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ARRIUM LIMITED (ASX.ARI)

ASX Announcements (courtesy of ASX)

201220132014201520162017

ASX, Legal & CGT Status

SHARE PRICES

(updated at weekends)
Former (or subsequent) names
CompanyFROMTO
A.C.N. 004 410 833 LIMITED15/08/2017
ARRIUM LIMITED02/07/201215/08/2017
ONESTEEL LIMITED02/07/2012
Shareholder links
Our website ranking of ARI: rating 5
(5 out of 5)
COMPANY WEBSITE:

 

REGISTRY:
Boardroom Pty Ltd
Level 8, 210 George Street, Sydney NSW 2000
Tel : +61 2 9290 9600 or 1300 737 760
Fax : +61 2 9279 0664 or 1300 653 459
RegistryWebsite RegistryEmail

Company details
Address: Level 8 205 Pacific Highway St Leonards NSW 2065
Tel:  (02) 9239 6666 Fax: (02) 9251 3042

Date first listed: 23/10/2000

Sector: Materials
Industry Group: XMJ
Activities: Mining and supply of steel making raw materials to steel mills operated in Australia and overseas; recycling of ferrous and non-ferrous scrap and the manufacture and distribution of steel long products

Cassandra Mathews, Bryan Webster, Mark Mentha, Martin Madden appointed liquidators

19/06/2019

a loss declaration has been issued and the capital loss can therefore be claimed in the financial year the declaration is issued - in this case 2017/18

15/12/2017

name changed to A.C.N. 004 410 833 Limited

15/08/2017

The committee of creditors today approved the sale of the steel and mining group to the GFG Alliance. The sale also required approvals for the transition of workers' compensation coverage to the GFG Alliance and finalisation of accounting restructuring steps which are expected before 31 August. KordaMentha would then move to a formal proof of debt process, including adjudication of debts, and determining returns to creditors whilst continuing its statutory duty to investigate the affairs of the company.

13/07/2017

The deed administrators has today signed a binding agreement for the sale of the Arrium Manufacturing, Distribution and Recycling, Whyalla Steelworks and Mining divisions, to GFG Alliance. The sale is subject to approval by the Arrium Committee of Creditors and the Foreign Investment Review Board, which is expected to decide soon. Completion of the sale is anticipated to occur in late August 2017.

05/07/2017

Morgan Stanley and the Deed Administrators are continuing advanced negotiations. At this stage, the Deed Administrators are unable to provide further details regarding the sale of Arrium Australia.

03/07/2017

KordaMentha Restructuring today announced it had chosen a Korean consortium as the preferred bidder for the Arrium group of companies. The consortium is headed by Newlake Alliance Management and JB Asset Management and is supported by the POSCO company. KordaMentha, the Deed Administrators for Arrium, and investment bank Morgan Stanley, which managed the sale process, will work with the consortium to finalise the sale contract as soon as possible. The final sale is subject to approval by the Committee of Creditors and the Foreign Investment Review Board.

15/06/2017

In conjunction with Morgan Stanley, the Administrators have shortlisted two bidders to progress to the next stage of the process. Both bidders are seeking to purchase the Arrium Australia business in one-line. The Administrators are aiming to have the process finalised by 30 June 2017.

30/03/2017

KordaMentha today announces it has completed the sale of entities comprising the Arrium Mining Consumables Division (Moly-Cop) to funds managed by American Industrial Partners on terms consistent with the Share Sale Agreement signed on 4 November 2016.

04/01/2017

The sale and recapitalisation process is progressing. The bidders involved in stage 2 of the process are undertaking detailed due diligence. The sale process will resume in January 2017. The administrators are working towards completing the sale by 31 March 2017. Also, a sale agreement for the Moly-Cop business has been signed with American Industrial Partners. Completion of the sale is expected to occur in January 2017.

20/12/2016

On 30 November 2016, ASIC revoked and reissued deferral relief with respect to the company's obligations in relation to a financial year ending 30 June, or half year ending 31 December, during the deferral period to 7 October 7 2018. The previously granted extension to 7 December 2018 to hold the company's AGM remains unchanged.

01/12/2016

The Second Meetings of Creditors for the 94 Arrium Group Companies in Voluntary Administration were held concurrently today. The majority of creditors of the Arrium Group Companies voted in favour of the Administrators entering into the proposed Deeds of Company Arrangement. The DOCAs have subsequently been executed and the Voluntary Administrators, Mark Mentha, Martin Madden, Cassandra Mathews and Bryan Webster have been appointed as Deed Administrators of the Arrium Group Companies effective today.

04/11/2016

KordaMentha today announces that it has executed an agreement with funds advised by American Industrial Partners for the sale of the entities comprising Arrium Mining Consumables Division. Under the terms of the Share Sale Agreement the total enterprise value is USD$1.23 billion.

04/11/2016

The company provides an update on its administration. The Administrators are continuing with the sale process for Arrium Australia and a dual track sale process of Moly-Cop.

05/10/2016

On 12 September 2016, ASIC granted an extension to the period within which the Company must hold its 2016 AGM to 7 December 2018. On that same date, ASIC also granted the Company deferral relief with respect to its obligations under Part 2M.3 of the Act in relation to a financial year ending 30 June, or half-year ending 31 December, during the deferral period to 7 October 2018.

14/09/2016

The company has appointed Morgan Stanley Australia Limited as its lead financial advisor in connection with a possible sale or recapitalisation of Arrium Australia's combined steel works, port and mining operations at Whyalla, together with its manufacturing, distribution and recycling business.

29/07/2016

The company provides an update on the Recapitalisation / Sale Process. KordaMentha is proposing two processes as follows: a dual track process for Moly-Cop, involving a trade sale or an initial public offering; and a sale/recapitalisation of Arrium Australia's combined steelworks, port and mining operations at Whyalla, together with its manufacturing, distribution and recycling businesses.

04/07/2016

KordaMentha Restructuring today welcomed the SA Government's $50 million contribution to help secure the future of Arrium's OneWhyalla business. Administrator Mark Mentha said the decision will go a long way towards assisting the town's steelworks and mining operations. Mr Mentha said he looks forward to working with South Australia to gain a further $100 million for future investment.

10/06/2016

KordaMentha have now turned their attention to the pathway to the future recapitalisation / sale of the Arrium Group. In order to facilitate an efficient and timely recapitalisation / sale process, KordaMentha are preparing the necessary materials that interested parties will require to conduct due diligence. These include an information memorandum, audited FY16 financial statements, FY17 budgets and a comprehensive data room with relevant up-to-date information, which will be made available to qualifying interested parties. It is anticipated that the recapitalisation / sale process will commence in late July 2016 and be largely completed by the end of 2016.

24/05/2016

On 3 May 2016, the Federal Court of Australia ordered that pursuant to Section 439A(6) of the Corporations Act, the period within which the Administrators' must convene the second meeting of creditors of the Company be extended up to and including 28 February 2017. The Court also ordered that pursuant to section 447A(1) of the Act, the second meeting may be held at any time during, or within five business days after the end of the convening period, as extended by the Court.

04/05/2016

ARI shares have been suspended from quotation following the appointment of Administrators and are expected to remain so for the duration of the Administration. Further, shareholders should note that a transfer of shares in a company or alteration of status of shareholders during an administration will not be effective unless the Administrator gives written consent or the court permits.

19/04/2016

The company announces that it has ceased voluntary reporting of its mining production activities. The Company commenced issuing quarterly reports of its mining activities in 2012 for the convenience of its shareholders. However, as the Company is not a mining entity under the ASX Listing Rules, the Administrators have decided that in the current circumstances it is appropriate that the Company cease providing those reports to the ASX until further advised.

14/04/2016

The company announces that pursuant to orders made by the Federal Court of Australia on 12 April 2016, Mark Mentha, Bryan Webster, Martin Madden and Cassandra Mathews of KordaMentha have been appointed Joint and Several Voluntary Administrators of the Company and of those companies listed in the attached Schedule, replacing Said Jahani, Paul Billingham, Michael McCann and Matthew Byrnes of Grant Thornton.

13/04/2016

The Administrators of Atrium Limited advise that the subsidiary company Bradken Consolidated Pty Ltd included in the schedule of Atrium Limited subsidiaries in voluntary administration provided to the ASX yesterday, is not related to the ASX listed company Bradken Limited.

08/04/2016

Voluntary Administrators - Said Jahani, Paul Andrew Billingham, Michael Gerard McCann and Matthew James Byrnes each of Grant Thornton - have been appointed to oversee the affairs of the Company

07/04/2016

securities of Arrium Limited (the "Company") will be suspended from quotation immediately, at the request of the Company, pending the release of an announcement in relation to the Company's discussions with its lenders

06/04/2016

name changed from OneSteel Limited

02/07/2012
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Has any money been recouped by shareholders to date?

30/04/2021 16:42:39

Mr Gupta is currently billionaire so he might become a millionaire( as you said) with a crap company like ARI

10/08/2019 13:56:03

Dont worry too much about the bargain price paid to the administrators for ARI by Mr Gupta he has retained all the old senior management along with their business skills, the same management that was creating wealth for the ARI shareholders, I\'m sure Mr Gupta will be a millionaire in no time ???? 

15/05/2019 19:00:49

Why the government left us shareholders out in the cold and let the Indian walk away with the company. This should be a warning sound of the end of the coalition government who claim to have our interest at heart.

How can that be when my investment have evaporated into thin air and this suppose to be part of our private pension fund.

 

16/04/2019 11:19:32

I don\'t understand your comment, \"if the new owner traded again, shareholders won\'t loose so much...\"  Is there a possibility that the Shareholders may recoup their losses?

18/01/2019 13:14:25

Shareholders the losers after being there through tough times, sold for a bargain with the port and the rest, if the new owner traded again, shareholders won’t loose so much, winners are kordametha who got their fat fees and new owners, hope they are happy and peaceful.looking after themselves,

29/12/2018 00:09:49

It is interesting to note that KordaMetha have managed to operate the receivership of Arium under a veil of secrecy from the shareholders, whom have been left out in the cold by this management arrangement. between the Government Banks and Unions. they have managed to let yet another Australian company disappear and overseas consortium\'s pick up the pieces at bargain prices. these Receivers are nothing better than Jackals, they feast on the carrion of each injured Australian corporation and under the legal system take most available cash flow in their fees, and in most cases squash any hope of resurrection.

\n\n

The mining side of this company would at current prices been sustainable.  Also with government assistance sooner rather than later, you could have brought the steel industry into line and perhaps shared ownership with The South Australian Government and the workers as  a separate entity thereby protecting the interest of the Whyalla  workers and contractors, which are now under a cloud of despair. I would suggest you will soon find KordaMentha come out and say (we did our best but we have to close the steelworks down now), The claim to fame and to justify there charges , \"they will say\" We did keep the jobs in the city for an extra couple of years. Also interesting is simultaneously another australian steelmaker Bluescope Steel has soared, so why such a disparity. perhaps without the super expensive fees for the receivers and there minions there may well have been potential for the once iconic company.         

06/12/2016 18:53:28
Company Updates
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    Directors' on-market share transactions (last 5)

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    Purchases Sales

    DATEDIRECTORNATURENUMBERPRICEAMOUNT
    10/03/2015Bryan DavisOn market111,005$0.190$21,091
    22/09/2014Peter NankervisOn market225,000$0.385$86,625
    22/09/2014Graham SmorgonOn market100,000$0.400$40,000
    22/09/2014Rosemary WarnockOn market28,000$0.385$10,780
    19/09/2014Jeremy MaycockOn market250,000$0.380$95,000

    Click here for the last 20 transactions all companies

    Directors & Executives (current)
    NAMETITLEDATE OF APPT
    Anthony BrooksCFO06/04/2016
    Dean PritchardNon Exec Director23/10/2000
    Stephen AsheInvestor Relations

    Date of first appointment, title may have changed.

    Directors & Executives (former)
    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Jeremy MaycockChairman19/08/201421/10/2016
    Doug RitchieNon Exec Director28/05/201521/10/2016
    Bryan DavisNon Exec Director01/12/200421/10/2016
    Rosemary WarnockNon Exec Director01/09/201021/10/2016
    Denise GoldsworthyNon Exec Director28/09/201521/10/2016
    Peter NankervisNon Exec Director01/12/200421/10/2016
    Andrew RobertsManaging Director, CEO01/07/201306/05/2016
    Robert BakewellCFO19/04/201006/04/2016
    Colin GalbraithNon Exec Director23/10/200022/12/2015
    Graham SmorgonNon Exec Director17/09/200717/11/2015
    Peter SmedleyChairman, Non Exec Director23/10/200017/11/2014
    Geoffrey PlummerManaging Director, CEO15/07/2013
    Laurie CoxDirector17/09/200715/11/2010
    Eileen DoyleDirector23/10/200015/11/2010
    Neville RoachNon Exec Director23/10/200016/11/2009
    Robert EveryManaging Director13/07/200020/05/2005
    David MeiklejohnNon Exec Director23/10/200028/02/2005

    Date of first appointment, title may have changed.