Sponsored

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

May 19, 2025 02:04 PM AEST | By Aditi Sarkar
 Mount Burgess (ASX: MTB) Seeks Court Orders on Past Share Issues, Welcomes New Chairman
Image source: Company update

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:

  1. Extend the timeframe for lodging certain cleansing notices;
  2. Validate prior share sales made without (valid) cleansing notices; and
  3. 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.

 

 


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.


AU_advertise

Advertise your brand on Kalkine Media

Sponsored Articles


Investing Ideas

Previous Next
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.