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Our website ranking of A40: rating 1
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Computershare Brisbane
Level 1, 200 Mary Street Brisbane QLD 4000
Tel : +61 (0)3 9415 4000 or 1300 850 505 (within Australia)
Fax : +61 7 3229 9860
RegistryWebsite RegistryEmail

Company details
ISIN: AU0000031270
Address: Level 3, 20 Parkland Rd Osborne Park WA 6017
Tel:  +61 (0) 420 582 887 Fax: +61 8 9388 8837

Date first listed: 05/12/2018

Sector: Materials
Activities: Mineral exploration and production

liquidation of the Company was terminated on 4 April 2024 and control of Alita has reverted to a newly appointed Board of Directors


Robert Michael Kirman, Robert Conry Brauer and Matthew Wayne Caddy are appointed Joint Liquidators


delisted from the commencement of trading on Thursday, 1 October 2020, pursuant to Listing rule 17.12.


we understand this company failed and is in administration and ASX removed it from listing on the grounds it had failed to lodge financial statements


The Deed Administrators have continued to maintain and preserve the assets of the Company during the Relevant Period. The Bald Hill Mine remains on care and maintenance, the Company continues to meet environmental obligations, keep the tenements in good standing and maintain the relevant insurance. Administrators and DoCA Proponent, have progressed the sale of the lithium stockpile during the Relevant Period, with completion expected within the next month. The Deed Administrators and DoCA proponent will continue to work towards completing the remaining conditions precedent of the DoCA, which includes the receipt of relief from the requirements of Section 606 of the Corporations Act and FIRB approval. On satisfaction of the relevant conditions precedent, the Deed Administrators expect to be able to complete the external administration within several weeks once the necessary approvals have been received.


The administrators sought relief from ASIC pursuant to section 340 of the Corporations Act 2001 from the financial reporting requirements of part 2M.3 of the Act. On 31 March 2020, ASIC granted relief such that Alita does not have comply with certain financial reporting obligations under Part 2M.3 of the Act, which includes the FY19 full-year financial and H1FY20 half-year results of the company during the deferral period.


An application was made to the Singapore High Court for the recognition of the Australian Court Order pursuant to the UNCITRAL Model Law on Cross-Border Insolvency. At a hearing conducted earlier today, the Singapore High Court has ordered, inter alia, that the Australian Court Order be recognised in Singapore pursuant to the UNCITRAL Model Law. Pursuant to such recognition, the Australian Court Order will be valid and binding under Singapore law.


The company provides a shareholder update in relation to the Section 444GA orders made. The court made orders on 6 March 2020 that the Deed Administrators are granted leave to transfer all of the existing shares of Alita to the proponent of the Deed of Company Arrangement. The Deed of Company Arrangement remains subject to outstanding conditions precedent, including the receipt of the FIRB Approval and relief from ASIC exempting the proponent of the Deed of Company Arrangement from the requirements of section 606 of the Corporations Act 2001 (Cth), each of which is yet to be received as at the date of this announcement. The Compulsory Transfer will only take place after all conditions precedent have been satisfied and upon proper execution in accordance with the terms of the Deed of Company Arrangement as well as the relevant rules and laws in Singapore and Australia.


At the Court's hearing in respect of the s 444GA application, orders were made by the Court, adjourning the hearing to 3:00pm (WST) on 6 March 2020. The adjournment was granted for no other reason than to allow the Court and counsel for certain objecting shareholders to review recent filings with the Court.


The company releases Shareholder information - DOCA FAQs.


The administrators provide the following: clarification of relationship between CHEL, the DOCA proponent and the company; investigations by SGX RegCo on complaints received; and FAQ dated 4 February 2020.


The Deed Administrators advise that the Final Hearing is scheduled for 2.15pm (AWST) on 4 March 2020.


No-Objection received from the SGX-ST for delisting from SGX.


The Deed Administrators have prepared an addendum to the Expert Report. Notwithstanding the Updated Analysis, the Deed Administrators maintain their opinion that the company's shares in a liquidation scenario have nil value. The final hearing of the Section 444GA Application remains listed for 2.15 pm on 4 March 2020.


As no further shareholders have entered an appearance and a timetable has already been established for shareholders to file and serve evidence and submissions, the Deed Administrators and the shareholders who are formally participating in the Court proceeding (as a result of entering an appearance by 4.00pm (AWST) on 6 February 2020) have agreed to vacate the Directions Hearing.


The deed administrators have prepared an FAQ document providing answers to questions that appear to be common to a number of shareholders.


The company provides a shareholder update on a letter from SRK Consulting's further comments in relation to their independent specialist report on the mineral assets of Alita. The letter was prepared as a result of a request from the Deed Administrators to SRK to prepare a summary letter describing the material differences between SRK's independent valuation Report as announced on 20 August 2018 and 2019 Report.


At the directions hearing today, the Court extended the deadline by which Alita shareholders who hold their shares through the Australian share register are to file an appearance from 29 January 2020 to 4.00pm (AWST) on 6 February 2020, to coincide with the equivalent deadline for those Alita shareholders who hold their shares through the Singapore share register. The Court also made orders programming the matter through to the final hearing at which the Court will determine the Section 444GA Application, ncluding relevantly for the exchange of evidence and submissions by the Deed Administrators and any parties opposing the Section 444GA Application.


Alita received a notice of compliance from Singapore Exchange Regulation requiring the Deed Administrators to hold an information session/meeting for shareholders of Alita who holds shares through the Singapore share register. The Deed Administrators have arranged for an information session on an informal basis to be broadcasted via videoconference which will also be held in Singapore such that shareholders of Alita can attend in person. The Singaporean Shareholders who cannot attend in person together with all other Shareholders, including those shareholders who hold their shares through the Australian share register can access the information session via videoconference. The information session will be held on Tuesday, 28 January 2020. The cut-off time for submission of attendance form will be on: Monday, 27 January 2020, 2.00 pm (SGT) / 2.00 pm (AWST). Registration time is from 10.30 am (SGT) / 10.30 am (AWST). Start time is at 11.00 am (SGT) / 11.00 am (AWST). The venue will be at Suntec Singapore Convention & Exhibition Centre Level 3, 1 Raffles Boulevard Singapore 039593.


Singapore Shareholders who wish to be heard in relation to the Section 444GA Application and at the final hearing are now required to enter an appearance by 4.00pm (Perth time) on 6 February 2020. The final hearing at which the court will determine whether to make the section 444GA orders is now scheduled to take place at 2.15pm (Perth time) on 4 March 2020. If the Court makes the section 444GA orders and the other conditions precedent of the DoCA are satisfied, it is expected that the transfer of shares and effectuation of the DoCA will take place on or around 9 March 2020. The Court is located at the David Malcolm Justice Centre, Level 11, 28 Barrack Street, Perth, Western Australia.


The company releases an Explanatory Statement and Expert Report and issues a response to the SGX Regco's notice of compliance.


The company issues a response to SGX queries.


The company provides an update to the timetable. It was estimated that the deed administrators will make available to shareholders the expert report and an explanatory statement by 3 January 2020. Drafts of the report and statement were lodged with ASIC on 23 December 2019. Comments on these are expected to be received from ASIC by 10 January 2020, and the deed administrators now expect to publish the expert report and explanatory statement on or around 10 January 2020 instead. There are no further changes to the timetable.


On 18 December 2019, the Deed Administrators lodged an originating process in the Supreme Court of Western Australia seeking, inter alia, section 444GA orders. Shareholders are entitled to be heard in relation to the Application, which includes the opportunity to object to the Application at the directions hearing on 30 January 2020. If you wish to be heard by the Court you must enter an appearance by 29 January 2020. The substantive hearing, at which the Court will determine whether to make the section 444GA orders will be as soon as possible after 7 February 2020. If the Court makes the section 444GA orders, then 100% of the Shares will be automatically transferred to the DOCA Proponent for no consideration. The Application is made on the basis that the Shares are of no value. The Deed Administrators will make available to shareholders the Expert Report and an explanatory statement describing the section 444GA process. It is expected that the Expert Report and Explanatory Statement will be available for download by 3 January 2020.


At the second meetings of creditors for Alita Resources and its subsidiaries, Lithco No.2 and Tawana Resources, creditors of each of the companies voted to approve the proposed DOCA received from China Hydrogen Energy and Liatam Mining. Richard Tucker and John Bumbak executed the DOCA and are now deed administrators of each company of the group. The DOCA will effectuate upon satisfaction of the conditions precedent of the DOCA.


The company releases the report by its administrators.


The Alita Resources Limited outstanding senior secured loan facility of US$32.5 million acquired by Galaxy in August 2019 was repaid in full on Friday November 29. Funds received will be used to repay Galaxy's corporate debt facility. Galaxy remains in a very strong financial position as it prepares for the acceleration of the Sal de Vida Project development phase.


Alita and certain of its subsidiaries have entered into a binding AUD$70 million loan facility agreement with China Hydrogen Energy Limited and related security arrangements. The funds available under the loan facility agrement will be applied by Alita to repay in full all amounts outstanding under the senior secured debt facility with its secured creditor, Galaxy Resources Limited. Following the repayment of the Galaxy Facility and the discharge of the related security, the Receivers and Managers will retire as receivers and managers of the relevant group companies. With effect from the Receivers and Managers' retirement, the Voluntary Administrators will remain in control of the group and its operations.


The company had on 27 September 2019 submitted an application to the SGX-ST to seek a further extension of time to comply with Catalist Rules 705(1), 707(2), 707(1) and 711A. The SGX-ST had on 17 October 2019 informed that it has no objection to granting the following time extensions: 6-month extension till 28 February 2020 to announce its unaudited financial results for FY2019 pursuant to Catalist Rule 705(1); 5-month extension till 31 March 2010 to hold the FY2019 annual general meeting pursuant to Catalist Rule 707(1); and 3-month extension till 28 February 2020 to issue the SR2019 pursuant to Catalist Rule 711A. These waivers are subject to waiver conditions.


The administrators have commenced a process to sell/recapitalise the group and are seeking urgent expressions of interest from interested parties. The transaction is likely to be executed via a DOCA.


On 29 August 2019, the company submitted to the Singapore Exchange Securities Trading Limited an application seeking extension of time to comply with the requirements of Rules 705(1), 707(1), 707(2) and 711A of the Catalist Rules. The company seeks the extension of time n light of the recent corporate developments, where additional time is required to reasonably ascertain and assess whether there is any potential impairment to the carrying value of the group's assets, the group's financial position and its effects on the group's sustainability practices and targets.


Martin Jones, Matthew Woods and Andrew Smith were appointed joint and several receivers and managers to the assets and undertakings of the Companies on 29 August 2019 by the security trustee, EQT Australia Pty Ltd pursuant to various Deeds of Security executed by the companies.


The company received a notice of default from the lender on 29 August 2019 as a result of the appointment of administrators on 28 August 2019. Following the event of default, the lender declared that all moneys owing under the facility including interest are immediately due and payable. The lender has also on 29 August 2019 appointed receivers and managers.


Richard Scott Tucker and John Allan Bumbak of KordaMentha were appointed as administrators of the company and also of the following subsidiaries. The appointments of the Administrators followed ongoing discussions between the company, the secured lenders and other key stakeholders.


GXY ahas reached an agreement with a consortium of lenders led by funds managed by Tribeca Investment Partners to acquire the senior secured loan facility provided to Alita Resources. Pursuant to a Sale and Purchase Agreement and a Transfer Certificate, dated 27 August 2019, the rights, title and interest of the Facility, with principal value of US$28.8 million, have been assigned and novated to Galaxy. The total amount assigned and paid, including all accrued interest, fees and costs was US$31.1 million.


The lenders have on 23 August 2019 extended the standstill period until 7pm (AEST) on 29 August 2019 to allow additional time to progress the discussions with various parties regarding the facility refinancing options and recapitalisation proposals.


The company is considering various refinancing options and recapitalisation proposals. Discussions with a range of stakeholders and parties continue and no definitive agreements have been entered into at this time other than the standstill with the company's secured lenders. The company also continues discussions with multiple parties regarding offtake arrangements for uncommitted production of spodumene from the Bald Hill Mine to diversify its customer base. Burwill announced on the Hong Kong Stock Exchange on 21 August 2019 that it has defaulted under its loan facility from Haiton International Financial Products and its business operations are mostly suspended. Burwill is a several guarantor of 50% of JBJLIL's obligations under the JBJLIL offtake agreements. The company is presently assessing the impact of Burwill's financial situation on the JBJLIL offtake agreements. As announced on 21 August 2019, the company is in discussions with JBJLIL regarding the restructuring of the offtake agreement.


The company and the lenders agreed on 20 August 2019 to extend the Standstill period until 7pm (AEST) on 23 August 2019 to allow additional time to progress discussions with various parties regarding the Facility refinancing options and recapitalisation proposals.


The company has completed a shipment to Jiangxi Bao Jiang Lithium Industrial Limited of approximately 10,500dmt of lithium concentrate on 19 August 2019. The price for this shipment was agreed at approximately 10% below the previously announced floor price of USD680/dmt (FOB 6%Li2O) with approximately 14% of the price deferred for approximately 6 months from the shipment date. The price was set by reference to the contractual formula applied to on recent lithium carbonate pricing. contractual formula and within the previously announced price range, also had an approximately 6 months deferred payment component of approximately 11% of the price. Both deferrals may be set-off against the balance of the prepayment from JBJLIL under the offtake contracts, if not paid by JBJLIL by their respective due dates. The company continues the discussions with JBJLIL regarding the restructuring of the offtake agreement as part of the broader company refinancing proposals.


The securities of Alita Resources Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of A40, pending the release of an announcement.


name changed from Alliance Mineral Assets Limited

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27/08/2023 22:03:54

Don\'t fall for the \"crystalising loss\" trick and hand your shares for peanuts. Now that DOCA is not going through it has to be returned to shareholders or be liquidated. Either way is worth at least $1.5 billion or over $1 per share.

27/08/2023 21:54:43

think it then became MM1

11/01/2023 17:02:47

No, this company is in administration, register is frozen.

09/01/2021 06:27:10

Can we still transfer the shares off market with the registry? 

08/01/2021 10:14:16
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    Directors' on-market share transactions (last 5)

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    17/06/2019Mark Turner500,000$0.163$81,250

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    Directors & Executives (current)
    Mahtani BhagwandasIndependent Director05/12/2018
    Arnold ChanNon Exec Director14/12/2018
    Eddy ChiuNon Exec Director05/12/2018

    Date of first appointment, title may have changed.

    Directors & Executives (former)
    Ron ChamberlainCFO18/03/201911/05/2020
    Geoff McNamaraNon Exec Chairman, Independent Director14/12/201817/12/2019
    Bob VassieIndependent Director14/12/201817/12/2019
    Joshua OngIndependent Director05/12/201817/12/2019
    Vicki XieNon Exec Director14/12/201817/12/2019
    Mark TurnerNon Exec Director14/12/201825/09/2019
    Mark CalderwoodNon Exec Director14/12/201825/09/2019
    Shaun MenezesFinance Director25/07/201818/03/2019
    Pauline GatelyExecutive Chairman08/06/201114/12/2018

    Date of first appointment, title may have changed.