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PAN ASIA CORPORATION LIMITED (PZC)

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(updated at weekends)

Former (or subsequent) names

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Our website ranking of PZC: rating 4
(4 out of 5)
COMPANY WEBSITE:

 

REGISTRY:
Link Market Services, Level 12 QV1 Building 250 St Georges Terrace Perth WA 6000
Tel : +61 8 9211 6670 or 1300 554 474
Fax : +61 2 9287 0303
RegistryWebsite RegistryEmail

Company details

Address: Level 5, 23-25 O'Connell Street, Sydney, NSW, 2000
Tel:  02 8246 8832 Fax: 02 9233 3307

Date first listed: 21/12/2001
Company Secretary: Brett Crowley
Sector: Energy
Industry Group: XEJ
Activities: Mineral Exploration & Development
OFX Transferring Money Internationally to Free

Shareholders in this company should consider crystallising a capital loss in 2020/21 by selling their worthless shares, which they can achieve online by entering transaction details here. While this usually makes good economic sense, we recommend you seek professional advice before buying or selling securities, your accountant is probably the best person.

13/08/2020

delisted effective immediately pursuant to Listing rule 17.12.

11/04/2019

we understand this company failed and ASX removed the company from listing because its securities have not been quoted for more than three years

11/04/2019

The company lodges its Quarterly Cashflow Report.

01/04/2019

The company lodges its Quarterly Activities Report.

01/04/2019

The company lodges its 2018 Annual Report to shareholders.

01/04/2019

Pan Asia has executed a binding agreement for the divestment of the TCM Coal Project for total consideration of US$4.6 million. Consideration of US$3.6 million is payable to Pan Asia two tranches, which is in addition to US$1.0 million received by Pan Asia in May 2017. Pan Asia has received the first tranche payment of US$2.0 million. The second tranche payment of US$1.6 million is payable by 29 January 2019, conditional on Pan Asia shareholders voting to approve the divestment by this date. Pan Asia will issue 30 million shares at A$0.002 per share to its Indonesian joint venture partners as consideration for their 25% interest in TCM. The strategic and timely divestment of TCM is transformative, enabling Pan Asia to focus its future direction on the Australian coal sector and completion of the acquisition of New Emerald Coal.

08/11/2018

The company lodges its First Quarter Cashflow Report.

31/10/2018

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

The company lodges its Quarterly Activities Report.

27/07/2018

The company lodges its Quarterly Cashflow Report.

27/07/2018

The parties have entered into an "extension agreement" under which GM agrees and confirms that it will purchase TCM from the parties providing "the conditions precedent are met by August 15, 2018". The conditions precedent are conditions which would be expected to be found in a commercial agreement of this kind, including: all Indonesian government and regulatory approvals are in place; the shares in IWM and TCM are free from any claim, option, charge, lien, encumbrance, right of pre-emption or third party right; IWM and TCM are not engaged in any litigation or other proceedings; and any Australian regulatory approvals that may be required have been obtained.

08/06/2018

The company releases the results of its meeting.

29/05/2018

On 21 May 2018, NEC was placed into voluntary administration and a receiver was appointed. The appointment of a voluntary administrator and receiver was made by a secured lender. The secured lender took this action as another creditor had withdrawn its support and was seeking to wind up NEC. PZC has been in discussions with the secured creditor and the receiver and it is their intention to proceed to a Deed of Company Arrangement. PZC has security over its debt and initial discussions with the receiver and secured creditor confirm that the PZC security will be part of the DOCA arrangement. Accordingly, the Board is comfortable that the debt will be recovered or it will acqire the assets it seeks as part of the proposed DOCA.

23/05/2018

The company lodges its Quarterly Activities Report.

27/04/2018

The company lodges its Quarterly Cashflow Report.

27/04/2018

The General Meeting of the company's shareholders will be held at Level 5, 23-25 O'Connell Street, Sydney, NSW on 29 May 2018, commencing at 10.30am (Sydney time).

27/04/2018

PZC has received a requisition under section 249D of the Corporations Act 2001 for a meeting to be convened to consider resolutions to remove Michael Pixley and Gary Williams as directors and to appoint Troy Burns and Robert Campbell as new directors of the Company. The meeting needs to be called within 21 days and be held by 29 May 2018.

03/04/2018

In relation to the sale of TCM to Glory Merry, the parties have entered into an extension agreement under which GM agrees and confirms that it will purchase TCM from the parties providing the conditions precedent are met by May 31, 2018.

03/04/2018

The company lodges its Half Year Accounts.

14/03/2018

The company issues a response to ASX Query.

13/02/2018

The securities of Pan Asia Corporation Limited will be suspended from official quotation immediately at the request of the Company. The Company's securities will remain suspended until either the Company has recompiled with Chapters 1 and 2 of the Listing Rules in accordance with Listing Rule 11.1.3, or the Company provides ASX Limited with sufficient information to demonstrate that the proposed acquisition will not result in a significant change to the nature or scale of the Company's activities such that Listing Rule 11.1.3 applies.

13/02/2018

The suspension of trading in the securities of Pan Asia Corporation Limited (the "Company") will be lifted immediately following the release of an announcement regarding the Company's acquisition of Queensland coal assets.. Security Code: PZC

10/12/2015

Pan Asia Corporation Ltd ("Pan Asia") advises it has entered into a binding but conditional Term Sheet ("Agreement") to acquire a sizeable coal operation comprising conventional coal exploration and pre development projects in the Bowen Basin in Queensland, Australia from United Queensland Resources Pty Ltd ("UQR") and its wholly owned subsidiary, New Emerald Coal Ltd ("NEC"). Pan Asia's Board of Directors believes this represents a counter cyclical opportunity to acquire sizeable strategic assets in the prime Queensland coal regions.

10/12/2015

The securities of Pan Asia Corporation Limited (the "Company") will be suspended from official quotation immediately at the request of the Company, pending the release of an announcement. Security Code: PZC

07/12/2015

securities to be reinstated to quotation 31 Jan

27/01/2011

company provides an update on the ongoing drilling activities at the TCM Coal Project located in South Kalimantan, Indonesia in which the Company has a 75% interest

25/01/2011

Pan Asia Corp Ltd director Domenic Vincent Martino and Sandra Gae Martino bought 6,850,000 shares from 2008 to December 24, 2010, becoming substantial shareholders with 6,850,000 shares (6.49%)

12/01/2011

the fundraising of $1million has been fully subscribed - the Company is in the process of finalising the share issues for this capital raising and in connection with the acquisition of Innovation West - once final re-listing requirements are met, the Company will complete the relisting and will advise early in January 2011 as to the scheduled date for re-quotation to commence

29/12/2010

we understand that on or about this date the company consolidated its shares 1 for 20

01/12/2010

company is now a step closer to achieving its goal of becoming a major supplier to expanding Asian markets with the acquisition of a pipeline of thermal coal projects in Indonesia. Finalised yesterday with overwhelming shareholder approval at the company's Annual General Meeting, the purchase of Innovation West Pty Ltd has given Pan Asia a balanced mix of assets, including one with immediate cashflows from a four-year, 4.8 million tonne off-take agreement with Noble Resources. The other assets include: ? A Flagship Pre Development project in South Kalimantan (the TCM Coal Project) that has an initial JORC resource of 19.7Mt (Indicated), 11Mt (Inferred) and an exploration target of 50-70Mt ? A Flagship Exploration project, BCKP Coal Project, that has large tonnage potential with an exploration target of 50-70Mt + ? A Pipeline of other project opportunities covering each of the above categories

30/11/2010

shareholders at yesterday's AGM also agreed that the issued capital of the company be consolidated on the basis that: a) every twenty (20) Ordinary Shares be consolidated into one (1) Ordinary Share; b) every twenty (20) Performance Shares be consolidated into one (1) Performance Share and c) every twenty (20) Options be consolidated into one (1) Option,

30/11/2010

company provides an update

29/11/2010

securities to be suspended 29 Nov re change of activities

26/11/2010

securities reinstated

07/09/2010

securities suspended re acquisition of Innovation West P/L

06/09/2010

name changed from Sam's Seafood Holdings Limited

30/11/2009

ASX Announcements (courtesy of ASX)

 

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    Directors' on-market share transactions (last 5)

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    Purchases Sales

    DATEDIRECTORNATURENUMBERPRICEAMOUNT
    24/07/2017Peter Chai35,000,000-$0.002$70,000
    03/06/2014Domenic MartinoOn market200,000$0.010$2,000
    03/05/2013Mitch JakemanOn market250,000$0.040$10,000
    01/05/2013Luke MartinoOn market100,000$0.040$4,000
    23/04/2013Luke MartinoOn market110,000$0.046$5,060

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Peter ChaiChairman09/06/2017
    Jason CampbellCFO11/10/2011
    Chin LeeNon Exec Director21/03/2016
    Michael PixleyNon Exec Director09/12/2008
    Sean ChaiDirector09/06/2017
    Gary WilliamsDirector09/06/2017
    Amisha MillerAdministrator

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Domenic MartinoChairman24/12/201004/07/2017
    Alan HopkinsCEO14/08/200909/06/2017
    Luke MartinoNon Exec Director04/03/201009/06/2017
    Tim GazzardNon Exec Director28/05/201309/09/2014
    Mitch JakemanNon Exec Director29/11/201228/11/2013
    Honardy BoentarioDirector24/12/201021/06/2012

    Date of first appointment, title may have changed.