Sierra Rutile Holdings Limited
Please use the PDF link above to access the media release. The HTML version will be available shortly.
Ringers Western Limited 02R – Review Panel Affirms Declaration of Unacceptable Circumstances and Agrees with Orders
The review Panel has affirmed the initial Panel’s decision to make a declaration of unacceptable circumstances in Ringers Western Limited (see TP24/033).
On 6 June 2024 the President of the Panel made interim orders that, among other things, stayed the initial Panel’s final orders cancelling 687,959,705,932 shares in Ringers Western Limited (see TP24/034).
Sequoia Financial Group Limited – Orders
The Panel has made final orders (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).
Background
On 28 June 2024, the Panel made a declaration of unacceptable circumstances in relation to the affairs of Sequoia (see TP24/39) which included findings that:
Locality Planning Energy Holdings Limited – Panel Accepts Undertakings and Declines to Make Declaration
Following the offering of undertakings by 2 of the directors of Locality Planning Energy Holdings Limited (ASX:LPE) and companies connected with them, to address concerns of the Panel, the Panel declined to make a declaration of unacceptable circumstances in response to an application dated 28 May 2024 from River Capital Pty Limited1 in relation to the affairs of Locality (see TP24/028).
Locality is currently the subject of an off‑market takeover bid by River Capital.
Ringers Western Limited
Please use the PDF link above to access the reasons for decsion. The HTML version will be available shortly.
Westgold Resources Limited – Panel Accepts Undertakings and Declines to Make a Declaration
The Panel has accepted undertakings from Westgold Resources Limited (Westgold) and Karora Resources Inc. (Karora) (see Annexure) and declined to make a declaration of unacceptable circumstances in response to an application dated 27 May 2024 from Ramelius Resources Limited (Ramelius) in relation to the affairs of Westgold (see TP24/29).
Mount Isa Minerals Limited
Introduction
- The Panel, Joseph Fayyad, Rebecca Maslen‑Stannage (sitting President) and John McGlue declined to conduct proceedings on an application by Lantech Developments Pty Ltd in relation to the affairs of Mount Isa Minerals Limited. The application concerned allegations that certain lenders to, and shareholders and directors of, Mount Isa Minerals were associated and were acting together to affect the composition of the board and to otherwise control and manage the company to the exclusion of other shareholders.
Pacific Smiles Group Limited – Panel Declines to Make Orders
The Panel has declined to make orders 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).
Background
Between 6 and 15 December 2023, Beam Investment Co Pty Limited (Beam) entered into several agreements with its consortium partners (referred to as Acquisition Agreements).
Sequoia Financial Group Limited – Declaration of Unacceptable Circumstances
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).
Background
Sequoia is an ASX‑listed company (ASX code: SEQ).
Energy Resources of Australia Limited 03 – Panel Declines to Conduct Proceedings
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).