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NAVIGATOR RESOURCES LIMITED (NAV)

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ASX, Legal & CGT Status

Former (or subsequent) names

Shareholder links

 

REGISTRY:

Boardroom Pty Ltd
Level 8, 210 George Street, Sydney NSW 2000
Tel : +61 2 9290 9600 or 1300 737 760
Fax : +61 2 9279 0664 or 1300 653 459
RegistryWebsite RegistryEmail

Company details

Address: Level 5, 126 Phillip Street, Sydney NSW 2000
Tel:  (08) 9226 5311Fax: (+61 2) 8072 1440

Date first listed: 19/09/2003
Company Secretary: Alistair McKeough
Sector: Materials Industry Group: XMJ
Activities: Operational focus is gold at Leonora, Western Australia, where the aim is to increase the current resource of 444,000 oz gold and advance towards production

News & Events

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name changed to AF Legal Group Ltd

04/06/2019

AF Legal Group Ltd (formerly known as Navigator Resources Limited) confirms that the public offer under the prospectus has successfully closed, raising $5,912,494 (before costs) via the issue of 29,562,470 new shares at an issue price of $0.20 per share; and the consideration offer has successfully closed, resulting in the issue of 10,875,000 new shares at a deemed issue price of $0.20 per share to the AFL Vendor. The company has completed its acquisition of AF Legal Pty Ltd.

30/05/2019

ASX has granted the company a waiver from ASX Listing Rule 14.7 to the extent necessary to enable the company to issue securities to related parties more than one month after shareholders approved the issue of securities at the Extraordinary General Meeting held on 8 April 2019.

28/05/2019

The company has received a conditional reinstatement letter from the Australian Securities Exchange whereby the ASX has agreed to requote NAV to trading subject to the usual conditions. The Company will now move forward with closure of the prospectus offer, allotment of the securities pursuant to that offer and completion of the acquisition of AF Legal Pty Ltd.

23/05/2019

The capital raising for the proposed transaction has been strongly subscribed with over $5 million raised to date led by Bell Potter Securities. As advised by the company on 26 April 2019, the offers under the Prospectus were due to close on 1 May 2019. Whilst the minimum subscription has been achieved to date, the company can confirm that it remains in discussions with the ASX in relation to a reinstatement condition. The closing date will now be on 29 May 2019.

10/05/2019

The company lodges its Quarterly Cashflow Report.

30/04/2019

The company lodges its Quarterly Activities Report.

30/04/2019

The closing date of the offers pursuant to the prospectus has been extended by two days. The closing date will be 1 May 2019. The company's indicative timetable had been updated.

26/04/2019

we understand that on or about this date the company consolidated its shares 1 for 20

18/04/2019

The company announces the completion of the consolidation of its securities.

12/04/2019

The company releases an update to its consolidation/split. Shareholder approval has been obtained.

08/04/2019

The company releases the results of its EGM.

08/04/2019

The company releases an Investor Presentation.

03/04/2019

The company releases a notification of consolidation. Shareholders get 1 share for every 20 presently owned.

02/04/2019

The company issues a prospectus for the offer of between 20,000,000 and 32,500,000 fully paid ordinary shares at an issue price of 20 cents per new share to raise between $4,000,000 and $6,500,000,000; and for the offer of 10,875,000 fully paid ordinary shares at a deemed issue price of 20 cents per share to the AFL vendor as part of the consideration payable by the company for the acquisition of the AFL shares.

29/03/2019

The company releases a notice of EGM along with an explanatory statement and proxy form. The meeting will be held on 8 April 2019 at 10:00 am AEST at Automic Group Level 5, 126 Phillip Street Sydney NSW 2000.

08/03/2019

The company lodges its Half Yearly Report and Accounts.

27/02/2019

The company lodges its Quarterly Activities Report.

31/01/2019

The company lodges its Quarterly Cashflow Report.

31/01/2019

The company enters into agreement to acquire AF Legal Pty Ltd

19/12/2018

The company releases its new constitution.

04/12/2018

The company releases the results of its 2018 Annual General Meeting.

28/11/2018

The company lodges its Quarterly Activities Report.

31/10/2018

The company lodges its Quarterly Cashflow Report.

31/10/2018

The company releases a notice of AGM, explanatory statement and proxy form. The meeting will be held on 28 November 2018 at 3:00PM AEDT at Automic Group Level 5, 126 Phillip Street Sydney NSW 2000.

29/10/2018

At meetings held on 27 September 2018, the scheme creditors unanimously resolved that: meetings of the scheme creditors of each scheme company be held concurrently; the scheme proposed between the scheme creditors and the scheme companies be agreed to by the scheme creditors; and when seeking the approval of the court for the scheme, the scheme companies apply for additional orders that such approval be granted subject to certain modifications to new finance documents binding on scheme creditors. The group will seek approval of the scheme in the Federal Court of Australia in Sydney on 4 October 2018. If the court approves the scheme, the group intends to lodge the orders of the court with ASIC and the scheme will complete. The deed administrators presently expect the DOCA will effectuate on or around 12 October 2018, however a further announcement will be made when this occurs.

03/10/2018

The company releases an Appendix 4G and Corporate Governance Statement.

20/09/2018

The company lodges its 2018 Annual Report.

20/09/2018

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 Report.

31/07/2018

The company lodges its Quarterly Cashflow Report.

31/07/2018

The company lodges its Quarterly Activities Report.

01/05/2018

The company lodges its Quarterly Cashflow Report.

01/05/2018

The company lodges its Half Yearly Report and Accounts.

07/03/2018

The company lodges its Quarterly Activities Report.

31/01/2018

The company lodges its Quarterly Cashflow Report.

31/01/2018

The company releases the results of its 2017 AGM.

29/11/2017

The Annual General Meeting of the Shareholders will be held at 10:00am (Sydney time) on Wednesday, 29 November 2017 at Whittens & McKeough, Level 29, 201 Elizabeth Street, Sydney NSW.

30/10/2017

The company lodges its Quarterly Activities Report.

27/10/2017

The company lodges its Quarterly Cashflow Report.

27/10/2017

The company releases its Appendix 4G and Corporate Governance Statement.

25/09/2017

The company lodges its 2017 Annual Report.

25/09/2017

The transaction in relation to the acquisition of 100% of the issued capital of of First Pharma has been delayed as the parties have been working with regulators to determine the information that will be required by the parties in order to recomply with Chapters 1 and 2 of the Listing Rules. The term of the HOA has been therfore extended to 30 November 2017.

22/09/2017

The company announces the results of its geochemical exploration activities completed at the Violet Gold Project located in Western Australia. Two discrete mineralised structures were identified trending in a north-north-east orientation through the tenure. The company is evaluating numerous opportunities both within and outside the resource sector.

23/08/2017

The company lodges its Quarterly Activities Report.

31/07/2017

The company lodges its Quarterly Cashflow Report.

31/07/2017

The company announces the commencement of field based exploration - Violet Gold Project.

01/05/2017

The company lodges its Quarterly Activities Report.

01/05/2017

The company lodges its Quarterly Cashflow Report.

01/05/2017

The securities of Navigator Resources Limited will be suspended from quotation immediately, following the Company's announcement of a back door listing transaction. The Company will remain suspended pending re-compliance with Chapters 1 & 2 of the ASX Listing Rules.

27/03/2017

The suspension of trading in the securities of Navigator Resources Limited will be lifted as from the commencement of trading on Thursday, 31 March 2016, following the effectuation of the DOCA on 12 February 2016 and the completion of a capital raising.

30/03/2016

The Board of Navigator Resources Limited is pleased to advise that it has issued and allotted the following securities pursuant to the prospectus dated 16 February 2016: 375,000,000 fully paid ordinary shares; and 225,000,000 options.

22/03/2016

The company lodges its half year accounts for the half year ended 31 December 2015.

15/03/2016

The company is pleased to advise that it has closed all offers under the Prospectus dated 16 February 2016. In particular, the Board is pleased to advise that the general offer under the Second Placement closed oversubscribed. Accordingly, the Company has raised the maximum subscription amount of $2,000,250. Applicants under the Second Placement that have been scaled back in their applications will have the scaled back portion refunded.

15/03/2016

The Board of Navigator Resources Limited wishes to advise that it has extended the closing date of the offer pursuant to the prospectus dated 16 February 2016. This closing date has been now extended to 11 March 2016. This extension has been granted by the Board to facilitate the receipt by the Company of all funds which are expected to be received pursuant to the offer under the Second Placement.

04/03/2016

Navigator Resources Limited ACN 063 366 498 wishes to advise that the ASX has agreed to grant the Company a waiver from ASX Listing Rule 14.7 to the extent necessary to permit the Company to issue securities to related parties to more than one month after shareholders approved the issue of the Related Party Securities at the Extraordinary General Meeting held on 21 January 2016, on the condition that the securities are issued no later than 21 April 2016.

23/02/2016

The company is pleased to advise that ASX has agreed to grant the Company an extension in relation to the automatic removal of long-term suspended entities. The Company will be removed from the official list if it is not reinstated by 20 May 2016.

17/02/2016

The company issues a prospectus for the offer of up to 200,000,000 Shares at an issue price of $0.0025 per First Placement A Share to raise $500,000; the offer of up to 25,000,000 Shares at an issue price of $0.00001 per Share to raise up to $250; and the offer of up to 175,000,000 options for nil consideration; for the offer of up to 150,000,000 Shares at an issue price of $0.01 per share to raise up to $1,500,000; for the offer of up to 50,000,000 Management Options.

16/02/2016

The company lodges its full year statutory accounts for the year ended 30 June 2015.

15/02/2016

The company lodges its half year accounts for the half year ended 31 December 2014.

15/02/2016

The company lodges its full year statutory accounts for the year ended 30 June 2014.

15/02/2016

The company lodges its half year accounts for the half year ended 31 December 2013.

15/02/2016

The company lodges its full year statutory accounts for the year ended 30 June 2013.

15/02/2016

Administrator advises that all conditions precedent to the DOCA executed on 8 September 2015 have now been met. Accordingly the DOCA has been fully effectuated and that he has resigned as Deed Administrator effective 12 February 2016. As the DOCA has been fully effectuated, control of the Company has passed to the newly appointed Board of Directors.

12/02/2016

The deed administrator wishes to announce that the company adopted a new constitution.

22/01/2016

The company releases the results of its 2016 EGM.

21/01/2016

The!Extraordinary!General!Meeting!of!the!Shareholders!to!which!this!Notice!of!Meeting!relates! will!be!at 10:30AM!(AWST) on!21!January!2016 at: Otsana!Capital,!108!Outram Street,!West! Perth,!WA.!

18/12/2015

At a meeting of creditors of the Company held on 11 August 2015, creditors voted in favour of varying the deed of company arrangement to facilitate the recapitalisation proposal submitted by the Proponents. It is anticipated that a general meeting of shareholders will be convened within the next two months for shareholders to consider the recapitalisation proposal.

12/08/2015

completion of the SSA (as varied) occurred on 3 November 2014. Since completion of the SSA, the Deed of Company Arrangement in relation to Navigator Mining has been fully effectuated and control of Navigator Mining has passed to the board of directors nominated by Kin Mining - the Deed Administrator is currently considering the potential recapitalisation of the Company

20/11/2014

administrators advise that Completion of the revised Share Sale Agreement ("˜Revised SSA') with Metaliko Resources Ltd (ASX: MKO) ("˜Metaliko') for the sale of all of the shares of Navigator (Bronzewing) Pty Ltd ("˜Navigator Bronzewing') occurred on 27 June 2014. I confirm that as consideration under the Revised SSA: "¢  the Company received $3M in cash; and "¢  Waterton Global Value L.P. (first ranking secured creditor) received 33,333,333 shares in Metaliko Since Completion of the Revised SSA, the Deed of Company Arrangement in relation to Navigator Bronzewing has been fully effectuated and control of Navigator Bronzewing has passed to the board of directors nominated by Metaliko

01/07/2014

deed administrator advises that on 14 May 2014, the Company executed a revised Share Sale Agreement ("˜Revised SSA') with Metaliko Resources Ltd (ASX: MKO) ("˜Metaliko') for the sale of all of the shares of Navigator (Bronzewing) Pty Ltd

16/05/2014

provides an update on the status of the administration of the Company

09/04/2014

Pursuant to Metaliko's request for a voluntary suspension announcement dated 2 April 2014, Metaliko would like to advise that negotiations with the Administrators of Navigator Resources Ltd regarding the acquisition of the Bronzewing Gold Project have not yet concluded and there is no guarantee that a transaction will occur. Metaliko requests that its securities remain suspended and Metaliko will inform the market as soon as a decision has been reached.

04/04/2014

at the meetings of creditors of the Company and Navigator Bronzewing, held on Friday, 31 January 2014, creditors respectively resolved that the Company and Navigator Bronzewing execute the Varied DOCAs to facilitate the sale of all of the shares held by the Company in Navigator Bronzewing to Metaliko pursuant to the SSA

03/03/2014

Cobra was ultimately unable to satisfy the conditions precedent required and subsequently withdrew from the HoA - the Company executed a Share Sale Agreement ("SSA") with Metaliko Resources Ltd (ASX: MKO) ("Metaliko") on 2 January 2014 for the sale of all of the shares of Navigator Bronzewing

16/01/2014

the Deed Administrator provide an update on the status of the administration since the execution of the Holding DOCA

26/09/2013

Holding DOCAs for each company in the Group were executed today

31/05/2013

creditors resolve in favour of each company in the Group executing a Holding Deed of Company Arrangement

13/05/2013

on Thursday 28 March 2013, the Board of Directors of Navigator Resources Limited ACN 063 366 487 ("the Company") appointed Mr Bryan Hughes of Pitcher Partners Accountants, Auditors & Advisors as Administrator pursuant to Section 436A of the Corporations Act. The Boards of Directors of Navigator (Bronzewing) Pty Ltd ACN 135 597 634 and Navigator Mining Pty Ltd ACN 109 351 564, subsidiaries of the Company, also subsequently appointed Mr Hughes as Administrator on this date - this never augurs well for shareholders - a more detailed information release to the ASX providing indicative timeframes for the Administration process will follow in due course

28/03/2013

releases Half Year Accounts

15/03/2013

we understand that on or about this date the company consolidated its shares 1 for 1000

12/03/2013

provides a funding update

07/03/2013

The securities of Navigator Resources Limited (the "Company") will be suspended from quotation immediately, at the request of the Company, pending the release of an announcement. Security Code: NAV

20/02/2013

The suspension of trading in the securities of Navigator Resources Limited (the "Company") will be lifted immediately, following the lodgement of the Company" replacement prospectus. Security Code: NAV NAVR NAVOB

26/10/2012

releases Full Year Statutory Accounts

28/09/2012

Further to recent media reports, the Company confirms that the indicative non-binding conditional proposal for a potential takeover transaction has been presented by LionGold Corp Ltd (LionGold), a company listed on the Singapore Stock Exchange. Navigator advises that it is currently engaged in preliminary confidential discussions with LionGold regarding this matter. The Board recommends that shareholders take no action until further advised by the Board.

09/08/2012

provides an update on its proposed rights issue and funding

27/07/2012

securities suspended from quotation pending an announcement

24/07/2012

The suspension of trading in the securities of Navigator Resources Limited (the "Company") will be lifted immediately, following receipt of an announcement. Security Code: NAV NAVOB

09/07/2012

Navigator is undertaking an underwritten renounceable pro-rata rights issue on the basis of 7.2 new shares (New Shares) for every one share held by shareholders at the record date to raise approximately $16,000,000 (before costs) at $0.001 per New Share (Offer). The Offer will be undertaken through a prospectus (Prospectus) also released

09/07/2012

provides an update on production at the Bronzewing Gold Project

15/06/2012

Navigator advises that it has signed binding Heads of Agreement with its largest shareholder, Au Mining Limited (Au), whereby Au (either directly or through its affiliates) will provide a short term finance facility to the Company of A$10 million (Finance Facility). This Finance Facility is in addition to the existing debt facility provided by Waterton Global Value LP (Waterton). The first A$3 million of the Finance Facility is available for drawdown (subject to satisfaction of conditions precedent which include, amongst other things, the Waterton debt facility and Gold Supply Agreement being amended in the manner referred to below) and will be used for the continued development of the Bronzewing Gold Project (BGP).

04/06/2012

securities suspended from quotation pending an announcement

29/05/2012

shares reinstated to quotation

08/07/2011

securities suspended from quotation pending an announcement

01/07/2011

securities suspended from quotation pending an announcement

01/07/2011

shares reinstated to quotation

27/06/2011

the securities of Navigator Resources Limited (the "Company") will be suspended from quotation immediately, at the request of the Company, pending the release of an announcement in relation to a capital raising

24/06/2011

shares reinstated to quotation

20/06/2011

we understand that on or about this date the company made an in specie distribution of 1 share in Kimberley Rare Earths Company for every 20 shares in the company

20/06/2011

the securities of Navigator Resources Limited (the "Company") will be suspended from quotation immediately, at the request of the Company, pending the release of an announcement in relation to a capital raising

09/06/2011

shares reinstated to quotation

12/11/2009

securities suspended from quotation pending an announcement

02/11/2009

shares reinstated to quotation

31/07/2009

securities suspended from quotation pending an announcement

29/07/2009

shares reinstated to quotation

14/05/2009

securities suspended from quotation pending an announcement

11/05/2009

shares reinstated to quotation

23/02/2007

shares suspended from quotation pending release of an announcement

22/02/2007

shares reinstated to quotation following the company's advice of a capital raising

12/04/2006

shares suspended from quotation pending an announcement

07/04/2006

 

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Loading comments....  Most recent comments
How can we vote at EGM (26 Jan 2016) ? nn23/12/2015 13:39:27
I did receive some correspondence concerning this matter as set out below without alteration:

Eddie

You invested in a company that went under, it is unfortunately a risk inherent in investing. The holding costs for projects such as Leonora are significant, and this company had no funds to meet those, the reality is that even if it were possible to get $8m for this asset, which it is not, shareholders would still get nothing. I have been doing this a long time, and I am not sure what you are inferring needs scrutinising, but on both a competency and integrity basis I am completely satisfied. I don’t intend getting into any further debate with you on this.


regards


Bryan Hughes | Managing Director 

Pitcher Partners
ACCOUNTANTS AUDITORS & ADVISORS

Level 1, 914 Hay Street, Perth WA 6000 | www.pitcher.com.au 
T: 08 9322 2022 | F: 08 9322 1262 | E: hughesb@pitcher-wa.com.au

From: eddierobinson [mailto:eddierobinson@iinet.net.au] 
Sent: Friday, 6 June 2014 4:03 PM
To: Bryan Hughes
Subject: RE: Sell out


Dear Brian. So you are essentially saying that the company has undergone a CR and restructure whilst insolvent and the independent expert engaged by KIN who gave a valuation of $8 million+ leaving a gap of approximately $5 million is a good outcome for shareholders and does not warrant scrutiny? 




Sent from Samsung Mobile


-------- Original message --------
From: Bryan Hughes
Date:06/06/2014 5:40 PM (GMT+10:00)
Cc: Renee O'Driscoll
Subject: RE: Sell out


Dear Eddie

I refer to your email below.

I assure you that I take my statutory responsibilities as an external administrator seriously and I have accordingly undertaken a comprehensive marketing and sale campaign to ensure the opportunity to acquire the Leonora Gold Project has been widely circulated across a wide range of prospective buyers to achieve market value.

The Navigator Group had a substantial debt to creditors upon my appointment, and the timing of my appointment coincided with a material downward movement in the price of gold which heavily impacted on investor sentiment in relation to this commodity, as well as the most difficult capital market in some decades. Accordingly, any interest in Navigator assets has been at a substantially lower value than could have reasonably been expected to have been achieved some 18 to 24 months ago. I have held and maintained these assets for some 14 months to achieve the best possible outcome and unfortunately in these circumstances the offer presented by Kin Mining is by far the best proposition for the Group. The cost of maintaining the assets has been met by the secured creditor to ensure all possible alternatives were properly explored. These costs are expensive and not sustainable ongoing in these circumstances. I also note there is a substantial shortfall to creditors, including the secured creditor, all of who rank ahead of shareholders.

There is still a possibility that I may be able to restructure and/or recapitalise Navigator Resources Ltd (Subject to Deed of Company Arrangement) in which case some value may be preserved for shareholders. Once the shares in this company’s subsidiaries have been sold, I will be in a position to progress this proposition in due course.

Bryan


Bryan Hughes | Managing Director

Pitcher Partners
ACCOUNTANTS AUDITORS & ADVISORS

Level 1, 914 Hay Street, Perth WA 6000 | www.pitcher.com.au
T: 08 9322 2022 | F: 08 9322 1262 | M: 0407 990 968 E: hughesb@pitcher-wa.com.au
30/10/2014 13:14:10

Can't express enough my disappointment in the direction this company has gone. My fault for believing l guess. What a waste of good hard earned dollars, yes that's right, some money is hard earned.

21/07/2014 23:03:06
how many shares taken off after the consolidation,cause I had quiet a lot of shares and finish with zero shares.13/07/2014 11:10:48
when can shareholders claim these shares as a tax loss.04/07/2013 11:44:02
nice to get shareholders money again after the most recent capital raising at .001c,then do a share consolidation  and still finish at .001c then  into administration..... where did the  $ go from the capital raising?17/04/2013 19:17:53

When is this company going to be delisted.

It must be trading while insolvent.

15/01/2013 20:32:49

Company Updates

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    Click here for free access to this company's:
    ASX, Legal & CGT Status

    Directors' on-market share transactions (last 5)

     

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    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Grant DearloveExecutive Chairman30/05/2019
    Allan TrenchNon Exec Chairman14/11/2005
    Edward FinnManaging Director, CEO30/05/2019
    Padraig O'DonoghueCFO13/08/2012
    Glen DobbieDirector12/02/2016

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Joshua McKeanDirector12/02/201630/05/2019
    Malcolm KeefeDirector12/02/201630/05/2019
    Greg RuddockDirector12/02/201630/05/2019
    Andy TudorManaging Director, CEO23/07/201212/02/2016
    Guy WalkerNon Exec Director17/02/201212/02/2016
    Ian MacphersonNon Exec Director13/03/200314/01/2013
    John ShippNon Exec Director07/08/200628/11/2012
    Gerry KaczmarekCFO11/06/200931/07/2012
    David HatchManaging Director25/05/200905/06/2012

    Date of first appointment, title may have changed.