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NOVARISE RENEWABLE RESOURCES INTERNATIONAL LIMITED (NOE)

Delisted from ASX 27/03/2018

Former (or subsequent) names

 

Shareholder links

Our website ranking of NOE: rating 3
(3 out of 5)
COMPANY WEBSITE:

 

REGISTRY:
Computershare, Level 5, 115 Grenfell Street, Adelaide SA 5000
Tel : +61 8 8236 2300 or 1300 556 161
Fax : +61 8 9473 2408 or 1300 534 987
RegistryWebsite RegistryEmail

Company details

ISIN: w
Address: Suite 5, Level 1, 325 Pitt Street, Sydney, NSW, AUSTRALIA, 2000
Tel:  02 92831338 Fax: 02 92833308

Date first listed: 29/04/2010
Company Secretary: Ms Winnie Chen (Joint Co. Secretary), Mr Xiaobin Zhuang (Joint Co. Secretary)
Sector: Materials Industry Group: XMJ
Activities: Integrated green producer of a range of polypropylene fibre-based products made from post consumer polypropylene waste materials
shareholders in this company should consider the possibility of crystallising a capital loss in 2017/18 by selling their worthless shares, which they can achieve online by entering transaction details here - background and rationale may be viewed here12/07/2018
delisted from the start of trading on Tuesday, 27 March 2018 pursuant to Listing rule 17.12.27/03/2018
we understand this company failed and ASX removed the company from listing as its securities have not been quoted for three years27/03/2018
The company submitted an application with ASX to request the agreement of ASX to a three months extension of the 3-year deadline for the automatic removal of NOE from the official list from 26 March 2018 to 26 June 2018. As at 15 March 2018, approximately 80% of the NOE Debt has been successfully assigned from the relevant lending banks to different asset management companies. Following Phase 1, FJSH and QZSH expect to enter into another debt restructuring agreement with the Company's chairman and managing director Mr Qingyue Su, and Shanxi Xinheng Property Development. Following completion of the Debt Restructure, the existing NOE Debt and relevant third party receivables of the Company will be set off against each other and the Company released from its obligations in respect of them. Therefore, those outstanding debts will be transferred out of the balance sheet of FJSH and QZSH. The company also provided an update on its turnaround plan.20/03/2018
The company's two China wholly owned subsidiaries, namely Fujian Sanhong Renewable Resources Technology and Quanzhou Sanhong Chemical Fibre have reached an "in-principle" agreement with Great Wall Glory Securities to restructure the corporate debts and borrowings of both FJSH and QZSH. Regarding its SCR, given the debt restructure and turnaround plan, the company and GRII have agreed to suspend negotiation of the SCR until further notice. Further, the Company is now working with its auditor to commence and complete its obligations to complete and release the Company's audited accounts in respect of the periods from 1 July2015 to 31 December 2015; 1 January to 31 December 2016 and 1 January to 31 December 2017. 30/11/2017
The company makes an announcement in response to two questions from ASX in relation to the repatriation of monies overseas and conversion of Chinese RMB.08/09/2017
The company provides an update of funding for Selective Capital Reduction.15/08/2017
On 6 July 2016, GRII, through its controlling shareholder, has provided an indicative terms sheet from an international Hong Kong Bank to fund the SCR loan. Sinc then, the board has endeavoured to work with GRII in order to assist, where it can, the final approval of the loan based on the term sheet to be granted to GRII to fund the SCR. The board proactively engaged with Mr. Qingyue Su on the progress of the loan from the HK Bank.11/07/2017
The company provides an update on funding for selective capital reduction. Mr Qingyue has on 18 April provided updated information that the Loan to fund the Capital Reduction, including additional information that GRII is required by the HK Bank to fulfil certain conditions before the Loan can be approved and disbursed for the Capital Reduction. Mr Qingyue Su advised that he anticipates that the Capital Reduction can be completed in the next four to six months. Mr Qingyue Su has again on 18 April provided his assurance that he will ensure that adequate funding will be made available immediately to Novarise so that it is able to meet all its outgoings and liabilities in view of the costs for the Capital Reduction, as well as other outgoings incurred. 21/04/2017
The company amends part of its announcement. "The Company has resolved and communicated to Mr. Qingyue Su and GRll that it must provide to the Company the Loan Letter within 2 weeks from the 1.0 February, 201.7 in relation to the SCR and the Company so as to enable the Company to determine the viability of the Loan to complete the SCR and consider its legal position to complete the SCR, in the interest of all shareholders. ".10/02/2017
The company will review its legal position in regards to the agreement and the funding for the capital reduction from GRII. The Company has resolved and communicated to Mr Qingyue Su and GRII that it must provide to the Company the Loan Letter within 2 weeks from the 10 February, 2016 in relation to the SCR and the Company.09/02/2017
t, Novarise will be privatised by way of a selective reduction of capital involving the cancellation of all shares in Novarise other than those held as at the relevant record date by GRll and its associates. In accordance with the Agreement and subject to the requisite approvals, the Exiting Shareholders will receive $0.16 cash per share for the cancellation of their shares in Novarise. It was also proposed by GRll that Novarise will be delisted from AsX if the Capital Reduction is implemented successfully. While it remains the view of the Company that it is in the best interest of all shareholders and the company to complete the Capital Reduction and privatisation of the Company, the Company will review its legal position in regards to the Agreement and the funding for the Capital Reduction from GRll. More specifically, the Company will review the viability and timeliness of the proposed funding from GRIT. The Company is also advised that its majority shareholder and CEO, Mr Qingyue Su, has reassured and reiterated his assurances of ongoing support to the Company so as to ensure that the Company continues to trade in accordance with the nomial course of its business. 05/10/2016
Under listing rule 17.6, any entity (if not already suspended) that had not paid its annual listing fees by close of business on Monday 22 August 2016 will have its securities suspended from official quotation before the commencement of trading on Tuesday 23 August 2016. The company has not paid its annual listing fees in respect of the year ending 30 June 2017 but the securities are already suspended from official quotation.23/08/2016
The company provides an update of funding for selective capital reduction.06/07/2016
The company lodges its Half Year Report ended 30 June 2015. 17/06/2016
The company lodges its Audited Financial Report 2014.17/06/2016
The directors have just finalised with its auditor the financial report in respect of the year ended 31 December 2014 and the directors are now confident that the release date of Appendix 4E and Appendix 4D will be next week, after the board has approved the financial report of the year ended 31 December 2014 and Appendix 4D in respect of six months financial information to 30 June 2015. The Company will also be in discussion with its auditor in regards to preparation of financial report of the year ended 31 December 2015.10/06/2016
The Company has received from its auditor the financial report in respect of the year ended 31 December 2014 and anticipates that the release dates of Appendix 4E and Appendix 4D will be by the end of next week, after the board has approved the financial report of the year ended 31 December 2014. The Company is also advised that its majority shareholder and CEO, Mr Qingyue Su, has reassured and reiterated his assurances of ongoing support to the Company so as to ensure that the Company continues to trade in accordance with the normal course of its business. 03/06/2016
The Company has finalised and resolved the relevant Appendix 4E for the financial year ending 31 December 2014 and Appendix 4D in respect of six months financial information to 30 June 2015. The Company now anticipates that the release dates of Appendix 4E and Appendix 4D will be by the end of next week, after its auditor has signed off. The Company is also advised that its majority shareholder and CEO, Mr Qingyue Su, has reassured and reiterated his assurances of ongoing support to the Company so as to ensure that the Company continues to trade in accordance with the normal course of its business. 27/05/2016
The Company has finalised and resolved the relevant Appendix 4E for the financial year ending 31 December 2014 and Appendix 4D in respect of six months financial information to 30 June 2015. The Company now anticipates that the release dates of Appendix 4E and Appendix 4D will be within this week. The Company is also advised that its majority shareholder and CEO, Mr Qingyue Su, has reassured and reiterated his assurances of ongoing support to the Company so as to ensure that the Company continues to trade in accordance with the normal course of its business. 23/05/2016
The Company's management worked with the Company's auditor through in January through to April 2016 to resolve the issues raised by the Company's auditor for the report for the year ended 31 December 2014 and the half-year financial report ended 30 June 2015. The Company is currently finalising its review of the draft the relevant Appendix 4E for the financial year ending 31 December, 2014 and Appendix 4D in respect of six months financial information to 30 June, 2015. The Company now anticipates that the release dates of Appendix 4E and Appendix 4D will be the first week of May. 27/04/2016
The company requests for extension of voluntary suspension of its securities. 24/03/2016
The company provides an update on its funding for the selective capital reduction. GRII has advised the company that it has received preliminary non-binding letter of loan offer from an international Hongkong bank to enable GRII to fund and complete the capital reduction.26/02/2016
The company requests for an extension of its voluntary suspension.24/02/2016
The company requests for extension of voluntary suspension. Following Novarise's instructions and communications with its auditor , the Company's auditor has commenced work to complete and release the relevant Appendix 4E for the financial year ending 31 December, 2014 and Appendix 4D in respect of six months financial information to 30 June, 2015. Novarise has progressed the work with its auditor and it now anticipates that the release dates of Appendix 4E and Appendix 4D will be from the second week of January. 17/12/2015
The company requests for extension of voluntary suspension.12/11/2015
The company is pleased to announce that it has entered into an implementation and funding agreement with its controlling shareholders, Great Rises International Investment Ltd, Great Rises New Resources Technology Co.,Ltd and Great Rises International Group Investment Ltd in relation to the proposed privatisation of Novarise.09/11/2015
The Company is in advanced stage of finalising the formal and binding implementation and funding agreement with GRII and anticipates the signing of this agreement to take place within 4 weeks. The company then requests for an extension of the voluntary suspension.13/10/2015
The company requests for extension of voluntary suspension17/09/2015
The company wishes to advise that they have noted an error in the document they announced earlier today as it carries a wrong announcement title; suggesting "Further extension for voluntary suspension 15/09/15". Instead it should have been headed "NOE Privatisation Proposal 15/09/15"15/09/2015
The company announces that it has received a preliminary, incomplete and non-binding proposal for the privatisation of Novarise from its controlling shareholders, Great Rises International Investment Ltd, Great Rises New Resources Technology Co., Ltd and Great Rises International Group Investment Ltd.15/09/2015
The company requests for an extension of its voluntary suspension. It wishes to advise that it will take another 8 weeks before it is able to complete the task of finalizing and lodging the annual financial report for the year ended 31 December 2014. 23/07/2015
Previously, the company applied for and was granted by ASX a suspension of the quotation of the ordinary securities of the Company owing to the fact that there were a number of material matters with respect to the audit of the Company's annual financial report for the year ended 31 December 2014. The company is continuing to work through these matters with the auditor.23/06/2015
On 28 April 2015, Novarise Renewable Resources International Ltd (the Company) applied for and was granted by ASX a suspension of the quotation of the ordinary securities of the Company. As noted in the request for suspension released on ASX on that date, the suspension was sought because Novarise's auditor had raised a number of material matters with respect to its audit of the Company's annual financial report for the year ended 31 December 2014 that the directors of the Company need to resolve with the auditor. Mr Su Qingyue, the CEO of the Company and the Company are continuing to work through these matters with the auditor21/05/2015
The securities of Novarise Renewable Resources International Limited (the "Company") will be suspended from quotation immediately, at the request of the Company, pending lodgement with ASX Limited of the Company's 2014 Annual Report. Security Code: NOE27/03/2015

ASX Announcements (courtesy of ASX)

 

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    Directors' on-market share transactions (last 5)

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    Purchases Sales

    DATEDIRECTORNATURENUMBERPRICEAMOUNT
    11/07/2014Qingyue SuOn market350,000$0.190$66,500
    23/02/2012Qingyue SuOn market790,000$0.186$147,045
    29/12/2011Qingyue SuOn market250,000$0.180$45,000
    08/12/2011Qingyue SuOn market150,000$0.180$27,000
    14/09/2011Qingyue SuOn market233,300$0.200$46,660

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Qingyue SuChairman, Managing Director06/08/2009
    Zhenwen ZhangCOO21/06/2008
    Xiaobin ZhuangDirector09/12/2009
    Fai-Peng ChenDirector06/08/2009
    Chung SoDirector09/12/2009
    Liandong TuDirector09/12/2009

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    John O'BrienDirector09/12/200918/03/2015

    Date of first appointment, title may have changed.