According to PPB's website the convening period for the decision meeting ends on 31 August so no change there. I spoke with their office recently and they have not prepared an application at this stage to further extend the date so if no further application is made to the Court to extend the convening period, the meeting must be held within 5 business days from 31 Aug. Notice of the meeting to creditors must be given 5 days before the meeting so if the meeting is to proceed we should know by 31 Aug. The Administrator's office has confirmed that the Report to be issued with the notice to creditors will be posted on their website on the same day the notices are sent to creditors so keep an eye out for it just before 31 Aug. It will detail the Administrator's recommendation and if a DOCA proposal is being proposed, it will set out the proposal. I would also expect an announcement to the ASX by the Administrator soon.
I also established that AED's interest in the Puffin permits has not been sold but is likely to be the subject of a DOCA proposal tho Sinopec still hold security over the asset. Although a DOCA proposal has not yet been finalised it seems to be under negotiation but as I have previously indicated, IMO I do not expect AED to retain any share of Puffin due to the size of Sinopec's claimed debt. It remains to be seen about whether my earlier prediction will come about.
ANZ
AED Price at posting:
14.5¢ Sentiment: None Disclosure: Held
