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Delisted from ASX 05/03/2018


Former (or subsequent) names


Shareholder links

Our website ranking of CFU: rating 5
(5 out of 5)


Computershare, Yarra Falls, 452 Johnston Street, Abbotsford VIC 3067
Tel : +61 3 9415 4000 or 1300 850 505
Fax : +61 3 9473 2500
RegistryWebsite RegistryEmail

Company details

Address: 170 Browns Road, NOBLE PARK, VIC, AUSTRALIA, 3174
Tel:  61 3 9554 2300 Fax: 61 3 9554 2910

Date first listed: 05/07/2004
Company Secretary: Matt John Adams
Sector: Capital Goods Industry Group: XNJ
Activities: Development of ceramic (solid oxide) fuel cell technology
delisted from the commencement of trading on Monday, 05 March 2018, pursuant to Listing rule 17.12.05/03/2018
we understand this company failed and ASX removed the company from listing as its securities have not been quoted for three years05/03/2018
On 5 October 2016, the terms were met to enable effectuation of the DOCA, and accordingly, the Deed Administration has now been finalised. The company is now released from external administration and is now under the control of its directors which were appointed under the terms of the DOCA as discussed.05/10/2016
The company provides the list of its top 20 shareholders.04/10/2016
The company, administrators and Litigation Capital Partners Funding executed the DOCA. The Creditors' Trust Deed was also executed on 23 September 2016. Upon execution of the DOCA, the winding up of the company was terminated pursuant to the court's orders and Section 482(1) of teh Corporations Act 2001. The DOCA is required be completed within 7 days from 23 September 2016, following which the Company will be under the control of LCP's management. An update will be published on the ASX at this time. 26/09/2016
On 9 September 2016, the Supreme Court of Victoria heard our application seeking orders to allow the company to enter into a DOCA proposed by Litigation Capital Partners or its nominee. The nominee has now been confirmed b be Litigation Capital Partnem Funding Pte Ltd. . On 12 September 2016, the Orders were made which require the company and LCP to execute the DOCA within 14 days. The orders also have the effect of terminating the company's liquidation upon execution of the DOCA, amongst other things. 15/09/2016
On 1 June 2016, creditors resolved that the company be authorised to enter into a DOCA which was required to be executed within 15 businses days after the end of the creditors' meeting. However, circumstances resulted in the DOCA not being executed within this timeframe. Prior to the expiry of this date, an application to seek an extension of time was filed with the Supreme Court of Victoria. On 16 August 2016, an affidavit supporting this application was filed and is expected that a hearing date will be set down shortly. In addition to seeking an extension of time to enter into a DOCA, the application will also seek an order permitting the creditor approved DOCA proposal to be substituted with an alternative DOCA proposal, which is considered more favorable to the company's creditors.24/08/2016
At a duly convened meeting of creditors last 1 June 2016, creditors resolved that the company be authorised to execute a DOCA as proposed by Tiga. Once executed, the DOCA will be binding on the company, the administrators, its creditors and Tiga. The DOCA is the mechanism through which a recapitalisation of the company is able to be effectuated.03/06/2016
On 27 April 2016, the company's creditors passed a resolution consenting to Mr. Walsh and Mr. Nikitins being appointed as Joint and Several Administrators of the company. In their capacity as joint and several liquidators, Mr. Walsh and Mr. Nikitins appointed themselves ans Joint and Several Administrators of the company on the same date.28/04/2016
The company announces closure of CHESS subregister.23/09/2015
a loss declaration has been issued - if you are still a shareholder, the capital loss can be claimed in the financial year the declaration is issued - in this case 2014-1529/06/2015
The company lodges an announcement about a sale of assets10/06/2015
With the sale of business and assets process ongoing, liquidators are unable to form a definite view as to the value of the Company's shares however, based on current estimates, it appears unlikely that there will be a return to shareholders. Shareholders seeking to claim a capital loss are directed to take their own tax and legal advice on this matter. The Joint and Several Liquidators are unable to provide advice in this regard22/04/2015
creditors resolve to wind up the Company16/04/2015
Shareholders seeking to claim a capital loss are directed to take their own tax and legal advice on this matter by the Joint and Several Administrators who are unable to provide you with advice in this regard - deListed provides a service for those shareholders seeking to crystallise their loss06/03/2015
Arden Partners plc has stepped down as the Company's Nominated Adviser with immediate effect04/03/2015
suspended from Official Quotation from the commencement of trading today 2 March 2015 following failure to lodge their Half Yearly Reports for the period ending 31 December 201402/03/2015
Adam Nikitins and Justin Walsh of Ernst & Young have been appointed Voluntary Administrators of the Company, with effect from yesterday evening. The appointment of the Voluntary Administrators to the Company in Australia will also impact the international corporate operations of the Company, which the Voluntary Administrators will consider. The Company has been unsuccessful in securing further funding to enable it to explore a corporate transaction to maintain the ongoing future operations of the Company and the Directors have been left with no option but to place the Company under external administration02/03/2015

ASX Announcements (courtesy of ASX)


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If you have any information about what is happening to our shares, please let me know.  0434-115-911

04/11/2017 00:29:27

With electricity prices soaring in Australia, surely there is some way to revive the promise of CFU!  Are the directors doing anything??

04/11/2017 00:15:35

If you expect the shareholders to stay silent without returning their shares to them after re-capitalization you are deluding yourselves!


14/12/2016 04:28:27

I believe that the company had a great product and tremendous potential. It should never have got to this stage.


 I note under the heading \"News & Events\" dated 3/6/2016 that \"DOCA is the mechanism through which a recapitalisation of the company is able to be effectuated\".


If the company is recapitalised do existing shareholders get a look in ? I would hate to think that some of the former directors could get their hands on the IP and loyal shareholders are left out.

06/08/2016 11:49:30

It is difficult to understand how the company claimed to have valuable IP, but there is no residual value available for distribution to shareholders.

10/05/2016 18:48:30

Promising development totally defunct - why?  Any chance of shareholders getting ANY return on their shares?

18/01/2016 17:18:00

Company Updates

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    Directors' on-market share transactions (last 5)

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    Purchases Sales

    20/12/2013Robert KennettOn market GBP140,000$0.021$2,968
    04/10/2012Robert KennettOn market GBP40,000$0.044$1,752
    22/12/2011Janine HoeyOn market100,000$0.105$10,500
    27/10/2011Roman DudenhausenOn market500,000$0.130$65,000

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    Kyla SingletonDirector04/10/2016
    Damien HodgkinsonDirector04/10/2016
    Song QixiangDirector04/10/2016

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    Quentin OldeDirector04/10/201609/11/2017
    Alasdair LockeChairman24/09/201204/10/2016
    Robert KennettManaging Director, CEO01/08/200604/10/2016
    Karl FogerNon Exec Director01/08/201404/10/2016
    Clifford AshbyExecutive Director, CFO17/07/201304/10/2016
    Roman DudenhausenNon Exec Director17/05/201131/07/2014
    Peter BinksNon Exec Director05/05/200903/03/2014
    Janine HoeyNon Exec Director01/07/201130/09/2013
    Tony SherburnCFO01/01/200210/07/2013
    Brendan DowManaging Director21/03/200531/12/2012
    John DempseyNon Exec Director01/06/200231/12/2012
    Jeff HardingChairman17/09/200729/10/2012
    Roy RoseNon Exec Director07/07/200929/10/2012
    Michael DureauNon Exec Director24/11/2009
    David CarruthersNon Exec Director20/10/2008
    Julian DinsdaleChairman23/11/2007
    James PullarNon Exec Chairman24/11/200423/08/2005
    Colin AdamNon Exec Director06/07/199222/08/2005
    Barry BraithwaiteNon Exec Chairman24/11/200430/06/2005
    Sally PitkinNon Exec Director24/11/2004
    Jack HamiltonNon Exec Director24/11/2004

    Date of first appointment, title may have changed.