Category Archives: Insights

  1. AGM Season 2019. Calendar - 29 November

    AGM Season 2019: Preparing the notice of AGM

    With the Annual General Meeting (AGM) season soon to arrive, we would like to remind listed companies with a 30 June year end of the requirement to hold their AGM by 30 November 2019 and to set out some of the considerations that should be taken into account in preparing the notice of AGM.

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  2. Voting Hands. Gazal decision prompts scrutiny of director benefits in schemes.

    Gazal decision prompts scrutiny of director benefits in schemes

    The recently published decision of Farrell J in Re Gazal Corporations Ltd [2019] FCA 701, has led to novel principles scrutinising the actions of directors who are entitled to receive bonuses and benefits in relation to schemes of arrangement. We review four recent decisions, their impact and future considerations for directors in regards to bonuses and benefits in schemes.  

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  3. Western Australian outback. Aboriginal heritage legislation

    Proposals for new Aboriginal Heritage legislation in Western Australia: implications for industry

    A Discussion Paper for the new Aboriginal Heritage legislation was released earlier this month by the WA Minister for Aboriginal Affairs proposing the replacement of the current Aboriginal Heritage Act 1972 (WA) with “modern” heritage legislation, providing for a new land use proposal and approvals framework. If implemented as proposed, the new legislation will have significant implications for how mining and resource industry land users manage Aboriginal Heritage risk.

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  4. Proposed changes to the ASX listing rules

    Are you still getting your 2 cents worth? How ASX’s proposed guidance note amendments will affect back door listings

    The ASX released a public consultation paper in November 2018 proposing a raft of changes to the ASX Listing Rules and associated Guidance Notes. We explain how the proposed amendments will affect backdoor listings and in particular pre-emptive capital raisings and loans.

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  5. Hardey Resources Limited removed from ASX’s official list

    Too Hardey to Unscramble – ASX seeks to remove Hardey Resources Limited from official list

    Earlier this week, the ASX proposed strong action against Hardey Resources Limited (ASX: HDY) (Hardey or Company), proposing to de-list the Company. The move comes following a string of query letters issued by ASX in connection with two recent acquisitions by Hardey of Nelly Vanadium Pty Ltd (Nelly Vanadium) and Vanadium Mining Pty Ltd (Vanadium Mining).

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  6. Invoice. ASX Information Forms and Checklist (IFC)

    Over and above normal – ASX puts adviser fees under the microscope

    On 4 December 2018, ASX released a compliance update, which includes a revised Information Forms and Checklist (IFC) – being the form used to accompany an entity’s listing application. The IFC is used in the context of both initial public offers (IPOs) and backdoor listings.

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  7. Annual General Meeting Requirements 2018

    Annual General Meeting requirements

    We would like to take this opportunity to remind you of the requirement for listed companies with a 30 June year end to hold their Annual General Meeting (AGM) by 30 November 2018 and to set out some of the considerations that should be taken into account in preparing the notice of AGM.

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  8. ASIC action to a tardy retraction – how soon is now?

    ASIC recently published a media release concerning ASX-listed Gold Mountain Limited (GMN), which paid a fine of $33,000 and will be restricted from using a reduced content prospectus until 20 July 2019 following its failure to retract material misinformation in a timely manner.

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  9. Focus on spread by regulators (ASIC ban)

    Focus on spread by regulators

    Last week, ASIC banned a former financial advisor from providing financial services for seven years for falsifying spread. Following an investigation, ASIC found that Mr Mark Kawecki knowingly provided the ASX with false information regarding the identity of the beneficial holders of shares.

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  10. Stock market. Research reports on the ASX platform

    Research Reports on the ASX platform

    On Friday 11 May 2018, ASX released a compliance update which sets out that listed entities generally should not lodge a broker or analyst research report about the entity (Research Report) or an announcement referring to the release or contents of a Research Report for release on the ASX market announcements platform.

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