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clock Created with Sketch. 24/01/24
20:38
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Originally posted by Plext:
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Sale transactions On 22 January 2024, Armour Energy sold its interests in the DOCA Companies to ADZ with completion occurring on the same day. Additionally, Armour Energy and MNT sold their interests in certain Northern Territory tenements to a subsidiary of ADZ. As a consequence of the above and satisfaction of other conditions, the DOCA was effectuated and the “Armour Energy Creditors Trust” has now been established. Armour Energy’s CEO along with other employees of Armour Energy have accepted employment with Armour Energy (Surat Basin) Pty Ltd and have resigned from their roles with Armour Energy. While Armour Energy retains some residual assets such as its investments in Conjugate Energy Limited (UK incorporated company) and Auburn Resources Limited, as a result of the ADZ transaction and the transfer of its employees, its primary operations have now ceased. Receiver appointment and resignation On 17 January 2024, Justin Walsh, Andrew Hanson and Sam Freeman of EY were appointed receivers and managers of certain property of Armour Energy by the Supreme Court of Queensland. The appointment was on the application of Santos QNT Pty Ltd to protect assets subject to a prior asset sale agreement entered into with Armour Energy in 2021 where those assets have not yet formally been transferred. On 22 January 2024, Richard Tucker and Robert Hutson of KordaMentha, who had previously been appointed Receivers and Managers over all assets of the Armour Energy Group, retired as Receivers and Managers. Next steps The Liquidators are now progressing their investigations and will seek to realise any residual assets of Armour Energy, MOG and MNT. Any parties with an interest in these should contact the Liquidators.
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I missed the tenement sale of NT to ADZ.
(20min delay)