AEON METALS LIMITED.(AML)

delisted at entity's request under Listing Rule 17.11

we understand all shares in Aeon Metals have been transferred to OL Master Limited for NIL consideration - in our view that transfer is a Capital Gains Tax Event and the capital loss is thus crystallised

The Deed Administrators have transferred all shares in Aeon Metals to OCP or its nominee, following the Section 444GA Order and DOCA, which was completed on 23 April 2025.

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.

The Court heard the Section 444GA Application, ordering the Deed Administrators to transfer all shares in Aeon Metals from current shareholders to OCP or its nominee. The transfer will occur after satisfying all conditions precedent to the Debtor's Accountability and Control Agreement, removing existing directors and officers, and terminating the DOCA.

The company releases a circular to shareholders where it states that Section 444GA Application was listed before Justice Black in court, with a final hearing scheduled for 17 March 2025, potentially vacated if contested.

The company releases a supplementary circular to shareholders. The circular discusses the Deed of Company Arrangement proposed by OL Master Limited, the circular to Aeon Metals creditors and shareholders, and the Section 444GA Application. It also mentions the hearing date for the application, which can be accessed through the Supreme Court of New South Wales.

The company releases a circular to shareholders and explanatory statement. The DOCA aims to restructure Aeon Metals, including transferring all shares to OCP. A directions hearing will be held on 24 February 2025, and the final hearing is expected in early to mid-March 2025. Shareholders, creditors, and the Australian Securities and Investment Commission can object to the Section 444GA Application.

The entities suspended for over three months failed periodic reports, the oldest outstanding report deadline, and their 2 year deadline for trading plans. If not met, they will be removed from the official list, usually after the first trading day.

The company has executed the DOCA and appointed Benjamin Campbell, Vaughan Strawbridge, and Kathryn Evans as Deed Administrators. The DOCA was executed on 19 December 2024 and will be lodged with ASIC. To complete the DOCA, the Deed Administrators must obtain a court order granting leave to transfer all shares to the DOCA Proponent or its nominee. An Explanatory Statement will be issued to shareholders in the near future.

The Administrators believe it's in creditors' interests for the Group to execute proposed DOCAs, subject to certain conditions. The report is available for download on the FTI Consulting Creditors Portal. The Second Meetings of Creditors will vote on the Group's future.

The Company is deferring its financial reporting obligations under Part 2M.3 of the Act, allowing compliance for six to 24 months. The relief will extend to 24 months if Administration extends beyond January 2025.

Under Listing Rule 17.6, an entity (if not already suspended) that had not paid its annual listing fees by close of business on Wednesday, 21 August 2024 would have its securities suspended from Official Quotation before the commencement of trading on Thursday, 22 August 2024. The Company has failed to pay to ASX the annual listing fees for the year ending 30 June 2025, and each entity's securities are already suspended from quotation.

The first concurrent meeting of creditors of the Group was held on Tuesday 6 August 2024. No resolutions were passed at the meeting and the minutes of the meeting have been lodged with the Australian Securities and Investments Commission. A sale of business process has commenced for the Group. Following an application by the Administrators, orders were obtained from the Supreme Court of New South Wales on 16 August 2024 to: extend the period of time in which the Administrators are required to hold the second meeting of creditors to Friday 22 November 2024; and limit the personal liability of the Administrators in respect to a funding agreement entered into by the Administrators.

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 securities of Aeon Metals Limited will be suspended from quotation immediately under Listing Rule 17.3, following the announcement on 26 July 2024 of the appointment of voluntary administrators of AML and its subsidiaries set out in the schedule of the announcement. ASX has determined that AML's financial condition is not adequate to warrant the continued quotation of its securities and therefore does not comply with Listing Rule 12.2. The securities will remain suspended until such time that ASX is satisfied with AML's compliance with the Listing Rules, including Listing Rule 12.2 and that it is otherwise appropriate for AML's securities to be reinstated to quotation

Ben Campbell, Kathryn Evans and Vaughan Strawbridge of FTI Consulting were appointed Joint and Several Voluntary Administrators of Aeon Metals Limited.

company ticker changed from AQR