FE INVESTMENTS GROUP LIMITED (FEI)

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.

The company lodges its Activity and Cashflow Reports for June 2020 Quarter.

The company has appointed Rhys Cain and Rees Logan of Ernest and Young as liquidators of its wholly owned New Zealand subsidiary, FE Investments Limited. Messrs Cain and Logan have been appointed to protect the interests of creditors of FEIL and amongst their other duties, to undertake any statutory investigations that may be required into the conduct of the management, directors and former directors of FEIL. FEIL is currently in receivership.

The receiver of FE Investments Ltd has issued his first report dated 29 May 2020. FEIG is expecting the Unaudited Preliminary Final Annual Report (4E) to be released on finalisation of the audit which is estimated to be completed by the end of June 2020, with the Consolidated Annual Report to follow release of the 4E.

The company lodges its March 2020 Quarter Activity and Cashflow Reports.

The extent of the impact to FEIG of FEI's receivership cannot at this stage be determined by the FEIG Directors until further discussions are held with the Receivers and they confirm the course of action they will pursue. Shareholders will be updated, as the impact of the receivership becomes clear.

On 31 March 2020 FEIL advised the Reserve Bank of New Zealand and TEL that, as a result of making necessary provisions against its loan book, FEIL anticipated breaching its required 8% capital adequacy ratio. FEIL expected to breach the CAR for a period of at least 23 days while a capital raise was attempted. Breach of the CAR constitutes an Event of Default under the relevant Trust Deed and regulation 8(2)(a) of the Deposit Takers Regulations 2010. TEL advised FEIL that it had formed an opinion on reasonable grounds: that the proposed capital raising had no reasonable prospects of success; that FEIL was not able to remedy the breach within the next 14 days; and, as a result, it intends immediately to exercise its powers of enforcement under the Trust Deed and will forthwith appoint a receiver to FEIL. FEI is not affected by the receivership of FEIL. FEI expects to engage with the receiver "“ Neale Jackson and Brendon James Gibson of KordaMentha.

CNZF Management has acquired 5,769,230 ordinary shares in FE Investments Group Limited or pursuant to an off-market transfer. The shares were transferred from First Eastern Holdings Limited (2,884,615 Shares) and Romulus Group Limited (2,884,615). CNZF is owned by current FEIG director and key shareholder Mr Cook Huang.

500,000 unlisted options granted in August 2018 at an exercise price of $0.20 per option lapsed unexercised at the end of the option exercise period on 2 February 2020. FEIG's share capital remains unchanged at 226,216,022 fully paid ordinary shares. No options previously granted by the company remain outstanding at this time.

The company provivdes the December 2019 Appendix 4C Commentary. Year to date earnings exceed budget by $300,000 driven by core SME business lending. FEIG repaid intercompany loans of A$0.5m in the quarter. This was offset by the A$3.5m raised in the prior quarter. Administration and corporate costs have consistently been below budget in the quarter, resulting in a lower cash outflow. New and reinvested deposits raised during the quarter ended 31st December 2019 were approximately A$11.8m, maintaining our targeted deposit levels. Net negative cashflow in the quarter due to loan book growth exceeded new deposits which is in line with the groups strategy in targeting and growing its SME business lending.

The company lodges its Cashflow Report (Appendix 4C) for the December 2019 Quarter.

The contents page of the interim financial report as at 30 September 2019 advised the Reports of the Auditor could be found at the conclusion of the Interim Report. Included at this section should have been the Auditors Independence Declaration under Section 307C of the Corporation Act 2001. Unfortunately, due to circumstances, no fault of FEIG, the Independence Declaration was inadvertently omitted. The interim report was then relodged with the inclusion of the Independence Declaration. As at 19 December 2019, S&P's report for the Company's NZ subsidiary FE Investments Limited has lowered its rating to CCC/C outlook developing from B/B stable in October 2019. The rating has been lowered due to the potential impact on FEI's capitalisation by two large loan receivables, being two hotel property developments and an exposure to a client, Tomizone. FEI maintains sufficient liquidity to deal with near-term pressures. FEIG raised additional capital of A$3.3m in September 2019 to further strengthen its capital basis.

The company issues a response to ASX Financial Condition Query.

The company lodges its Interim Financial Report as at 30 September 2019.

The company is currently waiting on information from 3rd party sources and consequently the directors are unable to finalise the Interim Financial Report until after the receipt and review of the requested information. The company are targeting a completion and lodgement of the Interim Financial Report by the commencement of trade on Monday, 9 December 2019.

The securities of the the company will be suspended from Official Quotation in accordance with Listing Rule 17.5 from the commencement of trading today, 2 December 2019, following its failure to lodge the relevant periodic report by the due date.

The securities of FE Investments Group Limited will be reinstated to Official Quotation as from the commencement of trading on Monday, 10 December 2018 following lodgement of its Half Year Financial Report for the half-year ended September 2018.

The company releases a notice of general meeting. The meeting will be held on Tuesday, 8 January 2019 at 9.00am (AEST) at the offices of Ash St. Level 21 1 York Street SYDNEY NSW 2000.

The company releases its September 2018 Interim Results Presentation.

The company lodges its Half Yearly Report and Account.

The company's securities will be suspended from Official Quotation in accordance with Listing Rule 17.5 from the commencement of trading today, 3 December 2018, following failure to lodge the relevant periodic report by the due date.

name changed from Wolfstrike Rentals Group Limited