Emu NL [2025] ATP 11 (16 April 2025)

[3] Farris also acquired a further 200,000 Emu shares on 3 January 2025

[4] Unless otherwise indicated, all statutory references are to the Corporations Act 2001 (Cth) and all terms used in Chapter 6, 6A or 6C have the meaning given in the relevant Chapter (as modified by ASIC)

[5] The solicitors for the Requisitioning Shareholders subsequently sent Emu a letter contending that the postponement of the meeting was unlawful and threatening legal proceedings against Emu. We were informed by Emu that as at the date of the application no such proceedings had been commenced. Emu subsequently further postponed the Requisition Meeting and it is currently scheduled for 14 May 2025. We make no comment on the validity of Emu's postponements of the Requisition Meeting

[6] Based on 193,601,409 total shares on issue

[7] See the Panel's Procedural Guidelines at 5.4(e)

[8] Rule 9(1) of the Panel's Procedural Rules

[9] See the definition of this term in rule 5 of the Panel's Procedural Rules

[10] In addition, we note that out of process submissions were made by Mr Grewar, Mr Dawes and Emu which we decided to receive

[11] As set out in the final page of this document

[12] Emu submitted that before making this discovery, it had "little to no reason to suspect (and did not suspect) that Grewar, with entities associated with either Dawes, Wills or McPherson [sic] had been attempting to marshal voting power in such a way so as to remove the majority of the incumbent board"

[13] A copy of the discussion paper was not included

[14] See section 657C

[15] Citing Austral Coal Limited 03 [2005] ATP 14 at [19]

[16] Mr Grewar supplied emails dated 14 September 2022 which were consistent with this submission

[18] Aguia Resources Limited [2019] ATP 13 at [24(b)] citing Mount Gibson Iron Limited [2008] ATP 4 at [15]

[19] Aguia Resources Limited [2019] ATP 13 at [24(b)] citing Auris Minerals Limited [2018] ATP 7 at [20]

[20] Orion Telecommunications Ltd [2006] ATP 23 at [111]; Global Lithium Resources Limited 02R [2025] ATP 4 at [51]

[21] See paragraphs 16(d)(ii), 21(b), 22(b) and footnote 12

[22] See Aurora Absolute Return Fund [2019] ATP 14 at [49]-[50]

[23] See paragraph 25

[24] See Table 1 of ASIC Regulatory Guide 128: Collective action by investors

[25] See paragraph 22(b)

[26] ASIC Regulatory Guide 128: Collective action by investors, page 15

[27] See paragraph 23

[29] See paragraph 32