Revised Panel Fees
The fees payable for Panel applications are indexed each year from 1 July based on any increase in the Consumer Price Index, pursuant to the Corporations (Fees) Act 2001 (Cth) and Corporations (Fees) Regulations 2001 (Cth).
Appointments to the Australian and New Zealand Panels
The Panel notes the joint media release from the Minister for Finance (and Acting Assistant Treasurer) and the New Zealand Minister for Commerce announcing the appointment of Mr David Jones, MNZM (Chairperson of the New Zealand Panel) to the Panel until 30 September 2015 and the appointment of Mr Richard Hunt (a member of the Panel) to the New Zealand Panel until 7 March 2015.
Ambassador Oil and Gas Limited 02 - Panel Receives Application/Acting President Makes Interim Order
The Panel has received an application from Drillsearch Energy Limited in relation to the affairs of Ambassador Oil and Gas Limited. Ambassador Oil is subject to competing bids by Drillsearch and Magnum Hunter Resources Corporation.1
Details of the application, as submitted by the applicant, are below.
Ambassador Oil and Gas Limited - Undertaking
The Panel has accepted undertakings from Mrs Fotoula Hatziladas, Miller Anderson Pty Ltd and Mr David Shaw in relation to the application dated 18 June 2014 by Magnum Hunter Corporation Limited.
Sherwin Iron Limited - Panel Receives Application
The Panel has received an application from Mr Jerry Ren and his related parties Citizen International Investment Pte Ltd and Citizen International Investment Limited in relation to the affairs of Sherwin Iron Limited.
Ambassador Oil and Gas Limited - Panel Makes Interim Orders
The Acting President of the Panel has made interim orders in response to an application for interim orders dated 18 June 2014 by Magnum Hunter Resources Corporation in relation to the affairs of Ambassador Oil and Gas Limited.
Northern Iron Limited - Declaration of Unacceptable Circumstances and Orders
The Panel has made a declaration of unacceptable circumstances and final orders in relation to an application dated 23 May 2014 by Northern Iron Limited in relation to its affairs.
Gondwana Resources Limited
The Panel, Sarah Dulhunty (sitting President), Andrew Low and Sophie Mitchell, made a declaration of unacceptable circumstances and accepted undertakings in lieu of orders in relation to the affairs of Gondwana Resources Limited. The application concerned a 1 for 1 non-renounceable entitlement issue and its potential effect on control. The Panel considered, among other things, that all reasonable steps to minimise the potential control effect of the entitlement issue were not taken.
Ambassador Oil and Gas Limited - Panel Receives Application
The Panel has received an application from Magnum Hunter Resources Corporation in relation to the affairs of Ambassador Oil and Gas Limited. Ambassador Oil is subject to competing bids by Drillsearch Energy Limited and Magnum.
Gondwana Resources Limited - Panel Publishes Reasons
The Panel today published the reasons for its decision on an application dated 29 April 2014 from Ochre Group Holdings Limited in relation to the affairs of Gondwana Resources Limited.