The review Panel has declined to make a declaration of unacceptable circumstances in response to an application dated 26 September 2024 from Zentree Investments Limited and Packer & Co Ltd (the Applicants) seeking a review of the Panel’s decision in Energy Resources of Australia Limited 04 (see TP24/56).
The Panel has consented to a request by Louis Dreyfus Company Melbourne Holdings Pty Ltd (LDC) to withdraw its application to the Panel dated 18 September 2024 in relation to the affairs of Namoi Cotton Limited (ASX: NAM) (Namoi) (see TP24/053).
The applicant sought the Panel’s consent to withdraw its application after (among other events):
The Panel has received an application from Zentree Investments Limited and Packer & Co Ltd seeking a review of the Panel’s decision in Energy Resources of Australia Limited 04 (see TP24/56).
The Acting 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.
The Panel has declined to conduct proceedings on an application dated 4 September 2024 from Zentree Investments Limited and Packer & Co Ltd (Applicants) in relation to the affairs of Energy Resources of Australia Limited (ERA).
The application concerns ERA’s $880 million 19.87 for 1 renounceable entitlement offer announced on 29 August 2024 (see TP24/49).
The Panel has received an application from Tissue Repair Ltd seeking the President’s consent to a review of the Panel’s decision to decline to conduct proceedings in Tissue Repair Ltd (see TP24/54).
The President of the Panel has declined to grant consent under section 657EA(2) of the Corporations Act 2001 (Cth) to a review. The Panel will publish the reasons for the President’s decision in due course.
The Panel has declined to conduct proceedings on an application dated 28 August 2024 from Tissue Repair Ltd (TRP) in relation to its affairs, after accepting an undertaking from Spark Capital Pty Ltd and Mr Charara (see Annexure). Mr Charara is the co‑Founder and an executive director of TRP. He is also a director Spark Capital.
The Panel has received an application from Louis Dreyfus Company Melbourne Holdings Pty Ltd (LDC) in relation to the affairs of Namoi Cotton Limited (ASX: NAM) (Namoi). Namoi is currently the subject of two competing off‑market takeover offers from LDC and Olam Agri Australia Pty Ltd (Olam).
Details of the application, as submitted by the applicant, are below.
The Panel has declined to conduct proceedings on an application of 30 August 2024 from 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 in relation to the affairs of AIMS Property Securities Fund.
The application concerned alleged undisclosed associations between certain unitholders in APW (see TP24/48).