Accelerate Resources Limited 01 & 02
Introduction
- The Panel, Shirley In’t Veld, Jeremy Leibler and John O’Sullivan (sitting President), made a declaration of unacceptable circumstances in relation to the affairs of Accelerate Resources Limited. The two applications (heard together) were made in the context of a requisitioned general meeting and concerned (among other things), a contravention of section 6061 as a result of shareholder support deeds entered into between Accelerate and certain shareholders.
Keybridge Capital Limited 07 - Panel Makes Interim Orders
The Panel has made interim orders1 in relation to the application dated 16 March 2020 by Bentley Capital Limited and Scarborough Equities Pty Limited in relation to the affairs of Keybridge Capital Limited (see TP20/16). The matter is currently suspended until the earlier of the determination of the Keybridge Capital Limited 08R, 09R and 10R proceedings and further determination of the Panel lifting the suspension.
Keybridge Capital Limited 04, 05 & 06
- The Panel, Chelsey Drake, Bruce McLennan and Sharon Warburton (sitting President), made a declaration of unacceptable circumstances in relation to the affairs of Keybridge Capital Limited. Keybridge was the subject of competing takeover bids from WAM Active Limited and Aurora Funds Management Limited as responsible entity for the Aurora Dividend Income Trust (ADIT).
Strategic Minerals Corporation NL 06 - Panel Declines to Conduct Proceedings
The Panel has declined to conduct proceedings on an application dated 20 April 2020 from Ms Veronica Oma in relation to the affairs of Strategic Minerals Corporation NL.
The application concerned a proposed renounceable entitlement issue by Strategic Minerals of two shares for every fifteen shares at an offer price of $0.36 per share to raise up to $4,122,818 (see TP20/28).
Accelerate Resources Limited 02 (Consent to Review of Interim Orders)
Introduction
- The substantive President of the Panel, Alex Cartel, declined to grant consent to an application for review of a decision of the sitting Panel to decline to make interim orders in the Accelerate Resources Limited 02 (Accelerate 02) proceedings.
- In these reasons, the following definitions apply.
- Accelerate
- Accelerate Resources Limited
- Accelerate 01
- has the meaning given in paragraph 9
Strategic Minerals Corporation NL 06 - President Makes Interim Orders
The President has made interim orders in relation to an application from Ms Veronica Oma in relation to the affairs of Strategic Minerals Corporation NL (see TP20/28).
The interim orders state that Strategic Minerals must immediately take all action necessary, in relation to its renounceable entitlement offer made under Strategic Minerals’ prospectus dated 3 April 2020, to:
Strategic Minerals Corporation NL 06 - Panel Receives Application
The Panel has received an application from Ms Veronica Oma in relation to the affairs of Strategic Minerals Corporation NL.
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.
Accelerate Resources Limited 01 & 02 - Orders
The Panel made a declaration of unacceptable circumstances on 16 April 2020 in relation to the affairs of Accelerate Resources Limited (Accelerate) (see TP20/27).
The Panel has made final orders (Annexure A), including that (in effect):
Keybridge Capital Limited 09R & 10R - Panel Receives Review Applications
The Panel has received two applications seeking a review of the Panel’s decision to make orders in relation to the affairs of Keybridge Capital Limited (Keybridge) in Keybridge Capital Limited 04, 05 and 06 (see TP20/24), namely: