Aura Energy Limited
Introduction
- The Panel, Alex Cartel (sitting President), Michael Lishman and Tara Page, declined to conduct proceedings on an application by Aura Energy Limited in relation to its affairs.
Virgin Australia Holdings Limited (Administrators Appointed) 02 - Panel Receives Application
The Panel has received an application from Broad Peak Investment Advisers Pte. Ltd. (for and on behalf of Broad Peak Master Fund II Limited and Broad Peak Asia Credit Opportunities Holdings Pte. Ltd) and Tor Investment Management (Hong Kong) Ltd (the Applicants) in relation to the affairs of Virgin Australia Holdings Limited (Administrators Appointed) (VAH).
Details of the application, as submitted by the Applicants, are below.
Webster Limited - President Makes Interim Order
The President of the Panel has made an interim order1 in relation to an application from Winpar Holdings Limited in relation to the affairs of Webster Limited (see TP20/38).
The interim order states that Henslow Acquisitionco Pty Ltd must not take any further steps in relation to the process to compulsorily acquire all of Webster’s preference shares pursuant to Part 6A.2.2
Webster Limited - Panel Receives Application
The Panel has received an application from Winpar Holdings Limited (NSX: WPH) in relation to the affairs of Webster Limited.
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 08R, 09R and 10R
Introduction
- The review Panel, Michael Borsky QC, Christian Johnston and Denise McComish (sitting President), affirmed the initial Panel’s decisions to make a declaration of unacceptable circumstances and orders in Keybridge Capital Limited 04, 05 & 06.1
- In these reasons, the following definitions apply.
- 17 April 2020 general meeting
- has the meaning given in paragraph 22
- ADIT
Keybridge Capital Limited 07
Introduction
- The Panel, Chelsey Drake, Bruce McLennan and Sharon Warburton (sitting President), consented to a request from Bentley Capital Limited and Scarborough Equities Pty Ltd to withdraw their application in relation to the affairs of Keybridge Capital Limited.
Strategic Minerals Corporation NL 06
Introduction
- The Panel, Rebecca Maslen-Stannage, Tony Osmond (sitting President) and Nicola Wakefield Evans, declined to conduct proceedings on an application by Ms Veronica Oma in relation to the affairs of Strategic Minerals Corporation NL. The application concerned a proposed renounceable entitlement issue by Strategic Minerals likely to result in Strategic Minerals’ controlling shareholder increasing its shareholding above 90% and proceeding to compulsory acquisition.
Aura Energy Limited - Panel Declines to Conduct Proceedings
The Panel has declined to conduct proceedings on an application dated 19 May 2020 from Aura Energy Limited in relation to its affairs.
The application concerned whether certain shareholders in Aura Energy were associated (see TP20/33).
Keybridge Capital Limited 07 - Panel Application Withdrawn
The Panel has consented to a request from Bentley Capital Limited and Scarborough Equities Pty Ltd to withdraw their application to the Panel dated 16 March 2020 in relation to the affairs of Keybridge Capital Limited (see TP20/16).
The Panel is satisfied that it is not against the public interest to consent to the applicants withdrawing their application. The Panel will publish its reasons for the decision to consent to the withdrawal in due course.
Panel Publishes Public Consultation Response Statement to Revised Guidance Note 20 on Equity Derivatives
The Takeovers Panel today published its Public Consultation Response Statement to revised Guidance Note 20 Equity Derivatives.
The Panel issued a consultation paper on proposed amendments of Guidance Note 20 on 10 April 2020. The Panel received submissions from ASIC, AFMA, Blackrock, Deutsche Bank, Mr Rod Halstead (in his own capacity), Herbert Smith Freehills, the Law Council,1 Minter Ellison, Norges Bank and Simmons & Simmons.