Energy Resources of Australia Limited 04 – Panel Declines to Conduct Proceedings

The Panel has declined to conduct proceedings on an application dated 4 September 2024 from Zentree Investments Limited and Packer & Co Ltd (Applicants) in relation to the affairs of Energy Resources of Australia Limited (ERA).

The application concerns ERA’s $880 million 19.87 for 1 renounceable entitlement offer announced on 29 August 2024 (see TP24/49).

Tissue Repair Ltd (Consent to Review) – President Declines Consent to Review

The Panel has received an application from Tissue Repair Ltd seeking the President’s consent to a review of the Panel’s decision to decline to conduct proceedings in Tissue Repair Ltd (see TP24/54).

The President of the Panel has declined to grant consent under section 657EA(2) of the Corporations Act 2001 (Cth) to a review. The Panel will publish the reasons for the President’s decision in due course.

Tissue Repair Ltd – Panel Accepts Undertaking and Declines to Conduct Proceedings

The Panel has declined to conduct proceedings on an application dated 28 August 2024 from Tissue Repair Ltd (TRP) in relation to its affairs, after accepting an undertaking from Spark Capital Pty Ltd and Mr Charara (see Annexure). Mr Charara is the co‑Founder and an executive director of TRP. He is also a director Spark Capital.

AIMS Property Securities Fund 05R – Review Panel Declines to Conduct Proceedings

The Panel has declined to conduct proceedings on an application of 30 August 2024 from 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 in relation to the affairs of AIMS Property Securities Fund.

The application concerned alleged undisclosed associations between certain unitholders in APW (see TP24/48).

AIMS Property Securities Fund 04

Introduction

  1. The Panel, Teresa Dyson, Jon Gidney and John Sheahan KC (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 in relation to the affairs of APW. The application concerned an alleged association between the controlling unitholder of APW and other shareholders.

Ringers Western Limited 02R

Introduction

  1. The review Panel, Alex Cartel (sitting President), Sandy Mak and John McGlue, affirmed the initial Panel’s decision to make a declaration of unacceptable circumstances in relation to the affairs of Ringers Western Limited.1 The review Panel agreed with the conclusions of the initial Panel for substantially the same reasons subject to the comments below.

Ringers Western Limited 03 – Panel Application Received and Withdrawn

The Panel received an application on 30 August 2024 from Bombora Investment Management Pty Ltd in its own capacity and as manager of the Bombora Special Investments Growth Fund, Quay Fund Services Limited as responsible entity for the Bombora Special Investments Growth Fund, Brebec Pty Ltd as trustee for the Chenoweth Family Trust, Bryan Zekulich, Salam Nader Pty Ltd, Wyaga Investments Pty Ltd as trustee for the TNR Investments Trust, Jarumitoti Superannuation Fund Pty Ltd as trustee for Jarumitoti Super Fund, and Malolo Holdings Pty Ltd (together the Applicants

Montu Group Pty Ltd – Panel Receives Application

The Panel has received an application from Wayne Irvine and Shawki Shahin (together, the Applicants) in relation to the affairs of Montu Group Pty Ltd (Montu).

Details of the application, as submitted by the Applicants, 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.

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