The Panel has received an application from Keybridge Capital Limited in relation to the affairs of Webcentral Group Limited. Webcentral is subject to a takeover bid from 5G Networks Limited.

Details of the application, as submitted by Keybridge, 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

On 17 September 2020, Webcentral announced that:

The Panel has received an application from Forager Funds Management Pty Ltd in relation to the affairs of Thorn Group Limited (ASX: TGA).

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 conducted a review of its Procedural Rules and has published a draft set of remade rules on its website for public consultation.

The Panel’s current Procedural Rules are due to sunset on 1 April 2021.  Given the Panel’s preliminary view that the existing Procedural Rules are operating effectively and efficiently, the Panel proposes to remake the Procedural Rules in a new instrument prior to the sunset date without significant changes. 

The Panel has declined to conduct proceedings on an application dated 11 September 2020 from WAM Active Limited in relation to the affairs of Keybridge Capital Limited.

On the application of Aurora Funds Management Ltd as responsible entity for the Aurora Fortitude Absolute Return Fund and Aurora Global Income Trust (Aurora), the Panel has varied the Panel’s orders in Molopo Energy Limited 03R, 04R & 05R.¹  Among other things, the orders vested certain shares in Molopo Energy Limited (Molopo) held by Aurora and Keybridge Capital Limited (Keybridge) in ASIC for sale.

The Panel has received an application dated 11 September 2020 from WAM Active Limited (ASX: WAA) in relation to the affairs of Keybridge Capital Limited (ASX: KBC). 

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

On 28 April 2020, WAM Active announced an unconditional takeover bid for Keybridge.

On the application of WAM Active Limited, the Panel has varied the Panel’s orders in Keybridge Capital Limited 04, 05 & 06 (see TP20/24).  These orders were previously affirmed by the Panel in Keybridge Capital Limited 08R, 09R & 10R (see TP20/34).  Relevantly, the orders give persons who accepted into WAM Active’s off-market takeover bid for Keybridge,¹ and who had their acceptances processed, a reversal right.