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07 December 2024
| Name: | TARGET ENERGY LIMITED (TEX) |
| ISIN: | AU000000TEX7 |
| Date of Listing: | 27 November 2006 |
| Date of Delisting: | 03 February 2020 |
Stock Exchange Status:
This entity was delisted from the Australian Securities Exchange on 03 February 2020.Legal Status:
ACN: 119 160 360
This entity was placed in liquidation on 17 December 2019.Capital Gains Tax (CGT) Status:
An administrator or liquidator has declared during tax year 2020-21 that they have reasonable grounds to believe there is no likelihood that shareholders will receive any further distribution for their securities. You are therefore entitled to crystallise a capital loss in that tax year. If you did not do so, you may seek to re-open that year’s assessment but anyway should seek professional advice as to how best to proceed.
Updates, corrections, disagreements please email to admin@delisted.com.au
Further information: deListed and InvestoGain are operated by Investogain Pty Limited which is licensed by ASIC as an Australian Financial Services Licensee (AFSL 334036). deListed acquires only securities that it deems to be of little or no value, in circumstances where the holder is unable to sell their securities on-market in the normal manner. This service has been provided online via the company’s website www.delisted.com.au since 2004.
Getting advice: Information provided in this section is of a general nature and applicable only to Australian tax residents who hold their investments on capital account (ie for long-term investment purposes). It has been prepared without taking into account your financial needs or tax situation. Before acting on the information, deListed suggests that you consider whether it is appropriate for your circumstances and recommends that you seek independent legal, financial, or taxation advice.
Disclaimer: The information provided above is to the best of our knowledge accurate as of today. But you should bear in mind that it is of a general nature and does not constitute financial or tax advice. Investogain Pty Limited accepts no liability for any loss arising from reliance on this information, including reliance on information that is no longer current.
REGISTRY:
Advanced Share Registry Services
110 Stirling Hwy, Nedlands WA 6009
Tel : +61 8 9389 8033
Fax : +61 8 9262 3723
RegistryWebsite RegistryEmail
a loss declaration has been issued and the capital loss can therefore be claimed in the financial year the declaration is issued (this declaration was issued on 20 June 2021) | 06/08/2021 |
delisted from the commencement of trading on 3 February 2020 pursuant to Listing rule 17.12. | 03/02/2020 |
we understand this company failed and ASX removed the company from listing because its securities have not been quoted for more than three years | 03/02/2020 |
On 17 December 2019, the company was placed in liquidation by order of the Federal Court of Australia. The petitioning creditor was Mr Laurence Roe, the former Managing Director of the company, who was owed entitlements arising from his employment with the company. | 17/12/2019 |
The company lodges its Quarterly Activities and Cashflow Report 30 September 2019. | 01/11/2019 |
The company lodges its Quarterly Activities and Cashflow Report 30 June 2019. | 31/07/2019 |
The company lodges its Quarterly Activities and Cash Flow Report - March 2019. | 29/04/2019 |
The company lodges its Quarterly Activities and Cashflow Report. | 30/01/2019 |
The company provides an update on the consolidation of its securities. The update relates to the confirmation of post-consolidation number of shares on issue. | 07/01/2019 |
we understand that on or about this date the company consolidated its shares 1 for 40 | 07/01/2019 |
The Company announces that it has completed the divestment of 100% of its interests in the Fairway Project to Fairway Energy Limited and the extinguishment of the Company's debt | 24/12/2018 |
The company releases updates on notification of consolidation or split | 18/12/2018 |
The company provides an update on the consolidation of its securities. The reasons for the update are: adjustment to timetable and update approval status. | 11/12/2018 |
The company advises of a revision to the timetable for the proposed consolidation. | 28/11/2018 |
The company provides an update on its consolidation. The reason for the update is an adjustment to the timetable and update approval status. | 28/11/2018 |
The company releases the results of its meeting. | 05/11/2018 |
The company releases a notification of consolidation of its securities. Shareholders will get 1 share for every 40 presently owned. | 02/11/2018 |
The company lodges its Quarterly Activities and Cashflow report to 30 Sept 2018. | 30/10/2018 |
The company releases an independent expert's report. | 03/10/2018 |
The company releases a notice of general meeting. The meeting will be held at: 11:00 am on 5 November 2018 at The Vic Boardroom, 226 Hay Street Subiaco, Western Australia, 6008. | 03/10/2018 |
The company releases the results of its meeting. | 28/09/2018 |
The company has entered into a binding agreement to restructure and recapitalise the Company. Under the agreement, Target has agreed to sell 100% of its interests in the Fairway Project to Fairway Energy Limited. This divestment is in exchange for extinguishing: 90% of the face value of the existing Convertible Noteholder debt, equating to approximately $8.07M and 100% of the Accrued Interest on the Convertible Noteholder debt, equating to approximately $1.68M. There will be a conversion of the remaining convertible noteholder debt (10%), existing secured loans (100%) and 25% of outstanding director's fees, totalling approximately $3.77M, into Target shares at $0.001 per share. The current litigation asset in relation to the Fairway project will remain with Target. | 28/09/2018 |
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 and Cashflow Report to 30 June 2018. | 27/07/2018 |
The company lodges its Quarterly Activities and Cashflow Report. | 30/04/2018 |
The company releases the results of its meeting. | 29/03/2018 |
The company lodges its Quarterly Activities and Cash Flow Report to 31 Dec 2017. | 31/01/2018 |
The securities of Target Energy Limited will be suspended from official quotation immediately at the request of the Company, pending the receipt of an announcement regarding its proposed change of activities. The Company's securities will remain suspended until the Company has either provided information regarding its proposed change of activities as required by Annexure A of ASX Guidance Note 12, or until the Company has complied with Chapters 1 and 2 of the Listing Rules in accordance with Listing Rule 11.1.3. | 21/12/2017 |
The suspension of trading in the securities of Target Energy Limited will be lifted immediately, following the release by the Company of an announcement regarding the appointment of a director | 27/09/2017 |
The securities of Target Energy Limited will be suspended from official quotation immediately at the request of the Company, pending the release of an announcement. | 25/09/2017 |
The suspension of trading in the securities of Target Energy Limited will be lifted immediately following the release of an announcement regarding an update on the Fairway divestment. | 18/10/2016 |
Bids for the combined package of the Fairway properties were due on 7 October 2016. While Canaccord and the divesting partners have since agreed to extend the bidding process for a further 4 weeks in order to attract additional bids, a number of bids have been received, including a cash offer for all properties in the package. The offer was accompanied by a Letter of Intent and remains subject to the bidder securing suitable finance and the receipt of any required regulatory approvals. The bidderis continuing its due diligence program while Canaccord and the divesting parties review the bid in detail.  While this process is underway and until such time as the bidder and the divesting partners successfully conclude the drafting of a Purchase and Sale Agreement (PSA), the partners will continue to solicit offers from additional interested parties. No offer has been accepted by Target and its divesting partners at this stage. | 18/10/2016 |
The securities of Target Energy Limited will be suspended from official quotation immediately at the request of the Company, pending the release of an announcement in relation to the Fairway sale process. | 13/10/2016 |
The suspension of trading in the securities of Target Energy Limited will be lifted immediately following the release of an announcement regarding a capital raising. ASX Code: TEX | 27/04/2015 |
Target Energy Limited ("Target") advises that the suspension of trading in its securities will remain in place pending an announcement regarding a capital raising. We anticipate that the voluntary suspension will remain in place until not later than the commencement of trading on Tuesday, 28 April 2015 | 24/04/2015 |
Target Energy Limited ("Target") advises that the suspension of trading in its securities will remain in place pending an announcement regarding a capital raising. | 22/04/2015 |
Target Energy Limited ("Target") advises that the suspension of trading in its securities will remain in place pending an announcement regarding a capital raising. | 17/04/2015 |
Target Energy Limited ("Target") advises that the suspension of trading in its securities will remain in place pending an announcement regarding a capital raising. We anticipate that the voluntary suspension will remain in place until not later than the commencement of trading on Friday, 17 April 2015 | 10/04/2015 |
Target Energy Limited ("Target") advises that the suspension of trading in its securities will remain in place pending an announcement regarding a capital raising. We anticipate that the voluntary suspension will remain in place until not later than the commencement of trading on Friday, 17 April 2015. | 10/04/2015 |
The securities of Target Energy Limited (the "Company") will be suspended from quotation immediately, at the request of the Company, pending the release of an announcement. Security Code: TEX | 07/04/2015 |
The suspension of trading in the securities of Target Energy Limited will be lifted immediately following the release of an announcement regarding a successful capital raising. ASX Code: TEX | 21/10/2014 |
The securities of Target Energy Limited (the "Company") will be suspended from official quotation immediately at the request of the Company, pending the release of an announcement in relation to a capital raising. Security Code: TEX | 20/10/2014 |
listed entity carried for record purposes only | 27/11/2006 |
a loss declaration has been issued and the capital loss can therefore be claimed in the financial year the declaration is issued (this declaration was issued on 20 June 2021) | 06/08/2021 |
delisted from the commencement of trading on 3 February 2020 pursuant to Listing rule 17.12. | 03/02/2020 |
we understand this company failed and ASX removed the company from listing because its securities have not been quoted for more than three years | 03/02/2020 |
On 17 December 2019, the company was placed in liquidation by order of the Federal Court of Australia. The petitioning creditor was Mr Laurence Roe, the former Managing Director of the company, who was owed entitlements arising from his employment with the company. | 17/12/2019 |
The company lodges its Quarterly Activities and Cashflow Report 30 September 2019. | 01/11/2019 |
The company lodges its Quarterly Activities and Cashflow Report 30 June 2019. | 31/07/2019 |
The company lodges its Quarterly Activities and Cash Flow Report - March 2019. | 29/04/2019 |
The company lodges its Quarterly Activities and Cashflow Report. | 30/01/2019 |
The company provides an update on the consolidation of its securities. The update relates to the confirmation of post-consolidation number of shares on issue. | 07/01/2019 |
we understand that on or about this date the company consolidated its shares 1 for 40 | 07/01/2019 |
The Company announces that it has completed the divestment of 100% of its interests in the Fairway Project to Fairway Energy Limited and the extinguishment of the Company's debt | 24/12/2018 |
The company releases updates on notification of consolidation or split | 18/12/2018 |
The company provides an update on the consolidation of its securities. The reasons for the update are: adjustment to timetable and update approval status. | 11/12/2018 |
The company advises of a revision to the timetable for the proposed consolidation. | 28/11/2018 |
The company provides an update on its consolidation. The reason for the update is an adjustment to the timetable and update approval status. | 28/11/2018 |
The company releases the results of its meeting. | 05/11/2018 |
The company releases a notification of consolidation of its securities. Shareholders will get 1 share for every 40 presently owned. | 02/11/2018 |
The company lodges its Quarterly Activities and Cashflow report to 30 Sept 2018. | 30/10/2018 |
The company releases an independent expert's report. | 03/10/2018 |
The company releases a notice of general meeting. The meeting will be held at: 11:00 am on 5 November 2018 at The Vic Boardroom, 226 Hay Street Subiaco, Western Australia, 6008. | 03/10/2018 |
The company releases the results of its meeting. | 28/09/2018 |
The company has entered into a binding agreement to restructure and recapitalise the Company. Under the agreement, Target has agreed to sell 100% of its interests in the Fairway Project to Fairway Energy Limited. This divestment is in exchange for extinguishing: 90% of the face value of the existing Convertible Noteholder debt, equating to approximately $8.07M and 100% of the Accrued Interest on the Convertible Noteholder debt, equating to approximately $1.68M. There will be a conversion of the remaining convertible noteholder debt (10%), existing secured loans (100%) and 25% of outstanding director's fees, totalling approximately $3.77M, into Target shares at $0.001 per share. The current litigation asset in relation to the Fairway project will remain with Target. | 28/09/2018 |
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 and Cashflow Report to 30 June 2018. | 27/07/2018 |
The company lodges its Quarterly Activities and Cashflow Report. | 30/04/2018 |
The company releases the results of its meeting. | 29/03/2018 |
The company lodges its Quarterly Activities and Cash Flow Report to 31 Dec 2017. | 31/01/2018 |
The securities of Target Energy Limited will be suspended from official quotation immediately at the request of the Company, pending the receipt of an announcement regarding its proposed change of activities. The Company's securities will remain suspended until the Company has either provided information regarding its proposed change of activities as required by Annexure A of ASX Guidance Note 12, or until the Company has complied with Chapters 1 and 2 of the Listing Rules in accordance with Listing Rule 11.1.3. | 21/12/2017 |
The suspension of trading in the securities of Target Energy Limited will be lifted immediately, following the release by the Company of an announcement regarding the appointment of a director | 27/09/2017 |
The securities of Target Energy Limited will be suspended from official quotation immediately at the request of the Company, pending the release of an announcement. | 25/09/2017 |
The suspension of trading in the securities of Target Energy Limited will be lifted immediately following the release of an announcement regarding an update on the Fairway divestment. | 18/10/2016 |
Bids for the combined package of the Fairway properties were due on 7 October 2016. While Canaccord and the divesting partners have since agreed to extend the bidding process for a further 4 weeks in order to attract additional bids, a number of bids have been received, including a cash offer for all properties in the package. The offer was accompanied by a Letter of Intent and remains subject to the bidder securing suitable finance and the receipt of any required regulatory approvals. The bidderis continuing its due diligence program while Canaccord and the divesting parties review the bid in detail.  While this process is underway and until such time as the bidder and the divesting partners successfully conclude the drafting of a Purchase and Sale Agreement (PSA), the partners will continue to solicit offers from additional interested parties. No offer has been accepted by Target and its divesting partners at this stage. | 18/10/2016 |
The securities of Target Energy Limited will be suspended from official quotation immediately at the request of the Company, pending the release of an announcement in relation to the Fairway sale process. | 13/10/2016 |
The suspension of trading in the securities of Target Energy Limited will be lifted immediately following the release of an announcement regarding a capital raising. ASX Code: TEX | 27/04/2015 |
Target Energy Limited ("Target") advises that the suspension of trading in its securities will remain in place pending an announcement regarding a capital raising. We anticipate that the voluntary suspension will remain in place until not later than the commencement of trading on Tuesday, 28 April 2015 | 24/04/2015 |
Target Energy Limited ("Target") advises that the suspension of trading in its securities will remain in place pending an announcement regarding a capital raising. | 22/04/2015 |
Target Energy Limited ("Target") advises that the suspension of trading in its securities will remain in place pending an announcement regarding a capital raising. | 17/04/2015 |
Target Energy Limited ("Target") advises that the suspension of trading in its securities will remain in place pending an announcement regarding a capital raising. We anticipate that the voluntary suspension will remain in place until not later than the commencement of trading on Friday, 17 April 2015 | 10/04/2015 |
Target Energy Limited ("Target") advises that the suspension of trading in its securities will remain in place pending an announcement regarding a capital raising. We anticipate that the voluntary suspension will remain in place until not later than the commencement of trading on Friday, 17 April 2015. | 10/04/2015 |
The securities of Target Energy Limited (the "Company") will be suspended from quotation immediately, at the request of the Company, pending the release of an announcement. Security Code: TEX | 07/04/2015 |
The suspension of trading in the securities of Target Energy Limited will be lifted immediately following the release of an announcement regarding a successful capital raising. ASX Code: TEX | 21/10/2014 |
The securities of Target Energy Limited (the "Company") will be suspended from official quotation immediately at the request of the Company, pending the release of an announcement in relation to a capital raising. Security Code: TEX | 20/10/2014 |
listed entity carried for record purposes only | 27/11/2006 |
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So I see there was a capital reconstruction 7/1/19. My father\'s 500,000 shares reduced to 12,500. Would he have received payment then for cancellation of the shares? Now he has 12,500 shares. Seems they are worthless now so what do we do about them? And what do I give his accountant regarding the capital loss (what paperwork)? NB the accountant has not yet does his tax for yr end June 22. | 27/08/2022 17:15:45 |
Liquidator has declared the shares are worthless 20/06/2021 | 29/07/2021 17:55:20 |
Purchases Sales
| DATE | DIRECTOR | NATURE | NUMBER | PRICE | AMOUNT |
|---|---|---|---|---|---|
| 17/12/2013 | Christopher Rowe | On market | 1,000,000 | $0.047 | $46,634 |
| 07/03/2013 | Christopher Rowe | On market | 404,000 | $0.090 | $36,362 |
| 13/12/2012 | Christopher Rowe | On market | 399,978 | $0.096 | $38,444 |
| 23/08/2012 | Christopher Rowe | On market | 153,000 | $0.065 | $9,945 |
| 07/05/2012 | Christopher Rowe | On market | 250,000 | $0.068 | $16,950 |
| NAME | TITLE | DATE OF APPT |
|---|---|---|
| Craig Hall | Independent Director | 01/02/2019 |
| Matthew Battrick | Non Exec Director | 27/09/2017 |
| Carol New | Non Exec Director, Company Secretary | 22/02/2019 |
| Kate Stoney | Company Secretary |
Date of first appointment, title may have changed.
| NAME | TITLE | DATE OF APPOINTMENT | DATE OF RESIGNATION |
|---|---|---|---|
| Laurence Roe | Managing Director, CEO | 06/04/2006 | 22/02/2019 |
| Stephen Mann | Non Exec Director | 13/12/2010 | 04/01/2018 |
| Christopher Rowe | Non Exec Chairman | 01/01/2010 | 22/09/2017 |
| Graham Riley | Non Exec Director | 13/12/2010 | 05/10/2012 |
Date of first appointment, title may have changed.
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