Mount Burgess (ASX: MTB) Seeks Court Orders on Past Share Issues, Welcomes New Chairman

May 19, 2025 02:04 PM AEST | By Aditi Sarkar

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Mount Burgess (ASX: MTB) Seeks Court Orders on Past Share Issues, Welcomes New Chairman — Image source: Company update

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Highlights

Mount Burgess has lodged a court application seeking validation of past share sales.

Remedial orders aim to extend cleansing notice deadlines and limit seller liability.

The company has appointed Dr. Steve Lennon as Executive Chairman and Director.

Lennon brings extensive international experience across the energy and resource sectors.

Mount Burgess Mining NL (ASX:MTB) has confirmed it has lodged an application with the Supreme Court of Western Australia under section 1322 of the Corporations Act 2001 (Cth). The hearing is scheduled for Monday, 19 May 2025, not before 4:30 PM (AWST), at the David Malcolm Justice Centre, 28 Barrack Street, Perth.

The company seeks remedial orders which, if granted, would:

Extend the timeframe for lodging certain cleansing notices;
Validate prior share sales made without (valid) cleansing notices; and
Relieve certain sellers from civil liability associated with those transactions.

Mount Burgess advises that shareholders and any other affected parties may have the right to appear and be heard during the court proceedings.

Leadership Update

Last week, Mount Burgess announced the appointment of Dr. Steve Lennon as Executive Chairman and Director, effective immediately. Dr. Lennon brings extensive international experience in the energy and resource sectors.

Dr. Lennon holds a BSc in Chemistry, along with an MSc and PhD in Metallurgical Engineering. He has held senior leadership roles across power, gas, aboriginal commercial enterprises, and both public and private sector advisory. He is also an experienced Independent Director and Chairman, with deep expertise in governance, audit and risk, investment, strategy, ESG, and performance oversight.

This appointment follows the resignation of Mr. Nigel Forrester as Chairman and Managing Director due to ill health. The board expressed its sincere gratitude to Mr. Forrester for his dedicated service and extended its best wishes for a full recovery.

Shares of MTB last traded at AUD 0.002 on 12 May 2025.

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