The President's Club Limited 02 - New Interim Orders on Disposal

The Panel has previously made interim orders regarding (among other things) disposal of the shares in The President's Club Limited held by Coeur de Lion Investments Pty Ltd and its associated parties (see TP15/50). The orders were made in response to an application for interim orders dated 4 September 2015 by the Australian Securities and Investments Commission.

Affinity Education Group Limited

Introduction

  1. The Panel, Geoff Brunsdon (Sitting President), Elizabeth Bryan AM and Karen Evans-Cullen, made a declaration of unacceptable circumstances in relation to the affairs of Affinity Education Group Limited. The application concerned contraventions of s606, the substantial holding provisions and beneficial interest provisions by G8 and parties alleged to be associated with G8.

CuDeco Limited

Introduction

  1. The Panel, Alex Cartel, James Dickson (sitting President) and Elizabeth Hallett, declined to conduct proceedings on an application by Neville Lowe, a shareholder of CuDeco Limited representing 97 shareholders. The Applicant submitted (among other things) that CuDeco’s proposed rights issue had a control effect and there was deficient disclosure including in relation to the rights issue, its underwriters and the combined voting power of substantial shareholders.

Australian Industrial REIT

Introduction

  1. The Panel, Ron Malek, Tony Osmond and Robert Sultan (sitting President), declined to conduct proceedings on an application by Fife Capital Funds Limited as responsible entity of Australian Industrial REIT in relation to the affairs of ANI. 360 Capital Investment Management Limited as responsible entity of the 360 Capital Industrial Fund had made an off-market takeover bid for ANI. Fife Capital submitted that statements in a notice distributed by 360 Capital to ANI unitholders were misleading.
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