Montu Group Pty Ltd – Variation of Undertaking
Montu Group Pty Ltd – Variation of Undertaking
In response to a request from MG Invest Limited (MG Invest), the Panel has consented (on 11 March 2025) to a variation to MG Invest’s undertaking1 in Montu Group Pty Ltd which restricted MG Invest from initiating compulsory acquisition of Montu Group Pty Ltd (Montu) shares under Part 6A.2 for a 12‑month period (see TP24/60).
Appointment of Panel Members
The Takeovers Panel notes the reappointment of 14 members and the appointment of 4 new members to the Panel for terms of 3 years, effective 8 March 2025.
The following members have been appointed: Ms Kellie Benda, Mr Costas Condoleon, Ms Tonianne Dwyer and Ms Susan Forrester. The President and the Panel executive warmly welcome the new members.
Mr Alex Cartel has been reappointed as President and member of the Panel.
Vmoto Limited 02R – Panel Receives Review Application
The Panel has received an application from the Munro Family Super Fund seeking a review of the Panel’s decision in Vmoto Limited (see TP25/013).
The President of the Panel has consented to the application for review under section 657EA(2) of the Corporations Act 2001 (Cth) (Act).
Keybridge Capital Limited 15 and Benjamin Hornigold Ltd 13
Introduction
- The Panel, Michael Lishman, Rebecca Maslen-Stannage (sitting President) and Emma-Jane Newton declined to conduct proceedings on two applications from Keybridge Capital Limited – one in relation to its own affairs and the other in relation to the affairs of Benjamin Hornigold Ltd. The two applications (heard together) concerned alleged associations and contraventions of section 606 in the context of a requisitioned general meeting of Keybridge Capital Limited shareholders.
Vmoto Limited – Panel Declines to Conduct Proceedings
The Panel has declined to conduct proceedings on an application lodged on 17 February 2025 by the Munro Family Super Fund in relation to the affairs of Vmoto Limited (ASX: VMT) (Vmoto).
Invest Blue Pty Ltd (Consent to Review) – President Declines Consent to Review
The Panel has received an application from Kanenaro Pty Ltd ATF Denaro Family Superannuation Fund seeking the President’s consent to a review of the Panel’s decision to decline to conduct proceedings in Invest Blue Pty Ltd (see TP25/011).
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 on its website in due course.
Invest Blue Pty Ltd – Panel Declines to Conduct Proceedings
The Panel has declined to conduct proceedings on an application dated 17 February 2025 from Kanenaro Pty Ltd ATF Denaro Family Superannuation Fund in relation to the affairs of Invest Blue Pty Ltd (Invest Blue).
Keybridge Capital Limited (Administrator Appointed) 16 and Benjamin Hornigold Ltd 14 – Panel Receives Applications
The Panel has received two applications from Benjamin Hornigold Ltd (ASX: BHD) – one in relation to the affairs of Keybridge Capital Limited (Administrator Appointed, ASX: KBC) (Keybridge) and the other in relation to its own affairs. Details of the applications, as submitted by BHD, 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 applications.
Alara Resources Limited
Introduction
- The Panel, Yasmin Allen AM (sitting President), Chris Stavrianou and Philippa Stone made a declaration of unacceptable circumstances in relation to the affairs of Alara. The application concerned an underwritten renounceable rights issue that was sub‑underwritten by ATI (Alara’s largest shareholder).
Vmoto Limited – Panel Receives Application
The Panel has received an application from the Munro Family Super Fund in relation to the affairs of Vmoto Limited (ASX: VMT) (Vmoto).
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
The applicant is a shareholder in Vmoto.