS Property Securities Fund 04.1 The review application concerned an alleged association between the controlling unitholder of APW and other un
Tissue Repair Ltd
Introduction
- The Panel, Bruce Cowley, Kierin Deeming and Chelsey Drake (sitting President), declined to conduct proceedings on an application by Tissue Repair Ltd in relation to its affairs. The application concerned an alleged undisclosed association between certain shareholders of the company in favour of requisitioning a meeting for a restructure of the company’s board.
Montu Group Pty Ltd – Declaration of Unacceptable Circumstances and Undertakings
The Panel has made a declaration of unacceptable circumstances (Annexure A) and accepted undertakings in lieu of orders (Annexure B) in relation to an application dated 6 September 2024 by Wayne Irvine and Shawki Shahin in relation to the affairs of Montu Group Pty Ltd (Montu) (see TP24/050).
Tissue Repair Ltd (Consent to Review)
Introduction
- The substantive President of the Panel, Alex Cartel, declined to grant consent to an application for review of a decision of the sitting Panel to decline to conduct proceedings in Tissue Repair Ltd.
- In these reasons, the following definitions apply.
- Notices
- has the meaning given in paragraph 6
- Spark Capital
- Spark Capital Pty Limited
- TRP
- Tissue Repair Ltd
- Undertaking
- has the meaning given in paragraph 8