Ringers Western Limited 02R

Introduction

  1. The review Panel, Alex Cartel (sitting President), Sandy Mak and John McGlue, affirmed the initial Panel’s decision to make a declaration of unacceptable circumstances in relation to the affairs of Ringers Western Limited.1 The review Panel agreed with the conclusions of the initial Panel for substantially the same reasons subject to the comments below.

Ringers Western Limited 03 – Panel Application Received and Withdrawn

The Panel received an application on 30 August 2024 from Bombora Investment Management Pty Ltd in its own capacity and as manager of the Bombora Special Investments Growth Fund, Quay Fund Services Limited as responsible entity for the Bombora Special Investments Growth Fund, Brebec Pty Ltd as trustee for the Chenoweth Family Trust, Bryan Zekulich, Salam Nader Pty Ltd, Wyaga Investments Pty Ltd as trustee for the TNR Investments Trust, Jarumitoti Superannuation Fund Pty Ltd as trustee for Jarumitoti Super Fund, and Malolo Holdings Pty Ltd (together the Applicants

Montu Group Pty Ltd – Panel Receives Application

The Panel has received an application from Wayne Irvine and Shawki Shahin (together, the Applicants) in relation to the affairs of Montu Group Pty Ltd (Montu).

Details of the application, as submitted by the Applicants, 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.

Metallica Minerals Limited

Introduction

  1. The Panel, Alberto Colla, Christian Johnston (sitting President) and Kristen Jung, declined to make a declaration of unacceptable circumstances on an application by Diatreme Resources Limited in relation to the affairs of Metallica Minerals Limited. Metallica was subject to an off-market takeover offer by Diatreme to acquire all of the issued shares in Metallica.

Energy Resources of Australia Limited 04 – Panel Receives Application

The Panel has received an application 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.

Details of the application, as submitted by the Applicants, are below.

AIMS Property Securities Fund 05R – Panel Receives Review Application

The Panel has received an application 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 seeking a review of the Panel’s decision in AIMS Property Securities Fund 04 (see TP24/46).

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.

Tissue Repair Ltd – Panel Receives Application

The Panel has received an application from Tissue Repair Ltd (TRP) in relation to its affairs. The application concerns an alleged undisclosed association between certain shareholders of the company.

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

TRP is an ASX‑listed company (ASX: TRP).

AIMS Property Securities Fund 04 – Panel Declines to Conduct Proceedings

The Panel has declined to conduct proceedings on an application of 22 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 (APW).

The application concerned alleged undisclosed associations between certain unitholders in APW (see TP24/45).

Energy Resources of Australia Limited 03

Introduction

  1. The Panel, Robin Bishop (sitting President), Louise Higgins and Jeremy Leibler, declined to conduct proceedings on an application by Zentree Investments Limited in relation to the affairs of Energy Resources of Australia Limited. The application concerned a potential capital raising announced by ERA on 12 March 2024. The application also concerned conduct by ERA and Rio Tinto Limited, which has voting power of 86.3% of ERA, that the applicant submitted was part of an unacceptable strategy by Rio to achieve 100% ownership of ERA.
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