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WHITE ENERGY COMPANY LIMITED (WEC)

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ASX, Legal & CGT Status

Former (or subsequent) names

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Our website ranking of WEC: rating 4
(4 out of 5)
COMPANY WEBSITE:

 

REGISTRY:

Automic Group
Level 5, 191 ST GEORGES TERRACE PERTH WA 6000
Tel : +61 (2) 8072 1400 or 1300 288 664 (within Australia)
RegistryWebsite RegistryEmail

Company details

ISIN: AU000000WEC5
Address: Level 5 126 Phillip Street Sydney NSW 2000 Australia
Tel:  (612) 9959 0000Fax: (612) 9959 0099 

Date first listed: 23/07/1999

Sector: Energy Industry Group: XEJ
Activities: Commercialisation of coal technologies.

News & Events

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The suspension of trading in the securities of White Energy Company Limited will be lifted immediately following the release by WEC of an announcement regarding an update on the judgement released on 23 October 2023.

25/10/2023

On 23 October 2023, the Court delivered its judgement in relation to the appeal of the SICC's costs determination. Whilst the Court allowed the appeal, it did not agree with the Appellants' argument that BCBCS be awarded costs up to the late stage of the proceedings at which Bayan first raised the narrow point of causation which ultimately prevented BCBCBS from recovering any damages. The Court found that the discount of 40% awarded to the Respondents was insufficient and instead awarded a greater discount of 70%. The Court also held that BCBC should not be jointly and severally liable for costs. The Company is disappointed with the outcome of the appeal and that Bayan has not been held to account for its blatant breaches of contract and that BCBCS has not been properly compensated for such breaches. The directors of BCBCS have yesterday resolved to appoint KPMG Singapore as the provisional liquidator to BCBCS. BCBCS estimates it has assets of approximately SGD1.7 million and unsecured liabilities of approximately SGD160.4 million. The intercompany loan from BCBC to BCBCS represents approximately SGD157 million, with the unsecured liability to Bayan as a result of the judgement being approximately SGD3.35 million. In regards to the proceedings in Western Australia, the Court has ordered that special costs be awarded to Bayan from BCBCS, with the quantum to be determined by taxation if not agreed. The intercompany loan from BCBC to BCBCS is fully eliminated on consolidation and therefore there would be no impact from any further write down of the loan on the financial results of the WEC group resulting from the liquidation.

25/10/2023

The securities of White Energy Company Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of WEC, pending the release of an announcement regarding an update on the judgement released on 23 October 2023.

25/10/2023

The Australian Shareholders Association opposes the ongoing chairmanship of Travers Duncan: the White Energy chairman has been adversely named by ICAC in relation to the Mt Penny coal tenement and ASA will be opposing his re-election at the AGM in Sydney on November 22.

03/11/2013

the suspension of trading in the securities of White Energy Company Limited (the "Company") will be lifted immediately, following the Company's announcement regarding its Tabang operations

09/11/2011

the securities of White Energy Company Limited (the "Company") will be suspended from quotation immediately, at the request of the Company, pending the release of an announcement regarding its Tabang operations

08/11/2011

the suspension of trading in the securities of White Energy Company Limited (the "Company") will be lifted immediately following receipt of an announcement by the Company

11/11/2009

the securities will be suspended from quotation pending the release of an announcement

10/11/2009

shares reinstated to quotation

06/07/2006

name changed from Amerod Resources Limited

03/07/2006

 

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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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    Purchases Sales

    DATEDIRECTORNUMBERPRICEAMOUNT
    19/12/2023Gregory Whitehouse198,846$0.040$7,954
    28/06/2018Travers Duncan6,850,375$0.030$205,511
    28/06/2018Brian Flannery6,850,375$0.030$205,511
    01/04/2016Travers Duncan498,215$0.100$49,822
    21/03/2016Travers Duncan587,103$0.088$51,731

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Brian FlanneryNon Exec Chairman17/09/2010
    Greg SheahanCEO30/10/2023
    Allan McCarthyCFO28/08/2017
    Vince O'RourkeIndependent Director29/09/2010
    Mike ChapmanIndependent Director01/06/2023
    Gregory WhitehouseNon Exec Director14/12/2022
    Gregory WhitehouseDirector12/12/2022
    David FranksCompany Secretary

    Date of first appointment, title may have changed.

    SPECIAL NOTE: During May 2024 we are working to remove duplications in the Company Secretary role.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Graham CubbinChairman17/02/201020/03/2023
    Travers DuncanNon Exec Director24/06/200817/12/2021
    Terry CrawfordIndependent Director11/06/201328/02/2019
    Damian GalvinCFO23/05/201631/08/2017
    Ivan MarasCFO01/04/200831/03/2016
    Hans MendeIndependent Director17/09/201031/03/2016
    John KinghornIndependent Director17/09/201005/08/2013
    John McGuiganNon Exec Chairman07/03/200005/08/2011
    John AtkinsonManaging Director15/02/199905/08/2011
    Ilyas KhanNon Exec Director11/09/199817/02/2010
    Lawrence MaltzNon Exec Director31/05/200112/07/2002
    Mico ChungNon Exec Director19/06/200012/07/2002
    Timothy MainprizeNon Exec Director04/04/200125/01/2002
    John GreavesNon Exec Director14/02/2001

    Date of first appointment, title may have changed.