PM Capital Asian Opportunities Fund Ltd – Panel Receives Application

The Panel has received an application from WAM Capital Limited in relation to the affairs of PM Capital Asian Opportunities Fund Ltd.

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.

AusNet Services Limited 01 – 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 23 September 2021 by Australian Pipeline Limited as responsible entity of the Australian Pipeline Trust and APT Investment Trust (APA) in relation to the affairs of AusNet Services Limited (AusNet) (see TP21/21).

Gascoyne Resources Limited – Panel Receives Application

The Panel has received an application from Westgold Resources Limited (Westgold) in relation to the affairs of Gascoyne Resources Limited (Gascoyne).

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.

AusNet Services Limited 02 – Panel Declines to Conduct Proceedings

The Panel has declined to conduct proceedings on an application dated 1 October 2021 from Brookfield Infrastructure Group (Australia) Pty Ltd in relation to the affairs of AusNet Services Limited.

AusNet has received competing proposals made by Brookfield and by Australian Pipeline Limited as responsible entity of the Australian Pipeline Trust and APT Investment Trust (APA) for control of AusNet (see TP21/23).

AusNet Services Limited 02 - Panel Receives Application

The Panel has received an application from Brookfield Infrastructure Group (Australia) Pty Ltd (Brookfield) in relation to the affairs of AusNet Services Limited (AusNet). AusNet has received competing proposals made by Brookfield and by Australian Pipeline Limited as responsible entity of the Australian Pipeline Trust and APT Investment Trust (APA) for control of AusNet.

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

AusNet Services Limited - Panel Receives Application

The Panel has received an application from Australian Pipeline Limited as responsible entity of the Australian Pipeline Trust and APT Investment Trust (APA) in relation to the affairs of AusNet Services Limited (AusNet). AusNet has received competing proposals made by APA and Brookfield Asset Management (Brookfield) for control of AusNet.

Details of the application, as submitted by APA and from public announcements, are below.

Sementis Limited

Introduction

  1. The Panel, Bruce Cowley, Marissa Freund and Diana Nicholson (sitting President), declined to make a declaration of unacceptable circumstances in relation to the affairs of Sementis Limited after accepting undertakings. The application concerned (among other things) an entitlement offer being undertaken by Sementis in circumstances where Fortitude Nominees (an entity controlled by a Sementis director) could potentially increase its voting power in Sementis from approximately 47.55% to a maximum of 59.3%.