Cardinal Resources Limited - Panel Receives Application
The Panel has received an application from Nord Gold S.E. (Nordgold) in relation to the affairs of Cardinal Resources Limited (ASX/TSX: CDV). Cardinal is the subject of competing takeover bids from Nordgold and Shandong Gold Mining (HongKong) Co., Limited (Shandong).
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.
Webcentral Group Limited - Panel Receives Application
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:
Thorn Group Limited 02 - Panel Receives Application
The Panel has received an application from Vaspip 2 Pty Ltd in relation to the affairs of Thorn Group Limited (ASX: TGA).
Details of the application, as submitted by the Applicant, are below. Further background details are set out in the Panel’s media release relating to the receipt of Forager Funds Management Pty Ltd’s application in Thorn Group Limited (see TP20/59).
A sitting Panel has not been appointed at this stage and no decision has been made whether to conduct proceedings.
Thorn Group Limited - Panel Receives Application
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.
Keybridge Capital Limited 14
Introduction
- The Panel, Bruce Cowley, Richard Hunt (sitting President) and Tracey Horton declined to conduct proceedings on an application by WAM Active Limited in relation to the affairs of Keybridge Capital Limited.
Alto Metals Limited
Introduction
- The Panel, Kelvin Barry, Paula Dwyer (sitting President) and Rory Moriarty, made a declaration of unacceptable circumstances in relation to the affairs of Alto Metals Limited. The application concerned (among other things) whether an entitlement offer announced by Alto operated to stymie an unconditional takeover bid made by Habrok (Alto) Pty Ltd.
Remaking of Procedural Rules - Panel Releases Consultation Draft
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.
Keybridge Capital Limited 14 - Panel Declines to Conduct Proceedings
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.
Molopo Energy Limited 03R, 04R & 05R Variation - Variation of Orders
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.