GREEN PACIFIC ENERGY LIMITED(GPE)

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.

delisted following receipt of advice from the abovementioned company of the suspension and removal from official quotation on 20 August 2010 pursuant to listing rule 17.12

we understand ASX delisted this company under listing rule 17.12 (removal not at the entity's request) because the entity was unable or unwilling to comply with a listing rule or it has no quoted securities or is appropriate for some other reason - the directors of this company have not made a substantive release to the market for years demonstrating an utter disregard for the company's shareholders

Alfred Wong, William Lamont and Danny Au Yeung have apparently resigned but why have the new directors not communicated with the market? - this company is still listed

this company is no longer in administration - these are the directors according to the ASX website: Alfred Wong, William Lamont and Danny Au Yeung, Edwin Yeung is the Secretary - the company is still listed on ASX and they could inform their shareholders and the market of developments via a market announcement - when are they going to do so?

it is expected that all outstanding matters will be finalised in late February - at that time ASIC will be notified that the DOCA has been wholly effectuated - in accordance with the terms of the DOCA, the company will revert to the control of the new directors

a first and final dividend of 82 cents in the dollar is paid to creditors

the winding up of the company is terminated - it remains subject to a Deed of Company Arrangement

the resolutions considered at the meeting on 15 October were passed

we understand that on or about this date the company consolidated its shares 1 for 15

a General Meeting is to be held on Monday, 15 October 2007 at 3.00pm (EST) at PricewaterhouseCoopers Level 10, 201 Sussex Street, Sydney, NSW 2000 - the meeting is called to consider reconstruction and recapitalisation proposals

apparently the company has appointed a deed administrator and entered into a deed of company arrangement

the Liquidator has been liaising with the directors and other parties interested in proposing a deed of company arrangement with the possibility of a resurrection of the business and a return to shareholders - a proposal has been submitted to the Liquidator and terms are being negotiated - a report to creditors should be issued in late February 2007

the Liquidator has conducted an investigation to determine whether there are avenues for recoveries for creditors and shareholders - a formal report, which is confidential, on the outcome of the investigation will be submitted to ASIC in January 2007

ASIC was successful in seeking to wind up the company on the grounds of insolvency - this follows allegations that CEO Alfred Chi Wai Wong had acted in his own interests and in particular used $4.8 million, out of $6.3 million invested in GPE by JF Capital Partners Ltd for the repayment of debts owed to companies related to Mr Wong (done without the knowledge or approval of the GPE Board of Directors) and also promoted promissory notes in GPE at public seminars and the issue of these promissory notes to members of the public, under the direction of Mr Wong, to raise capital for the company, when the Board of Directors had clearly resolved not to issue any promissory notes to the public until GPE had a firm business strategy in place

pursuant to the orders made by the Federal Court on 20 September 2006, Mr Gregory Winfield Hall of Price Waterhouse Cooper has been appointed as liquidator of Green Pacific Energy Limited and Green Pacific Energy Capital Pty Ltd

the Judge has just informed the company's solicitor that he will not be in a position to deliver judgment on Monday 4 September 2006 although the judgment will be delivered during the course of next week

advises that the Court has now informed their solicitor that this matter (see note immediately below) had been listed for judgement at 9:30am on Monday 4 September 2006

advises that the court decision (see note immediately below) will be handed down some time in the week commencing Monday 28 August 2006

in relation to the ASIC's application to wind up Green Pacific Energy Limited (GPE) and Green Pacific Energy Capital Pty Limited (GPEC) on the just and equitable ground and on the grounds of insolvency, the Court hearing on this application was conducted on 31 July 2006, 1, 2 and 3 August 2006 - the company has just been informed that decision will be handed down some time in the week commencing Monday 21 August 2006

cash flow for the quarter ended 30 June 2006 reflects a deficit at operating level of $1,566k

in relation to the proposed sale of Green Pacific Energy Limited's (GPE) shares in Green Pacific Energy Staplyton No.1 Pty Limited (GPES1) to BMI Group Pty Limited (BMI) or its nominee, the Board of GPE advises that the sale is now completed - BMI now owns the 5MW power plant at Staplyton (through its ownership of GPES1) and is now responsible for all future liabilities of GPES1

in relation to the ASIC's originating application to wind up Green Pacific Energy Limited (GPE) and Green Pacific Energy Stapylton No. 1 Pty Limited (GPES1) on the grounds of insolvency, the Court directed this application be set down for hearing on 31 July 2006 and 1 and 2 August 2006

company advises in relation to the ASIC's originating application to wind up Green Pacific Energy Limited and Green Pacific Energy Stapylton No. 1 Pty Limited on the grounds of insolvency, that it has now been informed that a preliminary hearing of these winding up proceedings has been re-listed to Friday 23 June 2006

company advises the TechComm debt has been bought by Richland Investment (Australia) Pty Ltd ("Richland") - Richland has agreed to release GPES1 from any liability in respect of the TechComm debt

the board responded to ASIC on Friday 19 May 2006 and supplied ASIC with a report from Hall Chadwick Corporate supporting the Directors' belief that GPE is in a position to pay its debts as and when they fall due - in preparing this report, Hall Chadwick Corporate had relied on certain undertakings which the Directors confirmed are continuing or in the process of occurring - GPE has not yet received a decision from ASIC on whether it proposes to apply to wind up the Company notwithstanding this information - the company proposes to seek to have its shares requoted on the ASX as soon as possible, if ASIC indicates in the immediate future that it not going to proceed with such an action at this time

board advises that the company responded to ASIC on Friday 19 May 2006 after engaging the auditor to review GPE's financial situation - GPE also supplied ASIC with further information requested on Tuesday 23 May 2006 and is currently waiting for ASIC's reply on this issue

the company was suspended from official quotation as a result of ASIC expressing a concern on the solvency of GPE and its controlled entities - ASIC has given the directors of GPE up to Friday 19 May 2006 to respond to its concern - the directors will try to resolve this issue as soon as possible and make further announcement in due course

shares suspended from quotation pendng clarification of the company's financial position

suspension of trading in the company's securities will be lifted before the commencement of trading on Monday, 17 October 2005, following lodgement of the Company's financial report for the year ended 30 June 2005 (the "Financial Report") and receipt of the Company's response to a query from ASX in relation to the qualified audit opinion of the Financial Report

lodges annual report

shares suspended from quotation following failure to lodge Full Year Accounts for the period ended 30 June 2005

ASIC commences criminal proceedings in the Downing Centre Local Court in Sydney against Mr James Kwok (also known as Mr James Kardi and Mr Herman Kardi) - ASIC alleges Mr Kwok acted dishonestly whilst a director of Envirostar Energy Limited (Envirostar) by not disclosing his interest in two parcels of land that Envirostar leased - the leases commenced in mid-2000 - Mr Kwok tendered his resignation from the Envirostar board in August 2002 and it was at this time that his interests in the land parcels were discovered

shares reinstated to quotation

company advises Australia's first Green Waste to Energy power plant was today fired up at Stapylton, between Brisbane and the Gold Coast - also informs shareholders the company "will shortly re-quote for trading on the Australian Share Market"

no word, in the chairman's address, of any efforts the company may be making to regain quotation

AGM called for 28 Nov

announces drawdown of its loan facility to partially finance the Stapylton 5MW power plant

company advises it is finalising audited financial statements and related matters in order to regain quotation

deed of company arrangement fully effectuated

this company is still under a Deed of Company Arrangement - Great Pacific Finance evidently injected funds to meet DOCA obligations and has essentially taken the company over - the funds are currently being distributed to creditors - it would appear the DOCA will be fully effectuated shortly although the deed administrator (Knights Insolvency) would not say when - presumably the company will seek requotation at that time

GPE is the result of a restructure of the listed renewable energy company, EnviroStar Energy Ltd (EEL) - EEL was suspended from trading for restructuring proposes in October 2002 - Great Pacific Financial Group formed a consortium to take a majority shareholding in EEL - the restructured company was renamed Green Pacific Energy (GPE) and granted the ASX code GPE in May 2003

name changed from Envirostar Energy Limited

shares reinstated to quotation

Not delisted - announcements available at www.asx.com.au - shares suspended from quotation