Panel Applications and Announcements During the Holiday Season

The Panel’s office will be closed from 5pm (Melbourne time) on Tuesday 24 December 2024, reopening on Thursday 2 January 2025. A small number of staff will be available to deal with urgent matters during this period (other than the Christmas Day, Boxing Day and New Year’s Day public holidays). If you are considering lodging an application during this period, please call us on (03) 9655 3500 at your earliest convenience and prior to the closure of the office.

Alara Resources Limited – Panel Receives Application

The Panel has received an application from Mr Kent Bedford1 (the Applicant) in relation to the affairs of Alara Resources Limited (ASX: AUQ) (Alara).

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.

Energy Resources of Australia Limited 05R

Introduction

  1. The review Panel, Robin Bishop (sitting President), Elizabeth Hallett and Jeremy Leibler, declined to make a declaration of unacceptable circumstances in relation to the affairs of Energy Resources of Australia Limited.  The application concerned the proposed $880 million 19.87 for 1 renounceable entitlement offer announced by Energy Resources of Australia Limited on 29 August 2024. After considering the further submissions from the parties, the review Panel reached similar conclusions to the initial Panel.

AIMS Property Securities Fund 05R

Introduction

  1. The review Panel, Ruth Higgins SC, Bruce McLennan and Karen Phin (sitting President), declined to conduct proceedings on an application by Benjamin Graham atf the Graham Family Trust and Warwick Sauer in his personal capacity and as a director of Baauer Pty Ltd atf the Baauer Family Trust to review the decision of the initial Panel to decline to conduct proceedings in AIMS Property Securities Fund 04.1 The review application concerned an alleged association between the controlling unitholder of APW and other un

Tissue Repair Ltd

Introduction

  1. The Panel, Bruce Cowley, Kierin Deeming and Chelsey Drake (sitting President), declined to conduct proceedings on an application by Tissue Repair Ltd in relation to its affairs. The application concerned an alleged undisclosed association between certain shareholders of the company in favour of requisitioning a meeting for a restructure of the company’s board.

Tissue Repair Ltd (Consent to Review)

Introduction

  1. 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 conduct proceedings in Tissue Repair Ltd.
  2. In these reasons, the following definitions apply.
    Notices
    has the meaning given in paragraph 6
    Spark Capital
    Spark Capital Pty Limited
    TRP
    Tissue Repair Ltd
    Undertaking
    has the meaning given in paragraph 8

Facts

Namoi Cotton Limited

Introduction

  1. The Panel, Jon Gidney, John McGlue and Rory Moriarty (sitting President), consented to a request from Louis Dreyfus Company Melbourne Holdings Pty Ltd to withdraw its application in relation to the affairs of Namoi Cotton Limited. Namoi Cotton Limited was the subject of two competing off‑market takeover offers from Louis Dreyfus Company Melbourne Holdings Pty Ltd and Olam Agri Australia Pty Ltd.
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