AIMS Property Securities Fund 03

Introduction

  1. The Panel, Marina Kelman, Robert McKenzie and Nicola Wakefield Evans (sitting President), declined to make a declaration of unacceptable circumstances in relation to the affairs of APW. The application concerned an alleged association between a controlling unitholder of APW who is also a director of its responsible entity APW RE, and his brother and sister.

A S P Aluminium Holdings Pty Ltd – Panel Receives Application

The Panel has received an application from Villefranche Investments Pty Limited as trustee of the Gates Family Trust (the Applicant) in relation to the affairs of A S P Aluminium Holdings Pty Ltd (ASP). 

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 Market Herald Limited – Court Application for an Extension of Time

The Panel has made an application to the Federal Court, seeking an order under section 657B of the Corporations Act 2001 (Cth) for the time that a Panel may make a declaration of unacceptable circumstances in relation to the affairs of The Market Herald Limited to be extended to 19 May 2023.

The First Case Management Hearing in relation to the Federal Court application is scheduled for 9.30am Friday, 5 May 2023 in Melbourne.

Healius Limited – Panel Declines to Conduct Proceedings

The Panel has declined to conduct proceedings on an application dated 28 March 2023 from Healius Limited (Healius) in relation to its affairs.

Healius is currently the subject of an off‑market scrip takeover bid made by Australian Clinical Labs Limited (ACL) and the application primarily concerned the contents of the Bidder’s Statement lodged in connection with the bid (see TP23/013).

Nitro Software Limited 03R

Introduction

  1. The review Panel, Teresa Dyson, Richard Hunt (sitting President) and Sandy Mak, affirmed the initial Panel’s decision not to make a declaration of unacceptable circumstances in relation to the affairs of Nitro Software Limited1. The review considered the use of a scheme/bid transaction structure in circumstances where a competing bidder held over 19% of Nitro.

Healius Limited – Panel Receives Application

The Panel has received an application from Healius Limited (ASX: HLS) (Healius) in relation to its affairs.

Healius is the subject of an off‑market scrip takeover bid made by Australian Clinical Labs Limited (ASX: ACL) (ACL).

Details of the application, as submitted by Healius, 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.

Nitro Software Limited 02

Introduction

  1. The Panel, Yasmin Allen (sitting President), James Burchnall and John O’Sullivan, declined to make a declaration of unacceptable circumstances in relation to the affairs of Nitro Software Limited. The application concerned the takeover offer by Potentia to acquire 100% of Nitro and whether Potentia had made adequate disclosure in connection with its bid funding, arrangements with co‑investors and the redeemable preference shares offered as part of the Scrip Alternative.
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