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KBL MINING LIMITED (KBL)

Delisted from ASX

Former (or subsequent) names

Shareholder links

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

 

REGISTRY:
Boardroom Pty Ltd, Level 12, 225 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 3, 2 Elizabeth Plaza, NORTH SYDNEY, NSW, AUSTRALIA, 2060
Tel:  (02) 9927 2002 Fax: (02) 9927 2050

Company Secretary: 
Sector: Materials
Industry Group: XMJ
Activities: Precious and Base Metals Production, Development & Exploration

delisted from the close of trading on Tuesday, 28 August 2018 pursuant to Listing rule 17.15.

28/08/2018

we understand the company failed and was delisted because it did not pay its annual ASX listing fee

28/08/2018

The liquidators of the company declare that each of the KBL shares and options have no value or have only negligible value and declare that there is no likelihood that shareholders or option holders will receive any further distribution in the course of the winding up of the KBL. It has been declared that each of the shares and options are worthless as at today's date.

22/08/2018

Under Listing Rule 17.6, any entity (if not already suspended) that has not paid its annual listing fees by close of business on Tuesday, 21 August 2018 will have its securities suspended from official quotation before the commencement of trading on Wednesday, 22 August 2018. The company has not paid its annual listing fees in respect of the year ending 30 June 2019 but the securities are already suspended from official quotation. In accordance with Listing Rule 16.5, entities that pay their annual listing fees after Tuesday, 21 August 2018 must 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 AEST on Tuesday, 28 August 2018 will be removed from the Official List with effect from the close of trading on Tuesday, 28 August 2018.

22/08/2018

Following a scheduled ASX internal system change affecting the Market Announcements Platform, it has been necessary to re-apply the "˜Suspend' session state. This announcement serves to re-confirm the securities of this entity remain suspended.

06/08/2018

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

28/06/2018

The liquidators declare that there is no likelihood that shareholders or options holders will receive any further distribution in the course of the winding up of the company. This declaration is made in respect of: shareholdings in the equity of the company as listed on ASX; and in respect of any equity options in the company.

28/06/2018

At a meeting of creditors on 22 June 2018 8 the creditors of the Company resolved that the Deed of Company Arrangement be terminated, that the Company be wound up, and that Matthew Woods and Stephen Vaughan be appointed as Joint and Several Liquidators of the Company. Eligible employees may now commence the process to lodge a claim through the Fair Entitlements Guarantee Scheme (FEG) where employees may register their claims with FEG through their online portal. The Liquidators will provide creditors a report within 3 months of the liquidators' appointment.

28/06/2018

On 18 May 2018, the Deed Administrators issued a circular to creditors including noteholders, trade creditors, and employees, including a notice of meeting of creditors of the Company, convened for 1:30PM on Friday 22 June 2018. At that meeting, the deed administrators will recommend that the DOCA be terminated and that the company be placed into liquidation.

21/05/2018

The administrators had been in ongoing negotiations as to potential variations to the DOCA. They have not been able to reach a consensus as to a final term sheet in the agreed timeframe. Given the time that has elapsed, despite the progress that has been made, they no longer consider it to be commercial to persist with negotiations. The administrators then intend to convene a meeting of creditors as soon as practicable where they will recommend to the creditors that the company be placed in liquidation.

19/04/2018

The administrators provide an update to the company's creditors. Negotiations have been ongoing as to potential variations to the DOCA and these have progressed to term sheet stage. They are expected to be concluded in the near future. At the conclusion of the negotiations, a meeting of creditors will be convened to consider any variation to the deed or alternatively to terminate the deed and wind up the company.

08/03/2018

Negotiations are continuing as to potential variations to the DOCA that warrant further investigation. A further update will be provided on 5 March 2018. No action is required of shareholders or creditors at this stage.

20/02/2018

The administrators provide an update as to the status of ongoing negotiations with interested parties and next steps in the deed administration. The administrators have received an amended proposal variation to the DOCA that: takes into account the commercial requirements to acquire to the Sorby shares; provides 100 cents in the dollar to priority creditors; and provides a return to creditors. Also, they have provided a deadline extension of 16 February 2018 for the proponent to provide substantiation as to their financial capacity to complete the proposal in the proposed form and time. No action is required of shareholders or creditors at this stage.

12/02/2018

The company provides the current status of administration. The administrators have continued negotiations with interested parties and prepared and issued two draft term sheets to two of the parties, and requested a third interested party sign a confidentiality agreement prior to issuing them a draft term sheet. The administrators set a deadline of 31 January 2018 for the three new proponents to submit final revised DOCA proposals.

08/01/2018

The company's ASX annual listing fee totalling $27,500 was paid on 25 August 2017. Also the company have had advanced negotiations with two interested parties.

26/09/2017

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 21 August 2017 will have its securities suspended from official quotation before the commencement of trading on Tuesday 22 August 2017. The company has failed to pay to ASX Limited the annual listing fees in respect of the year ending 30 June 2018 and consequently will have its securities suspended from quotation immediately.

22/08/2017

The company and administrators executed the DOCA on 2 May 2017, within 15 business days following the reconvened second meeting. The proponent is yet to sign the deed. Administrators have taken steps to consider potential options for the company and creditors and have been liaising with 3 parties regarding their interest in proposing an amended DOCA. On Friday 9 June 2017, a new DOCOA proposal was received from one of those parties which is currently under consideration. They administrators are reluctant to contemplate a new DOCA that will complete at a later date than the deed approved by creditors and currently in force. In addition, at this stage, administrators are not in a position to declare the shares as worthless for the FY17 financial year.

29/06/2017

The company advises that on 6 April 2017, at the reconvened second meeting of creditors of the company, creditors resolved that the company should execute the proposed DOCA in substantially the same terms as outlined previously. The administrators have 15 business days to work with various stakeholders to draft the deed associated with the proposed DOCA and to obtain various conditions precedent to affects its execution.

11/04/2017

At the second meeting of creditors, creditors resolved that the second meeting be adjourned for a period of up to 45 business days to allow the administrators further time to negotiate the proposed DOCA and report to creditors on its revised terms.

06/02/2017

The company releases a Circular to Creditors, Noteholders, and Employees regarding the notification of further extension of convening period to Friday 27 January 2017

13/01/2017

On 12 January 2017, with the approval of the Committee of Creditors, the Administrators have sought and obtained further orders from Master Strk in the Supreme Court of Western Australia for a further extension of the convening period with respect to the Company from Monday 16 January 2017 to Friday 27 January 2017, pursuant to section 439A(6) of the Corporations Act 2001. The effect of the Third Orders is that the convening period for the second meeting of creditors of KBL is extended up to and including Friday 27 January 2017, and that the meeting may be held at any time during the convening period and the period of five business days thereafter.

13/01/2017

The company issues a Circular to Creditors and Noteholders regarding the granted further extension.

24/11/2016

The administrators have sought and obtained further orders for a further extension of the convening period with respect to the company from 30 November 2016 to 16 January 2016. The second meeting may now be convened at any time up to 16 January 2017.

24/11/2016

As contemplated by the Administrators at the first meeting of the Company's creditors, the Administrators have sought and obtained orders from Master Sanderson in the Supreme Court of Western Australia for the extension of the convening period with respect to the Company from 7 October 2016 to 30 November 2016. The Orders provide the Administrators sufficient time to complete their investigations, and to allow interested parties sufficient time to submit binding proposals to restructure and recapitalise the Company. The effect of the Orders is that the second meeting of creditors of the Company may now be convened at any time up to 30 November 2016. Notwithstanding the extension, the Administrators intend to finalise negotiations and call and hold the Second Meeting as soon as is practicable.

04/10/2016

On 19 September 2016 the secured creditor of the Company appointed Martin Jones, Andrew Smith and Ryan Eagle of Ferrier Hodgson as Receivers and Managers over the assets and undertakings of the Company. The effect of that appointment is that the Receivers immediately take full control of the affairs of the Company including liability for all debts incurred from 19 September 2016. We anticipate the Receivers will be in contact shortly to formally notify you of their appointment and the arrangements they wish to enter into with creditors and employees. Accordingly, creditors are requested to close any accounts opened in the name of the Administrators effective 18 September 2016 and issue a final invoice to AU-FM-KBLMining@kpmg.com.au at your earliest convenience. Notwithstanding the appointment of receivers the administration of the Company continues but subject to the role of the Receivers. Accordingly, the first meeting of creditors called for 20 September 2016 at 10.30am will proceed as planned.

20/09/2016

The first meeting of creditors called for 20 September 2016 at 10.30am will proceed as planned. The purpose of the meeting is to allow creditors to determine whether a committee of creditors should be appointed (and if so determine its composition), and to consider the appointment of an alternative administrator should such a resolution be put before the meeting.

20/09/2016

The first meeting of creditors will be held on Tuesday 20 September 2016 at 10:30am (Australian Eastern Standard Time) at the following locations: Room Wilarra "“ Marra Level 2, The Grace Hotel, 77 York Street, NSW 2000; and The Railway Hotel, 46 Molong Street, Condobolin NSW 2877.

13/09/2016

The securities of KBL Mining Limited will be suspended from quotation immediately, following the appointment of Mr Matthew Woods and Mr Stephen Vaughan of KPMG as joint and several Administrators of the Company.

09/09/2016

The directors resolved to appoint Mr Matthew Woods and Mr Stephen Vaughan of KPMG as joint and several Administrators of the Company.

08/09/2016

The suspension of trading in the securities of KBL Mining Limited (the "Company") will be lifted immediately, following release of an announcement regarding operational and funding matters in relation to the Company's Mineral Hill Project.

14/06/2016

The company provides an update on operations and funding arrangements for Mineral Hill.

14/06/2016

The securities of KBL Mining Limited (the "Company") will be suspended from quotation immediately, at the request of the Company, pending the release of an announcement regarding operational and funding matters in relation to the Company's Mineral Hill Project.

08/06/2016

name changed from Kimberley Metals Limited

02/12/2011

ASX Announcements (courtesy of ASX)

 

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Loading comments....  Most recent comments

This company is in liquidation - unless shares have already been disposed of the CGT loss is not claimable until either a liquidators loss declaration is made or the company is deregistered.

02/04/2020 07:28:36

Can a Captal Loss be claimed for Tax purposes

 

31/03/2020 16:44:30

It is outrageous that the Directors can create a capital raising in July 2017 and the Company is then wound up prior to June 2018.    

10/01/2019 13:49:13

ALL management should be jailed for being useless and scammers

09/10/2018 15:51:11

Done me dough :-)

09/10/2018 15:49:58

KBL shares are worthless and can no longer be sold anyway. 

11/07/2018 07:42:37

How to sell my KBL shares?

10/07/2018 14:14:42

Company Updates

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    Directors' on-market share transactions (last 5)

    rss feeds

    Purchases Sales

    DATEDIRECTORNATURENUMBERPRICEAMOUNT
    15/12/2014Jim WallOn market400,000$0.025$10,160
    12/12/2014Robert BesleyOn market100,000$0.025$2,500
    18/08/2014Robert BesleyOn market221,500$0.067$14,841
    15/08/2014Jim WallOn market460,000$0.065$29,900
    13/03/2014Jim WallOn market70,605$0.040$2,824

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Damian SpringCOO30/05/2016
    Charles BrownNon Exec Director15/01/2016

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Gregory StarrCEO18/11/201328/11/2016
    Jim WallNon Exec Chairman29/02/200817/11/2016
    Robert BesleyNon Exec Director29/02/200817/11/2016
    Rod GriffithCOO19/11/201230/05/2016
    Brian WessonManaging Director01/07/201419/01/2016
    David LaingNon Exec Director16/03/201515/01/2016
    Anthony JohnstonCEO20/03/201231/12/2014
    Stephen LonerganExecutive Director23/11/201015/05/2014
    John RichardsNon Exec Director27/08/200822/05/2013
    Stuart MathewsCOO01/06/201019/11/2012
    Richard SheridanCFO25/08/201105/10/2012
    Robert McDonaldNon Exec Director02/05/200817/01/2012

    Date of first appointment, title may have changed.