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ION LIMITED (ION)

Delisted from ASX 30/08/2013

SHARE PRICES

Former (or subsequent) names

 FROMTO
ION LIMITED22/01/2001
IRON CARBIDE AUSTRALIA LIMITED12/02/199722/01/2001
PACT RESOURCES NL17/07/198612/02/1997
PACT OIL AND MINING NL17/07/1986

Shareholder links

 

REGISTRY:
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

ISIN: w
Address: c/o McGrath Nicol and Partners, Level 8, 60 City Road, Southbank, VIC, AUSTRALIA, 3006
Tel:  (03) 9038 3133 Fax: (03) 8416 5996

Date first listed: 05/12/1985
Company Secretary: Gavin Smith
Sector: Automobile & Components Industry Group: XDJ
Activities: Company is currently subject to a deed of company arrangement
a final distribution to creditors is paid around this time14/12/2016
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 fees29/08/2013
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
a fifth interim dividend payable to creditors is to be declared on 15 February 201325/01/2013
a number of legally represented shareholder claimants have issued proceedings appealing the Deed Administrators' determination of their respective claims - the Deed Administrators consider they are now in a position to proceed to finalise the adjudication of outstanding shareholder claims - a fourth interim distribution at the rate of 2 cents in the dollar is now declared08/06/2012
all creditors are notified a 4th dividend will be declared on 25 May 201227/04/2012
The Deed Administrators will update creditors in due course as to the likely timing of a further interim distribution once they are in a position to do so25/02/2012
The Deed Administrators continue to liaise with the Australian Taxation Office in respect of a refund owing to the ION DOCA Group. Other than the legal proceedings referred to above and the adjudication of the outstanding shareholder claims, this is presently the only substantive matter remaining for the Deed Administrators.25/02/2012
a third interim distribution at the rate of 5 cents in the dollar has been declared20/12/2011
the Deed Administrators delayed the payment of the third interim distribution pending the outcome of a legal issue. The Deed Administrators have now filed an Application with the Federal Court (see note below) seeking the Court's directions in regard to the distribution. The purpose of the application is to facilitate a further distribution being made as soon as possible to relevant creditors under the ION deeds of company arrangement. The Application is listed for hearing on 20 December 201109/12/2011
the Deed Administrators apply to the court for a change in the basis of making distributions under the DOCA08/12/2011
the Deed Administrators have delayed the payment of the third distribution pending the outcome of a legal issue which is due to be heard on 29 November 2011. The Deed Administrators will issue a further update post hearing - Deed Administrators advise creditors that Colin Nicol has resigned as a Deed Administrator - Keith Crawford has been appointed as a Deed Administrator of the ION DOCA Group entities in Mr Nicol's place23/11/2011
the Deed Administrators of the ION DOCA Group notify all creditors of the ION DOCA Group that a third interim dividend is to be declared on 14 November 2011 - Creditors who have not done so already, are required to lodge a proof of debt or claim with the Deed Administrators on or before 11 November 201128/10/2011
a second interim distribution at the rate of 3 cents in the dollar is declared for the benefit of all creditors of the ION DOCA Group who lodged their proofs of debt or claim with the Deed Administrators on or before the Deadline and whose debts or claims are already admitted or are subsequently admitted - The second interim distribution will be paid as follows: a) by 21 September 2011 for those Second Distribution Creditors whose debts or claims are adjudicated and admitted by that date; and b) within 7 days of the date of admission for those Second Distribution Creditors whose debts or claims are not adjudicated and admitted by 21 September 2011, but are subsequently admitted by the Deed Administrators09/09/2011
shareholders who have not already lodged a proof of debt and wish to do so may still lodge a claim and should contact the Deed Administrators' Office on ionshareholder@mcgrathnicol.com or (03) 9038 3133 to obtain the necessary documentation. Claims received after 2 September 2011 may not be eligible to participate in the first and second distributions - the Deed Administrators will shortly be declaring a second interim distribution of 3 cents in the dollar for all creditors in the ION DOCA Group18/08/2011
the Deed Administrators of the ION DOCA Group notify all creditors of the ION DOCA Group that a second interim dividend is to be declared on 5 September 2011. Creditors who have not done so already, are required to lodge a proof of debt or claim with the Deed Administrators on or before 2 September 2011 to participate in the interim distribution. If they do not, they will be excluded from the benefit of the interim dividend18/08/2011
a first interim distribution at the rate of 45 cents in the dollar is declared for the benefit of all creditors of the ION DOCA Group who lodged their proofs of debt or claim with the Deed Administrators on or before the Deadline (7 Jan 2011) and whose debts or claims are already admitted or are subsequently admitted - the first interim distribution will be paid as follows: (a) on 28 January 2011 for those First Distribution Creditors whose debts or claims are adjudicated and admitted by that date; and (b) for those First Distribution Creditors whose debts or claims are not adjudicated and admitted by 28 January 2011, but are subsequently admitted by the Deed Administrators, payment will be made within 7 days after the date of admission (admitted trade creditors, financiers and shareholders with Compromised Claims will be paid their first interim distribution on 28 January 2011 - shareholders with claims lodged by the Deadline that are in the process of being adjudicated as at 28 January 2011, will receive payment of the 45 cent first interim distribution as and when their claims are admitted)21/01/2011
the Deed Administrators of the ION DOCA Group notify all creditors of the ION DOCA Group that a first interim dividend is to be declared on 21 January 2011. Creditors who have not done so already, are required to lodge a proof of debt or claim with the Deed Administrators on or before 7 January 2011 to participate in the interim distribution14/12/2010
to date, the Deed Administrators have received in excess of 3,000 proofs of debt from current and former shareholders of ION - an updated Report at www.ionlimited.com identifies conduct of ION which, in the Deed Administrators' view, gives rise to potential claims by current and former shareholders against ION - (former shareholders may include those who have sold their shares subsequently to deListed) - indeed all ION shareholders past and present should view the report to ascertain whether they should lodge a proof of debt or not21/10/2010
on 20 October 2010 publication will occur via ION's website at www.ionlimited.com of an updated Report which will contain information concerning the results of the Deed Administrators' investigations and the process by which shareholders can lodge new or amended proofs of debt - the Deed Administrators will be sending notices to the following classes of persons, notifying them of their potential right to lodge a proof of debt or vary a proof of debt previously lodged by them (as the case may be) and the procedure for doing so: - all shareholders who purchased ION shares on or after 10 September 2004 and have not yet lodged a proof of debt; and - current and former shareholders of ION who to date have lodged proofs of debt. In the case of shareholders who have already lodged a proof of debt and who have indicated in that proof of debt that they are represented by Slater & Gordon or DC Legal (formerly Dennis & Co Solicitors), those notices will be sent directly to their nominated legal representative14/10/2010
the Deed Administrators have now filed an application with the Federal Court of Australia seeking directions concerning the publication of their updated Report to Creditors and the notification of potential claimants of their right to lodge new or amended proofs of debt. The application is listed for hearing on 17 August 2010. Once the application is heard and relevant Court orders are made, the Deed Administrators will be able to proceed with the publication of their updated Report to Creditors and to set a deadline for the filing of any further or amended proofs of debt by shareholders - until the quantum of admitted claims by shareholders is ascertained, the Deed Administrators are unable to make a distribution to creditors. However, the Deed Administrators anticipate the timing of an interim distribution to creditors to be in the last quarter of the 2010 calendar year subject to the process concerning shareholder claims proceeding in the manner currently proposed by the Deed Administrators30/07/2010
administrator provides a further update on the status of the administration and the progress made in dealing with shareholder claims - processing and investigation of claims received from shareholders is complete and the findings of fact arising from these investigations are detailed in a Report to Creditors. This report has been reviewed by Senior Counsel and is now substantially complete. Accordingly, the Deed Administrators will be in a position shortly to make application to the Court seeking directions in relation to a number of issues - until the quantum of admitted claims by shareholders is ascertained, the Deed Administrators are unable to make a distribution to creditors30/04/2010
deed administrators provide an update - in relation to shareholder claims the Deed Administrators' say their findings of fact will form the basis of their determination of shareholder proofs of debt, and will be released in the form of a Report to Creditors - this report has been drafted and is currently being reviewed by Senior Counsel23/12/2009
deed administrators provide an update - they intend to make application to the Court seeking directions in relation to a number of issues30/09/2009
deed administrators provide an update on the status of the administration and the progress made in dealing with shareholder claims -30/06/2009
the Deed Administrators consider that they are unable to make a distribution to creditors at the present time given the uncertainty of the quantum of shareholder claimants that will ultimately be admitted as creditors20/03/2009
Deed Administrators report that the ION Consolidated Group's activities for the 12 months ended 31 December 2008 recorded a net cash inflow of $20 million resulting in cash on hand of $344 million - interest receipts for the period totalled almost $25 million - there are still a number of issues to be resolved with regard to shareholder claims20/03/2009
in a 112 page report, the Corporations and Markets Advisory Committee (CAMAC) has advised the government that the High Court's decision in the Sons of Gwalia case (which ranks the claims of aggrieved shareholders alongside those of unsecured creditors of a failed company) should remain as a matter of policy01/02/2009
administrators report that "the shareholder investigation is currently being finalized and we anticipate that a detailed creditor's update encompassing the results of the shareholder investigation will be released in due course"07/01/2009
the Deed Administrators report that they have received more than 3,200 proofs of debt from shareholders, totalling approximately $122 million - the Deed Administrators are presently scheduling interviews with the former directors of ION and those interviews are expected to occur in late May and June 2008 - most summonses in respect of the former directors and officers of ION (as to whether successful claims may be brought against them) have been adjourned until 31 July 2008 - the Deed Administrators consider that they are unable to make a distribution to creditors at the present time given the present uncertainty of the quantum of shareholder claimants that will ultimately be admitted as creditors06/05/2008
there is an ongoing investigation into the shareholder claims as mentioned in the last update03/04/2008
administrators provide an update - the North Plympton factory plant and equipment and the land and buildings have been sold - the liquidation of ION NZ has been completed pending finalisation of taxation matters - to date the Deed Administrators have received more than 3,200 proofs of debt from shareholders, totalling approximately $122 million (this is a complex and time consuming exercise) and administrators may need to approach the Court in due course for guidance on the matters of disclosure obligations, causation and the quantification of shareholders losses - most summonses in respect of the former directors and officers of ION have been adjourned for a period of 6 months21/09/2007
the company releases its Preliminary Final Report13/09/2007
if you purchased shares in ION Limited between 20 October 2003 and 7 December 2004 and wish to register for the action (involving shareholders seeking to claim as creditors in the company's administration), please contact Slater & Gordon on 1800 555 77721/08/2007
deed administrators advise of the sale of the Kilkenny land & building in January 2007 and the Kilkenny plant & equipment in February 2007, the resolution of ION Energy Services' vendor note dispute in January 2007, the declaration of a NZD 25 million liquidation dividend from ION New Zealand to the ION DOCA Group and the public examination of directors and senior management of the ION Group during November and December 2006 and February 2007 (the information gained on oath through the public examination process is being evaluated to determine whether it is in the interests of creditors to bring claims against directors) - the Deed Administrators are also trying to determine shareholder claimants (that will ultimately be admitted as creditors) and report that this will take some time to complete and may involve running a test case or cases - this follows the court decision in the Sons of Gwalia case, see note of 31/01/2007 below15/03/2007
in relation to the High Court's decision (see note immediately below), the Deed Administrators will now proceed to determine the shareholder proofs according to law as confirmed by the High Court - to date, the Deed Administrators have received in excess of 3,000 proofs of debt lodged by shareholders of ION alleging that various conduct of ION was misleading or deceptive conduct or in breach of continuous disclosure obligations01/02/2007
the High Court has ruled today that a person who buys shares in a company in reliance upon misleading or deceptive information from the company, or is misled as to the company's worth by its failure to make disclosures required by law, may have a claim for damages against the company which ranks equally with claims of other creditors - a Sons of Gwalia shareholder, Luka Margaretic lost $26,288 of his retirement savings after investing in the company 11 days before it went bust in August 2004 - Mr Margaretic claimed Sons of Gwalia had failed to notify the Australian Stock Exchange that its gold reserves were insufficient to meet its sale contracts and that it could not continue as a going concern - he said he was the victim of misleading and deceptive conduct in contravention of the Trade Practices Act, the Corporations Act and the Australian Securities and Investments Commission Act31/01/2007
deed administrators confirm summonses have been issued for the public examination of directors and senior management of the ION Group commencing 27 November 2006 - they have formed the view that there is sufficient evidence to warrant further investigation into whether successful claims may be brought - these are the people involved: Michael Robin Beer (Director), Ian Robertson Cootes (Director), Roger Baden Flynn (Director), Thomas George Klinger (Director), Malcolm John McComas (Director), George John Pizzey (Director), Graeme Lester Salthouse (Director), Colin John Peters (Director), Kees Haverkamp (Manager - Strategic Projects), John Mlinarevic (Group Purchasing Manager), Gavin Smith (Chief Financial Officer - ION Limited), Barry Clark (Chief Executive Officer - ION Automotive Group), Edward Winfield (Financial Controller - ION Automotive Group), John Harley (Plant Manager - Wingfield), Frank Woolford (Plant Manager - Wingfield), Michael Morrissey (Plant Manager - Wingfield), Rick Nagul (Chief Financial Officer - ION Limited)03/11/2006
deed administrators state (on the issue of whether shareholders with claims for misleading and deceptive conduct can rank as unsecured creditors) that "given that the High Court decided to expedite the hearing of the appeal, it might reasonably be expected that the High Court will deliver its judgment in 2006"03/11/2006
this month liquidators estimate there will be a NZD 22 million liquidation dividend from ION New Zealand to the ION DOCA Group30/09/2006
the High Court has reserved its decision (on the issue of whether shareholders with claims for misleading and deceptive conduct can rank as unsecured creditors) - IMF (Australia) Limited say it is difficult to predict when it will come down; it may be later this year but could be early next year06/09/2006
administrators announce that an agreement has been executed for the sale of the Castalloy business to a subsidiary of US domiciled Harley-Davidson Inc29/08/2006
the Wingfield plant & equipment is sold this month, as is ION Energy Services' Spotswood property31/07/2006
a Liquidator is appointed to ION NZ, a wholly owned subsidiary of ION DOCA Group30/06/2006
High Court grants special leave (relating to the Sons of Gwalia question of whether shareholders with a claim can rank as creditors) and orders that the hearing of the appeal be listed for 7 and 8 August 2006, to be heard in Adelaide - the ION Deed Administrators say "given that the High Court decided to expedite hearing of the appeal, it might reasonably be expected that the High Court will deliver its judgment within a few months after the hearing"16/06/2006
it is our understanding the High Court will hear, on 16 June 2006, a special leave application relating to the Sons of Gwalia question of whether shareholders with a claim can rank as creditors25/05/2006
the Wingfield land & building is sold this month30/04/2006
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
in an update for creditors, administrators advise of two particularly significant new events, the first being the completion of the sale of ION Transmissions, and the second the handing down of judgment by the Full Court of the Federal Court in the Sons of Gwalia case - the SGW case, if it stands, essentially means that claims made by shareholders who acquired their shares in ION on-market alleging misleading conduct or non-disclosure by ION, should be treated on the same basis as the claims of other unsecured creditors - this of course affects possible creditor distributions - legal advice is being sought and creditors will be notified when administrators have formed a view - it should be noted that it is likely the SGW case will be appealed and that whole process could take a year or so15/03/2006
the ION deed administrators confirm that unless and until such time as the High Court makes a different finding (in the Sons of Gwalia case), they are bound to apply the Full Court's reasoning in that proceeding in their administration of the ION DOCA - this means that claims made by shareholders who acquired their shares in ION on-market, alleging misleading conduct or non-disclosure by the company, should be treated on the same basis as the claims of other unsecured creditors - to date approximately 3000 proofs of debt, totalling in excess of $100 million, have been lodged by shareholders of ION - given the legal issues involved, the Deed Administrators are presently considering the issues in conjunction with their legal advisers08/03/2006
the company has completed the sale of its Albury based automotive transmission manufacturing facility and related intellectual property assets to Drivetrain Systems International Pty Ltd ("DSI") - the Administration trading period and subsequent sale of these assets is expected to contribute at least $70 million for creditors of the ION Group24/02/2006
ION Automotive Systems Pty Ltd has executed a contract to sell its Albury based automotive transmission manufacturing facility and related intellectual property assets to Drivetrain Systems International Pty Ltd - after realisation of trading assets and liabilities excluded from the sale, the combined sale and trading cash outcome of the business to creditors is expected to exceed $70 million13/02/2006
deed administrators provide a comprehensive update of the administration - to date some 2,500 proofs of debt have been received from shareholders totalling approximately $113 million - (there is still considerable uncertainty with respect to these claims as in a recent court case the Justice disagreed with a previous decision, believing the claims of transferee shareholders for damages in respect of misleading and deceptive conduct are postponed under section 563A of the Corporations Act to the claims of external creditors)02/12/2005
it is our understanding shareholders have also been approached by Dennis & Company seeking a sum of $550.00 to represent their interests and a further Solicitor & Client fee should any funds be recovered - as we say in our note of 31/8/2005 below, deListed is opposed in principle to lawyers seeking an advance fee from small shareholders to fund actions - we believe initial funding should come from the large shareholders who have the resources and expertise to better assess the chances of success - we recommend that shareholders (including those who have sold their shares to deListed) do not participate in this action at this juncture but instead obtain an Information Pack from IMF Australia at www.imf.com.au21/11/2005
Deed Administrators advise that the sale of ION Transmissions is delayed until 30 November 2005 to give the purchaser more time to finalise its capital structure30/10/2005
administrators advise that the company's plant have today announced that 200 staff redundancies will occur at the Albury plant over the next two weeks - the redundancies will involve all aspects of the plant's operations including manufacturing workers as well as administrative and other staff07/10/2005
deed administrators provide an update including results of operations, sale of businesses and their investigations - following the recent judgement in the Sons of Gwalia case (see that company on this site) the administrators are monitoring developments, including the appeal to the High Court, and will advise further regarding the position of shareholders as creditors19/09/2005
it is our understanding a company by the name of Shareholder Advocacy P/L is seeking an advance fee of $440 to fund a representative or class action - shareholders who have sold their shares subsequent to the company going into administration are not, in our view, precluded from joining this action if they wish - deListed is opposed in principle to lawyers seeking an advance fee from small shareholders to fund actions of this sort - we believe initial funding should come from the large shareholders who have the resources and expertise to better assess the chances of success - we recommend that shareholders (including those who have sold their shares to deListed) do not participate in this action at this juncture but instead obtain an Information Pack from IMF Australia at www.imf.com.au31/08/2005
deed administrators advise that the long running legal case between the EPA and ION Group has been resolved - Holden part production is to be phased out of the North Plympton plant over the next 6 to 8 months - Harley-Davidson representatives have confirmed that they want the North Plympton and Kilkenny plants to continue to supply them - the process of selling the business is likely to recommence in the latter half of September with a number of parties continuing to express interest in the business - transition to a new owner is targeted for the 1st quarter of 200630/08/2005
company has executed a contract to sell its automotive transmission manufacturing facility located in Albury, NSW to Powertrain Products International Pty Ltd (PPI) - the "headline" purchase price for this transaction is AUD$48 million adjusted for warranties provided by the vendor and working capital assets and employee entitlements transferring to PPI26/08/2005
the Group's automotive wheel plant in Warsaw Kentucky is sold to ATS Beteiligungs GmbH for US$28 million plus working capital assets net of closing adjustments as at 30 June 200506/08/2005
directors John Pizzey, Roger Flynn and Tom Klinger resign03/08/2005
Deed Administrators provide an update of trading results, sale of businesses, proofs of debt and the investigation process08/07/2005
IMF (Australia) Ltd will fund claims by persons who held an interest in shares in Ion as at 7 December 2004 (the date that voluntary administrators were appointed to Ion) - the claims will seek recovery of loss and damage sustained by shareholders as a result of Ion's collapse, on the basis that between 20 October 2003 and 7 December 2004 Ion engaged in misleading or deceptive conduct and breached the continuous disclosure provisions of the Corporations Act by failing to keep the market fully informed - IMF expect to pursue claims, in the first instance, by way of proofs of debt under the Deed of Company Arrangement, and, if necessary, by subsequent court proceedings24/06/2005
a loss declaration has been issued and the capital loss can therefore be claimed in the financial year the declaration is issued17/06/2005
administrators lodge Deed of Company Arrangement with ASX06/06/2005
company executes a deed of company arrangement27/05/2005
reports that ASIC has obtained a court order to secure a full copy of the administrators' interim report although administrators confirm there was no evidence of trading while insolvent09/05/2005
administrator provides his view of the position of shareholders who are claiming to be creditors by virtue of their shareholding and seeking admission to vote at the second creditors' meeting29/04/2005
administrator releases a comprehensive report for creditors29/04/2005
provides notice of meeting of creditors to be held on 6 May 200528/04/2005
we have been asked for our opinion of a proposed class action against ION its directors, officers and/or auditors - to our knowledge the only successful class action of any size was the GIO action - shareholders were not asked for an upfront fee in that case - we also have reservations about the statement "Unless you notify us of your interest you may not be included in the eventual result and you might very well miss out on the receipt of any entitlement" - it is our understanding that all shareholders are given an opportunity to opt in or out of the action at some time during the proceedings - we suggest shareholders think carefully before committing to the $550 fee and seek independent professional advice (while acknowledging this is a special area of the law and that advice will be hard to come by!)06/04/2005
administrators provide an update of their administration for creditors05/04/2005
administrators advise that the efforts to sell Castalloy's Wingfield plant as a going concern are unlikely to succeed and an orderly wind down of the facility is being implemented immediately as a result - the company will prepare for the closure of this plant with effect from 31 July 200530/03/2005
the convening period for the second meetings of creditors has been extended to 29 April 2005, for the meetings to be held by 6 May 2005 - the administrators apparently expect to have sold the various operating businesses by the middle of April22/03/2005
Malcolm John McComas resigns as a director14/02/2005
administrators advise creditors that the company's growth strategy greatly exceeded its management and financial capacity, that management failed to deploy appropriate resources to improve the operations in SA which were "significantly unprofitable" - the administrators have focused on shoring up many areas of financial and operational weakness and "commencing the work required to improve performance at the SA plants" - at the second meeting of creditors Administrators should be able to recommend whether a Deed of Company Arrangement or liquidation are in the best interests of creditors - by and large shareholders can now only observe from the sidelines31/01/2005
sale of ION Energy Services occurs25/01/2005
reports that the administrators are to accelerate the sale of the group's assets as they seek to recoup about $550 million owed to creditors - it is believed administrators McGrath Nicol will appoint an investment bank as early as this week to oversee the sale of Ion's assets in Adelaide, Albury, New Zealand and the United States10/01/2005
the administrator is reported to have indicated that it was unlikely creditors would recover all the money owed to them - that almost certainly means shareholders are unlikely to get anything10/01/2005
Court grants an extension of the period within which the Administrators of the ION group of companies must convene the second meetings of creditors - the meetings must now be convened by 1 April 2005 and held by 8 April 200523/12/2004
administrator advises that a contract for the sale of the Ion Energy Services division comprising the Cootes and Liquip businesses has been executed - the headline price remained at $191 million or approximately $151 million net of lease liabilities - the Administrators are also taking steps to prepare the Automotive business for sale22/12/2004
it is still too early to speculate on the outcomes but external administration rarely augurs well for shareholders18/12/2004
administrators advise they will be pursuing sale of the business operations as going concerns and also considering the financial restructure of the group by way of a capital infusion17/12/2004
first statutory meeting of creditors13/12/2004
shares suspended from quotation following the appointment of administrators (McGrathNicol + Partners) - it appears that a consortium of five banks withdrew a $440 million line of credit that Ion secured only three months earlier - the five banks are owed about $330 million - National Australia Bank is exposed to about $135 million - the other banks are Commonwealth, Westpac, BNP Paribas and Japan's Mizuho07/12/2004
name changed from Iron Carbide Australia Limited22/01/2001
we understand that on or about this date the company consolidated its shares 1 for 1031/01/1997

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Loading comments....  Most recent comments
The court of vitoria  all are do not know  about shareholder Why same one share can cash best more  1 dollar a share  and same  cash only less than 50 cents a shrae.Why?Why?When go to court where is our dirdector all are dead ?

14/07/2015 13:16:44
dirty thieving bastards04/03/2015 06:02:17
When will we be compensated on the misleading act which has caused us bankruptcy and to lose our homes and life that we suffered 03/06/2014 01:03:59
Found the former directors and executives -

Michael Robin Beer    Director
Ian Robertson Cootes    Director
Roger Baden Flynn    Director
Thomas George Klinger    Director
Malcolm John McComas    Director
George John Pizzey    Director
Graeme Lester Salthouse    Director
Colin John Peters    Director
Kees Haverkamp        Manager - Strategic Projects
John Mlinarevic        Group Purchasing Manager
Gavin Paul Smith    Chief Financial Officer - ION Limited
Barry Clark        Chief Executive Officer - ION Automotive Group
Edward Winfield        Financial Controller - ION Automotive Group
John Harley        Plant Manager - Wingfield
Frank Woolford        Plant Manager - Wingfield
Michael Morrissey    Plant Manager - Wingfield
Rick Nagul        Chief Financial Officer - ION Limited

26/11/2013 12:14:33
Where is the list of former directors and executives for this sunken ship?
26/11/2013 11:36:38
what is happening with the claim on ion made by imf?09/11/2013 12:30:29

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    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    McGrathNicolAdministrator

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION

    Date of first appointment, title may have changed.