FBR Limited – Panel Application Withdrawn

The Panel has consented to a request by Mr Bob Ciesla to withdraw his application to the Panel dated 4 May 2025 in relation to the affairs of FBR Limited (see TP25/025).

The Panel is satisfied that it is not against the public interest to consent to the applicant withdrawing his application. Given the Panel had not yet made a decision on whether to conduct proceedings, the Panel does not propose to publish reasons in relation to this matter.

Pact Group Holdings Ltd 03 – Panel Receives Application

The Panel has received an application from Mr Jeremy Raper in relation to the affairs of Pact Group Holdings Ltd (ASX: PGH) (PGH).

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.

Details

The applicant is a shareholder of PGH.

Pact Group Holdings Ltd 02 – Panel Receives Application

The Panel has received an application from Mr Jeremy Machet and Scrap Invest Pty Ltd (the applicant) in relation to the affairs of Pact Group Holdings Ltd (ASX: PGH) (PGH).

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.

Emu NL 02R – Review Panel Declines to Conduct Proceedings

The review Panel has declined to conduct proceedings on an application dated 22 April 2025 from Emu NL seeking a review of the Panel’s decision in Emu NL (see TP25/024).

The review Panel considered that the applicant did not provide a sufficient body of evidence to justify the review Panel making further enquiries and did not set out in a clear way what the relevant circumstances were. The review Panel was not satisfied that, on the materials provided, there was a compelling case of association.

FBR Limited – Acting President Declines to Make Interim Orders

The Panel refers to the application dated 4 May 2025 by Mr Bob Ciesla in relation to the affairs of FBR Limited (see TP25/25).

The Acting President of the Panel has declined to make the interim order sought by the applicant to defer FBR Limited’s EGM scheduled to be held on Tuesday, 6 May 2025 at 10am (Perth time).

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.

Emu NL 02R – Panel Receives Review Application

The Panel has received an application from Emu NL (ASX: EMU) seeking a review of the Panel’s decision in Emu NL (see TP25/23).

The President of the Panel has consented to the application for review under section 657EA(2) of the Corporations Act 2001 (Cth).

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.

Vmoto Limited 02R

Introduction

  1. The review Panel, Joseph Fayyad, Kristen Jung and Karen Phin (sitting President), declined to conduct proceedings on an application by the Munro Family Super Fund in relation to the affairs of Vmoto Limited. The application concerned (among other things) alleged transfers of Vmoto shares to entities selected by the board and alleged deficiencies in the share buy-back conducted by Vmoto in the context of a proposed de-listing.

Dropsuite Limited – Declaration of Unacceptable Circumstances and Orders

The Panel has made a declaration of unacceptable circumstances (Annexure A) and final orders (Annexure B) in relation to an application dated 17 March 2025 by Harvest Lane Asset Management Pty Ltd in relation to the affairs of Dropsuite Limited (ASX: DSE) (Dropsuite) (see TP25/018 and TP25/020).

Background

Dropsuite is an ASX listed company.