The Panel has made orders (Annexure A) requiring DRA Global Limited, Alistair Hodgkinson, Darren Naylor, James Smith and Brian Dowding to pay the fair and reasonable costs incurred by the applicant, Haydn von Maltitz, in connection with the proceedings in DRA Global Limited (see TP22/39 and TP22/41).
The Panel has made orders (Annexure A) requiring Nex Metals Explorations Ltd to pay part of the costs of the applicant, Metalicity Ltd, in Nex Metals Explorations Ltd 05 (see TP22/34).
The sitting Panel was Elizabeth Hallett (sitting President), Christian Johnston and Rob McKenzie.
The Panel will publish its reasons for the decision in due course on its website.
The Panel has received an application from Nex Metals Explorations Ltd (ASX: NME) in relation to its affairs. Nex Metals is the subject of an off-market scrip takeover bid from Metalicity Ltd (ASX: MCT).
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.
The Panel has declined to conduct proceedings on a review application dated 10 May 2022 from Virtus Health Limited (Virtus) in relation to its affairs. The application sought a review of the initial Panel’s decision in Virtus Health Limited 05 (see TP21/38).
The Panel has made final orders (Annexure A) in relation to an application dated 21 March 2022 by Haydn von Maltitz in relation to the affairs of DRA Global Limited (DRA) (see TP22/24).
The Panel has received an application from Virtus Health Limited seeking a review of the Panel’s decision in Virtus Health Limited 05 (see TP22/38).
The President of the Panel has consented to the application for review under section 657EA(2) of the Corporations Act 2001 (Cth).
The Panel has made a declaration of unacceptable circumstances (Annexure A) in relation to an application dated 21 March 2022 by Haydn von Maltitz in relation to the affairs of DRA Global Limited (DRA) (see TP22/24).
DRA is an ASX listed company (ASX/JSE: DRA).
The Panel has declined to conduct proceedings on an application dated 29 April 2022 from Virtus Health Limited (Virtus) in relation to its affairs.
Virtus is the subject of competing control proposals for all its fully paid ordinary shares from both BGH Capital Pty Ltd1 (BGH Bidders) and CapVest Partners LLP (CapVest) which have been the subject of several Panel applications.2
The Panel has declined to conduct proceedings on an application dated 21 April 2022 from Au Xingao Investment Pty Ltd (Xingao) in relation to the affairs of Bullseye Mining Limited (Bullseye) (see TP22/32). Bullseye is currently the subject of takeover bids by Emerald Resources NL (ASX:EMR) and Xingao.
Among other things, Xingao had submitted that Bullseye (in summary) failed to:
The review Panel has declined to conduct proceedings on a review application dated 22 April 2022 from CapVest Partners LLP (CapVest) in relation to the affairs of Virtus Health Limited (Virtus). The application sought a review of the initial Panel’s decision in Virtus Health Limited 03 (see TP22/30).