JERVOIS GLOBAL LIMITED (JRV)

The ASX Announcement appoints Gayle Dickerson, David Hardy, and Ian Sutherland as liquidators of Jervois. Jervois Global Limited filed for bankruptcy in the US and completed a voluntary administration in Australia. The Liquidators believe there is no likelihood of distribution for shareholders. Shareholders who acquired Jervois shares after September 1985 may face a capital loss.

The Second Meeting of Creditors of the Companies required the Companies to execute a Deed of Company Arrangement under the Corporations Act 2001. The DOCA was executed on 9 May 2025, and Jervois' principal assets and businesses were transferred to New JRV Topco Holdings LLC and its subsidiaries.

Upon completion of the DOCA, the company was placed into liquidation with Gayle Dickerson, David Hardy and Ian Sutherland appointed as liquidators. The control of the Companies will remain with the Liquidators until finalisation of the liquidations.

The New South Wales Supreme Court extended the statutory convening period for Companies, extending the Second Meeting of Creditors on 30 April 2025. The Administrators recommend a Deed of Company Arrangement for better return.

The Australian Jervois Companies' convening period was extended by Justice Black to 30 April 2025, allowing the Administrators to convene second meetings before then.

Entities that have been suspended for more than three months due to their unfiled periodic reports, along with the oldest overdue report deadline and their two-year deadline for trading plans, will be removed from the official list if these conditions are not fulfilled.

Shareholders in this company should consider crystallising a capital loss in 2024/25 by selling their shares. This process is now much easier and quicker. It can be achieved 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 has appointed David Hardy and Gayle Dickerson of KPMG as joint and several voluntary administrators.

The company has confirmed confirmation orders for its Chapter 11 recapitalisation procedure, working with secured creditors to ensure the process becomes effective.

The company has received two notices from shareholders holding at least 5% of votes, under section 249D of the Corporations Act 2001, requesting a general meeting to consider resolutions and comply with directors' obligations.

The company releases its Quarterly Activities Report and Cashflow to 31 December 2024.

The company and its affiliates have started the US Chapter 11 process, announcing it on 2 January 2025. Shareholders will receive a Combined Hearing Notice, Non-Voting Status Notice, and Opt-Out Form. Jervois shares will be suspended from trading during this process.

The company has extended the waivers announced on 27 November 2024 for the Jervois Finland Working Capital Facility and the US$100 million 12.5% Idaho Cobalt Operations senior secured bonds, as well as deferring interest payments until 29 January 2025.

The company has extended the waivers for the Jervois Finland Working Capital Facility and the US$100 million 12.5% Idaho Cobalt Operations senior secured bonds until 27 January 2025.

The company has signed a recapitalisation agreement with the Australian Securities Exchange, confirming that ASX Listing Rules 11.1.2 and 11.2 do not apply to the proposed process.

The securities of Jervois Global Limited were suspended at JRV's request on 2 January 2025 pending the release of an announcement regarding a proposed recapitalisation. Having regard to JRV's announcement on 2 January that it is expected to implement the recapitalisation in Australia by an interconditional deed of company arrangement in respect of JRV, ASX has determined that JRV's financial condition is not adequate to warrant the continued quotation of its securities and therefore is in breach of Listing Rule 12.2. Accordingly, JRV's securities will now continue to be suspended from quotation under Listing Rule 17.3. The securities will continue until ASX is satisfied that JRV is in compliance with the Listing Rules, including Listing Rule 12.2, and that it is otherwise appropriate for JRV's securities to be reinstated to quotation.

The company has signed a recapitalisation agreement with Millstreet Capital Management, resulting in a prepackaged US Chapter 11 procedure and a private group status. The transaction will fund business, restart the São Miguel Paulista nickel cobalt refinery in Brazil, and reduce debt by $170 million. Millstreet will extend its existing JFO Working Capital Facility from March 2025 to March 2026.

The securities of Jervois Global Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of JRV, pending the release of an announcement regarding a proposed recapitalisation.

name changed from Jervois Mining Limited