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AUTO GROUP LIMITED (ALO)

Delisted from ASX 29/08/2007


SHARE PRICES

2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996   ALL

Former (or subsequent) names


Shareholder links

REGISTRY:
Boardroom Pty Ltd (formerly Registries Limited), Level 7, 207 Kent Street, Sydney NSW 2000
Tel : +61 2 9290 9600 or 1300 737 760
Fax : +61 2 9279 0664 or 1300 653 459
RegistryWebsite RegistryEmail

Company details


Address: 50 Cosgrove Road , ENFIELD , NSW, AUSTRALIA, 2136
Tel:  (02) 8746 7000 Fax: (02) 8746 7001

Date first listed: 09/02/1994       Date delisted: 29/08/2007
Company Secretary: Mr Peter Boyle
Sector: Retailing Industry Group: 
Activities: Sale of used motor vehicles by auction

News & Events

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company deregistered 23/03/201223/03/2012
liquidators advise that, based on Counsel's written opinion, the Liquidators will not take any further action as there is unlikely to be any substantial recovery available to the Liquidators based on the information obtained from the examinations - liquidators have written to the Receivers requesting an estimated timeframe for completion of the receivership and are hopeful that both external administrations are able to be finalised in the near future - they note in this regard that the company shell is no longer available for sale, due to a lack of funding available to the Liquidators to maintain the listing fees08/11/2008
liquidators are awaiting final advice from Counsel arising out of the public examinations of directors and third parties before deciding whether to proceed with any potential claims for breaches of the Corporations Act - the liquidation is largely dormant at this time pending the finalisation of the receiverships (liquidators are in the process of requesting advice on this at the moment) - a report to creditors on the liquidation will be issued within the next 4 to 6 weeks08/04/2008
a loss declaration has been issued and the capital loss can therefore be claimed in the financial year the declaration is issued01/11/2007
liquidators confirm there have been no significant developments - in fact, they are still awaiting the return of all signed transcripts from the public examination process06/09/2007
delisted following failure to pay listing fee29/08/2007
liquidators advise that the initial examinations of directors have been concluded - at present they are awaiting the receipt of the transcripts from the court and upon receipt, will be determining whether to re-examine individuals/examine additional individuals and/or determine whether they wish to proceed with recovery actions - they do not envisage any distribution to shareholders except insofar as there may be nominal residual value in the shares, were the shell of the company to be sold31/01/2007
liquidators report that public examinations of the directors in November and December will help them determine whether to proceed with recovery actions and explore the possibility of a sale of the company shell01/12/2006
liquidator confirms that all companies were placed into liquidation pursuant to the second creditors' meeting held on 6 June 2006 - due to a shortfall experienced by the secured creditor, it is unlikely that unsecured creditors will receive a dividend - public examinations of directors will be conducted late in 200611/09/2006
second meeting of creditors to be held today to determine whether the company should execute a deed of company arrangement, the administration should end or the company be wound up - the administrators believe the group may have been trading while insolvent since October 2005 and are now recommending the group be wound up06/06/2006
the Administrators consider that while many factors contributed to the companies' failure, the key reason was the discovery of accounting irregularities that existed in the financial statements - these irregularities were announced to the ASX and, as a result, consumer confidence in the Group declined - given the nature of the business, this decline resulted in a decrease in turnover which ultimately caused the failure of the Group as a whole (would the group still be alive had the accounting irregularities been covered up?)06/06/2006
at the second meeting of creditors, creditors resolve that the Group be wound up and that SJ Parbery and MJ Robinson of PPB be appointed liquidators - it is considered that there is no likelihood of a dividend to unsecured creditors06/06/2006
the administrators are about to report to creditors - we should have a clearer view of where the administration is at, in about a week25/05/2006
A.P. Eagers Limited announces that it has reached agreement with the receivers of Auto Group Auctions Qld Pty Ltd, Ferrier Hodgson, to acquire the assets of Auto Group's Brisbane based motor vehicle auction business28/02/2006
first meetings of creditors held17/02/2006
shares suspended from quotation following the appointment of SJ Parbery and MJ Robinson of PPB as administrators - in the opinion of the company's board the company and its subsidiaries are insolvent or likely to become insolvent - this does not augur well for shareholders but it is too early to speculate on the outcomes - it will probably be at least several weeks before anything meaningful is available to shareholders13/02/2006
shares reinstated to quotation28/10/2005
following preliminary investigations into the 2005 Financial Statements by the newly appointed Chief Financial Officer of Auto Group, the board of Auto Group has formed the view that the consolidated net profit of Auto Group and its controlled entities for the year ended 30 June 2005 was overstated in the 2005 Financial Statements by approximately $4.5 million before tax - the company has requested that the suspension of its shares be lifted27/10/2005
shares suspended from quotation pending the release of an announcement regarding the company's investigations into its financial position (investigations of the financial statements are necessary to "ascertain whether or not they are accurate - while it is too early to know for certain, it is possible that irregularities may exist in those financial statements and that they may have a material impact on Auto Group's financial position as stated in its 2005 annual report")26/10/2005
the Board of A.P. Eagers Limited has reached in principle agreement with the Board of Auto Group Limited to explore a merger of the two companies - the respective Boards have yet to determine the consideration and whether that consideration would involve cash, shares in AP Eagers or a combination of both26/10/2005
annual report and accounts lodged and shares reinstated to quotation02/10/2003
shares suspended following failure to lodge full year accounts for period ended 30 June 200301/10/2003
name changed from Auto Logistics and Auctions Group Limited23/02/1996

ASX Announcements (courtesy of ASX)


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Directors' share transactions (last 5)

Directors & Executives (current)


NAMETITLEDATE OF APPT
Richard MoffittChairman, Non Exec Director
Geoffrey LordNon Exec Director

Directors & Executives (former)


NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
Denis AitkenNon Exec Director01/09/200231/03/2006