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PARINGA RESOURCES LIMITED (PNL)

Suspended from ASX

SHARE PRICES

Former (or subsequent) names

 

Shareholder links

Our website ranking of PNL: rating 5
(5 out of 5)
COMPANY WEBSITE:

 

REGISTRY:

Computershare, Level 11, 172 St Georges Terrace, Perth WA 6000

Tel : +61 (0)3 9415 4000 or 1300 850 505 (within Australia)
Fax : +61 3 9473 2500
RegistryWebsite RegistryEmail

Company details

ISIN: AU000000PNL1
Address: Level 9, BGC Centre 28 The Esplanade PERTH WA 6000
Tel:  +61 8 9322 6322 Fax: +61 8 9322 6558

Date first listed: 20/12/2012
Company Secretary: Mr Gregory Swan
Sector: Energy Industry Group: XEJ
Activities: Exploration of gold, copper and other base metals and strategic minerals in Brazil

The company lodges its June 2020 Quarterly Report (revised).

31/07/2020

The company lodges its June 2020 Quarterly Report.

27/07/2020

TGF to impair credit exposure to the Paringa Group. Based on the update provided by PWP to the Agent, TGF's conclusion is that there are reasons to believe there is some market interest in the Paringa assets but that it may take some time for any such interest to be formalised. Following the update received from the Agent, the Investment Manager is of the view that the current valuation of at or close to par for the loans to Hartshorne is no longer appropriate. The Board has considered the Investment Manager's recommendation and accepted its logic, and the decision to impair the Paringa Loan exposure to the extent decided is consistent with that recommendation. The Board is hopeful that the early indications of further interest in the security assets will continue to firm, but the Board has determined that it is appropriate to revalue this exposure based on current facts rather than future hopes and expectations.

09/06/2020

The company lodges its March 2020 Quarterly Report.

30/04/2020

The company has received a notice from the staff of the Nasdaq Listing Qualifications Department of The Nasdaq Stock Market notifying the company that, as a result of its subsidiary, Hartshorne Mining Group, LLC, filing for protection under Chapter 11 of the U.S. Bankruptcy Code, and in accordance with Nasdaq Listing Rule 5101, the Staff have determined that the company will be delisted from Nasdaq. The company's American Depositary Shares will be suspended at the opening of business on 5 March 2020,

28/02/2020

The company releases the Results of Meeting.

21/02/2020

The company's subsidiary, Hartshorne Mining Group, LLC and its U.S. affiliates, has today announced in the U.S. that, to facilitate a value-maximizing sale of its operating Poplar Grove coal mine, undeveloped Cypress coal project and other business assets, it filed voluntary Chapter 11 petitions in the United States Bankruptcy Court for the Western District of Kentucky. Hartshorne intends to continue mining operations during the bankruptcy and sale process, after transitioning from two mining units to one mining unit.

21/02/2020

The company will adjourn its general meeting of shareholders that was due to take place on 20 February 2020. The meeting will be adjourned until 4:00pm WST on 21 February 2020.

19/02/2020

The company requests that the voluntary suspension remain until the earlier of an announcement to the market regarding the discussions with the company's lenders or the opening of trade on ASX on Tuesday 25 February 2020.

11/02/2020

The company lodges its December 2019 Quarterly Report.

03/02/2020

The company requests that the voluntary suspension be extended until the earlier of an announcement to the market regarding the discussions with the company's lenders or the opening of trade on 11 February 2020.

28/01/2020

The company will adjourn its general meeting of shareholders that was due to take place on 23 January 2020. The meeting will be adjourned until 10:00am on Thursday, 20 February 2020.

22/01/2020

The company requests that the voluntary suspension of its securities remain until the earlier of an announcement regarding the discussions with the company's lenders or the opening of trade on 28 January 2020.

13/01/2020

Hartshorne Mining Group has retained FTI Consulting to perform a review of Hartshorne's near-term financial outlook and operational performance, including an assessment of additional financing required for operational needs. Hartshorne has decided to defer payment of the December 31, 2019 quarterly interest and fees required under its term loan facility, totalling approximately US$1.5 million. This deferral has triggered an event of default under the term loan facility which gives Tribeca the right to demand immediate full repayment of the term loan facility. Tribeca has issued a letter to Hartshorne and the company that notifies the existence of the event of default and reserving its rights in respect of such default. Mining operations have recommenced following the scheduled Christmas and New Year break and the company and FTI will continue to work closely with Hartshorne's lenders, employees, customers, and suppliers to optimise value for all stakeholders.

08/01/2020

The securities of Paringa Resources Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of PNL, pending the release of an announcement regarding an update on discussions with the Company's lenders.

27/12/2019

The suspension of trading in the securities of Paringa Resources Limited will be lifted immediately, following the release by PNL of an announcement regarding the outcome of the retail component entitlement offer and a replacement entitlement offer.

21/10/2019

The company has canceled the retail component of its 1 for 4 pro rata accelerated non-renounceable entitlement offer at an issue price of A$0.07 per share and will now undertake a new re-priced fully underwritten 1 for 5 non-renounceable entitlement offer to raise approximately A$5.1 million before costs. Under the new offer, shareholders will be entitled to acquire 1 new share for every 5 shares held at the record date of 25 October 2019 at an issue price of A$0.05 per new ordinary share. The new offer is fully underwritten by Argonaut Capital.

21/10/2019

The company requests that the voluntary suspension of its securities remain until the earlier of an announcement to the market regarding the replacement entitlement offer or the opening of trade on 21 October 2019.

18/10/2019

The securities of Paringa Resources Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of PNL, pending the release of an announcement regarding a capital raising.

17/10/2019

listed entity carried for record purposes only

20/12/2012

ASX Announcements (courtesy of ASX)

 

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    Directors' on-market share transactions (last 5)

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    Purchases Sales

    DATEDIRECTORNUMBERPRICEAMOUNT
    12/10/2017Ian Middlemas1,319,231$0.350$461,731
    14/12/2016Todd Hannigan257,478$0.465$119,791
    01/08/2016Taso Arima-1,800,000$0.200$360,000
    29/07/2016Todd Hannigan1,500,000$0.170$255,000
    29/07/2016Jonathan Hjelte319,000$0.175$55,825

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Ian MiddlemasNon Exec Chairman16/10/2013
    Todd HanniganDeputy Chairman, CEO15/05/2014
    Tom ToddNon Exec Director15/05/2014
    Jonathan HjelteNon Exec Director11/01/2016
    Rick McCormickNon Exec Director11/08/2016
    Taso ArimaExecutive Director16/10/2013
    David GayExecutive Director07/01/2014

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Egan AntillManaging Director, CEO12/12/201831/03/2020
    Grant QuashaManaging Director, CEO19/06/201718/06/2018
    David GriffithsNon Exec Director07/09/201211/08/2016
    David ChapmanExecutive Director07/09/201211/01/2016
    Luis AzevedoNon Exec Director07/09/201216/10/2013
    Jonathan KingDirector07/09/201208/03/2013

    Date of first appointment, title may have changed.