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).
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:
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.
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):
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:
The Panel has made a declaration of unacceptable circumstances (Annexure A) in relation to applications dated 4 March 2020 and 17 March 2020 by GTT Global Opportunities Pty Ltd (see TP20/10 and TP20/17) in relation to the affairs of Accelerate Resources Limited (Accelerate).1
Accelerate is an ASX listed company (ASX code: AX8).
On 9 April 2020, the Panel received an application from Aurora Funds Management Limited as responsible entity for Aurora Dividend Income Trust, HHY Fund and Aurora Fortitude Absolute Return Funds seeking a review of the Panel’s decision to make a declaration of unacceptable circumstances and orders in relation to the affairs of Keybridge Capital Limited (Keybridge) in Keybridge Capital Limited 04, 05 and 06 (see TP20/23 and TP20/24).
The Panel made a declaration of unacceptable circumstances on 7 April 2020 in relation to the affairs of Keybridge Capital Limited (see TP20/23).
The Panel has made final orders (Annexure A), including that (in effect):
The Panel has made a declaration of unacceptable circumstances (Annexure A) in relation to applications dated 18 February 2020 and 28 February 2020 by WAM Active Limited (see TP20/08 and TP20/09) and dated 12 March 2020 by Keybridge Capital Limited (see TP20/14), in each case in relation to the affairs of Keybridge.
The following facts are in summary form (see the declaration for more background).