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HENRY WALKER ELTIN GROUP LIMITED (HWE)

Delisted from ASX 30/08/2013

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Former (or subsequent) names

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Our website ranking of HWE: rating 1
(1 out of 5)
COMPANY WEBSITE:

 

REGISTRY:
Computershare, Level 3, 60 Carrington Street, Sydney NSW 2000
Tel : +61 2 8234 5000
Fax : +61 2 8235 8150
RegistryWebsite RegistryEmail

Company details

Address: Level 3, 13-15 Lyonpark Road, NORTH RYDE, NSW, AUSTRALIA, 2113
Tel:  (02) 9887 7800 Fax: (02) 9887 6352

Date first listed: 01/06/1980
Company Secretary: Ms Louise K Hicks
Sector: Capital Goods Industry Group: XNJ
Activities: Contract mining; civil engineering; land development; motor vehicle, truck, mining plant and agricultural machinery sales and service; and aircraft maintenance and spare parts sales, now in administration
Liquidators make a second distribution to shareholders of six cents a share. As we mention in our note of 4 April 2014 (see below) many of you sold your shares to deListed to crystallise your capital loss. As the company did not emerge from administration, we were not able to register the transfers and the proceeds are yours to bank and keep. In our opinion this distribution is assessable income if you previously claimed your loss, but you should seek professional advice. 02/12/2015
SPECIAL NOTE TO HWE SHAREHOLDERS: The administrators have made a distribution to shareholders, a somewhat unusual event. To our knowledge there has been no other distribution by administrators to shareholders of a listed or previously listed company in the past 20 years. Many of you sold your shares to deListed to crystallise your capital loss. Thank you to those who have offered the proceeds of the distribution to us. As the company did not emerge from administration, we were not able to register the transfers and the proceeds are yours to bank and keep. In our opinion this distribution is assessable income if you previously claimed your loss, but you should seek professional advice. 04/04/2014
delisted following non-payment of annual listing fees in respect of the year ending 30 June 201430/08/2013
we understand this company failed and has finally been delisted by ASX following non-payment of annual listing fees30/08/2013
The company has not paid its annual fees in respect of the year ending 30 June 2014 but are already suspended from official quotation. In accordance with listing rule 16.5, entities that pay their annual listing fees on or after 23 August 2013must pay by bank cheque only. Under listing rule 17.15, any entity that has not paid its annual listing fees as required by listing rule 16.5 by 5.00 pm EST on Thursday 29 August 2013 will be removed from the official list with effect from the close of trading on Thursday 29 August 2013.23/08/2013
The company has not paid its annual fees in respect of the year ending 30 June 2014 but are already suspended from official quotation. In accordance with listing rule 16.5, entities that pay their annual listing fees on or after 23 August 2013must pay by bank cheque only. Under listing rule 17.15, any entity that has not paid its annual listing fees as required by listing rule 16.5 by 5.00 pm EST on Thursday 29 August 2013 will be removed from the official list with effect from the close of trading on Thursday 29 August 2013.23/08/2013
deed administrators provide a market update - shares may still be of value notwithstanding the earlier issue of a loss declaration - if you are still a shareholder, you should await developments 21/12/2012
deed administrators provide a market update16/12/2009
administrators have paid 100 cents in the dollar on creditors claims admitted - a "significant" new claim is disputed and it is unlikely there will be further payments to creditors within the next 12 months17/09/2009
deed administrators provide a market update02/06/2009
deed administrators are still finalising a matter in relation to a creditor claim - this is subject to proceedings which will be heard soon07/11/2008
deed administrators confirm that creditors whose claims have been admitted, have now been paid in full - they have recently received a substantial claim that may involve litigation31/03/2008
the Deed Administrators have now paid a second dividend of 50c/$ distribution to admitted creditors in the Mining Pool Entities, bringing the total dividends to date to 100c/$ and paid a second dividend of 50c/$ distribution to admitted creditors in the Non Core Pool Entities, bringing the total dividend to date to 60c/$15/08/2007
a first and interim dividend at the rate of 50 cents in the dollar was declared on 20 September 2006 for each of the Mining Pool companies - it is anticipated that unsecured creditors of the Mining Pool companies will ultimately receive total distributions of 100 cents in the dollar on admitted claims20/09/2006
ASIC grants relief from financial reporting requirements and provides an extension of time to hold annual general meetings12/04/2006
ASIC has accepted an enforceable undertaking from Shareholder Advocacy Pty Ltd (SAPL) in relation to their prohibited use of information on company registers - SAPL had sent unsolicited letters, offering to lodge proof of debts with the companies, ION, Sons of Gwalia and Henry Walker Eltin - SAPL has agreed to cease sending offers to shareholders, lodge proof of debts for those persons who accepted SAPL's offer with the Administrator of the relevant companies and also refund to shareholders "a pro-rata amount of the fee paid by shareholders to SAPL" - sorry we don't know how much you will get back!16/03/2006
reports that the administrators have received some claims from shareholders asking to be treated as creditors - according to the administrators "none of these claims are in our view claims of any substance at this point in time" - this follows the declaration by the administrators (see note immediately below) that there will be no return to shareholders03/03/2006
reports that a meeting of creditors has voted to place HWE group companies under a deed of company arrangement that will see financial creditors paid in full, major credit creditors paid around 65 cents in the dollar and small creditors paid about 20 cents in the dollar03/03/2006
a loss declaration has been issued and the capital loss can therefore be claimed in the financial year the declaration is issued03/03/2006
administrators advise that the sale of the contract mining business to Leightons is now completed - the next stage of the administration involves the convening of creditors meetings in March, at which creditors will vote on a Deed of Company Arrangement01/02/2006
administrators announce they have executed a binding agreement with Leightons for the sale of HWE's contract mining business - while the sale is subject to a number of conditions, the administrators expect completion by mid-December 200501/12/2005
Leighton Contractors Pty Limited has entered into a Heads of Agreement with the Administrators of Henry Walker Eltin Group Limited (HWE), to purchase the Australian and New Zealand contract mining assets of the company for $215 million, subject to documentation and certain conditions including the approval of the Foreign Investment Review Board10/11/2005
administrators indicate that it appears certain there will be no return to shareholders - they intend to make an Administrator's Declaration under section 104-145(1) of the Income Tax Assessment Act 1997 (allowing shareholders to claim their capital loss), but will withhold the Declaration until the conclusion of the HWE Mining business sale process - we will carry the declaration here as soon as we are aware it has been issued - deListed will therefore no longer buy HWE shares25/10/2005
administrators refer to the recent court decision permitting a shareholder to lodge and have admitted a proof of debt for voting purposes at a meeting of creditors, notwithstanding his claim related to his acquisition of shares (this decision has been appealed by the way) - the administrators believe that any shareholders who consider they may have a provable claim in the administration of the HWE group will need to obtain their own legal advice25/10/2005
it is our understanding some shareholders have received a Notice for Lodgement of Proof of Claim against Henry Walker Eltin from Shareholder Advocacy Pty Ltd - this follows the finding by Justice Ray Finklestein in the Sons of Gwalia case that shareholders who purchased shares where they have been misled and deceived are to be treated equally with unsecured creditors (this finding by the way is not necessarily in the best interests of shareholders as a group) - we do not recommend that shareholders participate in the Shareholder Advocacy action and suggest that for the moment they observe proceedings (if they are mounted) from the sidelines06/10/2005
Louise Karen Hicks resigns as company secretary16/09/2005
directors Frazer Henry and Andrew Price resign13/09/2005
ASIC advises of relief from financial reporting requirements12/09/2005
creditors vote in favour of a resolution to adjourn the second meeting of creditors to a date to be determined by the Administrators which is no more than 60 days after 8 July 2005 (in the event that the Administrators form the view, that the period within which the adjourned meeting must be held should be longer, Court approval will be sought to adjourn the meeting to a date not more than 120 days after 8 July 2005) - this is the meeting at which creditors are considering whether or not to enter a Deed of Company Arrangement08/07/2005
New Zealand goldminer OceanaGold and the administrators announce the completion of arrangements for HWE's exit from the Fraser's Decline project at OceanaGold's Macraes gold field01/07/2005
administrator releases his report, informing creditors of the financial position of the various entities, the reasons for HWE's failure and recommending the company enter a Deed of Company Arrangement - this to be considered at a creditors meeting on 8 July 2005 - administrator believes it is unlikely there will be any return to shareholders - but it is "necessary to progress the sale process before the Administrators can form a final view on that matter"29/06/2005
Clough Limited (ASX:CLO) has completed the transaction with the Henry Walker Eltin Administrator to buy its Western Australian Civil construction business02/06/2005
administrators announce the commencement of a sale process in relation to HWE's mining contracting and services business19/05/2005
Clough Limited (ASX:CLO) yesterday executed a Heads of Agreement with the Henry Walker Eltin Administrator to buy part of its Western Australian civil construction business - the Parties are working towards finalising the acquisition within the next 10 days18/05/2005
administrators of Bridge Autos Pty Limited (a part of the Henry Walker Eltin Group of companies) today announced the sale of the company to listed automotive retail group AP Eagers Limited05/04/2005
administrators advise of the sale of HWE's Northern Territory-based civil engineering business to Macmahon Contractors Pty Limited, a subsidiary of Macmahon Holdings Limited - this is the latest in a series of satellite business disposals aiming to reduce trading risk and stabilise the operations of the group16/03/2005
administrators of Simon Engineering (Australia) Pty Limited announce the sale of Simon to Abigroup Asset Services Pty Limited, a subsidiary of Abigroup Limited, securing almost 1100 jobs - Simon is part of the Henry Walker Eltin Group of companies (no mention of the sale price!)03/03/2005
Ausdrill Limited reaches agreement to purchase HWE's 50% interest in African Mining Services (Ghana) Pty Limited (AMS) for $1.369m, to be satisfied by an issue of Ausdrill shares - a shareholder loan by HWE to AMS will also be repaid28/02/2005
Justice Hely of the Federal Court of Australia grants an extension of the period within which the Administrators of HWE must convene the second meeting of creditors - the meetings must now be convened by Monday 23 May 200516/02/2005
administrators have been seeking to maintain and preserve operations, determine the claims of creditors and employees and conduct assessments of the businesses carried on by HWE to determine the profitability or otherwise of various contracts15/02/2005
interim CEO, Robert Cleary, has resigned from the company effective immediately08/02/2005
at first meeting of creditors today, creditors elected representatives to various committees of creditors08/02/2005
company announces with regret that its Chairman and founder Neville Walker passed away suddenly earlier today (Mr Walker died when his car hit a tree at Weddell in rural Darwin)07/02/2005
the HWE board announces that Messrs John Gibbons, Jack Crumlin and Keiran Hutchison of Ernst & Young, who were appointed administrators of the Company on 31 January 2005, have resigned as administrators by notice in writing given to the Company - the board advises that it has today appointed Messrs Anthony McGrath, Scott Kershaw, Joseph Hayes and Shaun Fraser of McGrathNicol+Partners as voluntary administrators - peculiar to say the least for administrators to last just one day in the job (subsequent reports suggest Ernst & Young pulled out after realising they had a potential conflict of interest - was it unpaid bills for professional work?)01/02/2005
shares suspended from quotation31/01/2005
appoints John Gibbons, Jack Crumlin and Keiran Hutchison of Ernst & Young as voluntary administrators to its operations - this follows the decision by Glencore Finance AG not to proceed with the proposed recapitalisation announced on 23 December 2004, and difficulties experienced by the company in securing long-term funding arrangements - administration never augurs well for shareholders, but it is too early to speculate on the possible outcomes31/01/2005
name changed from Henry Walker Group Limited01/12/1999

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The Liquidators have actually already made a 3rd distribution of 2 cents a share on 21/12/2016

22/07/2017 22:30:08
if you hold shares in this company and have not received the the distribution you should contact the administrators - it may well be that you have changed address 23/04/2014 14:47:08
Can these shares be sold (as it mentions some people have already)? and if so how can we do this?10/04/2014 12:09:51

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    Directors' on-market share transactions (last 5)

     

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    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Neville WalkerNon Exec Chairman
    Peter HousdenCFO
    Anthony HaraldsonNon Exec Director
    Frazer HenryNon Exec Director
    Andrew Gidley-BairdNon Exec Director
    Andrew PriceExecutive Director
    Louise HicksGeneral Counsel
    Kate SheaGeneral Manager, Investor Relations

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION

    Date of first appointment, title may have changed.