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McAleese Ltd (MCS.AX)

MCS.AX on Australia Stock Exchange

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Latest Key Developments (Source: Significant Developments)

McAleese appoints voluntary administrators
Sunday, 28 Aug 2016 06:54pm EDT 

McAleese Ltd : Appointment of voluntary administrators . Voluntary administrators appointed to oversee affairs of company and of those companies listed in the attached schedule . Joseph David Hayes, Jason Preston, William James Harris and Keith Alexander Crawford of McGrath Nicol appointed administrators . Mcaleese's uncompromised senior debt and all accrued interest was immediately due and payable . McAleese is now in voluntary administration and shareholders are highly unlikely to receive any value for their existing shares . TTPH condition was not satisfied and failure to meet that condition was not waived by sc lowy consortium . Understands that SC Lowy consortium and Rowsthorn interests will continue to seek to implement an alternative transaction .SC Lowy Consortium declined to enter into any new forbearance arrangement.  Full Article

McAleese says John Russell has resigned as CFO
Sunday, 31 Jul 2016 07:43pm EDT 

McAleese Ltd : Resignation of group chief financial officer .John Russell has resigned as CFO.  Full Article

McAleese Ltd updates on recapitalisation
Tuesday, 19 Jul 2016 07:42pm EDT 

McAleese Ltd : If approved by shareholders, the recapitalisation will reduce the senior debt of McAleese by approximately $80 million . Acquisition of the company's senior debt by a consortium led by sc lowy primary investments has now occurred . FY 2016 EBITDA before individually significant items is expected to be $14 - $15 million on revenue of approximately $560 million . Unaudited gross and net debt at 30 June 2016 were $191 million and $174 million respectively . Senior debt acquisition expected to relieve some of the pressure on the company's businesses .  Full Article

Australian Government Takeovers Panel says McAleese panel declines to conduct proceedings
Monday, 18 Jul 2016 07:45pm EDT 

Australian Government Takeovers Panel: McAleese Limited panel declines to conduct proceedings . Declined to conduct proceedings on an application dated 15 July 2016 from Havenfresh Pty Ltd . Panel concluded there was no reasonable prospect that it would make a declaration of unacceptable circumstances .Application concerned the proposed recapitalisation of McAleese announced on 7 June 2016.  Full Article

Australian Government Takeovers Panel updates on application concerning proposed recapitalisation of Mcaleese
Sunday, 17 Jul 2016 09:48pm EDT 

Australian Government Takeovers Panel: australian government takeovers panel says panel has received an application from havenfresh pty ltd in relation to affairs of mcaleese limited . mcaleese limited panel receives application . application concerns the proposed recapitalisation of mcaleese . "a sitting panel has not been appointed at this stage and no decision has been made whether to conduct proceedings" . "the panel makes no comment on the merits of the application" .  Full Article

McAleese Updates on strategic process and voluntary suspension
Tuesday, 31 May 2016 10:59pm EDT 

McAleese Ltd : Advised that because of internal arrangements of sc lowy consortium, consortium members are not yet in position to execute heads of agreement . Says "there remains no certainty that the heads of agreement will become binding" .  Full Article

McAleese ltd updates on strategic process and voluntary suspension
Sunday, 8 May 2016 06:35pm EDT 

McAleese Ltd : Update on strategic process and voluntary suspension . Says negotiations between the company, its financiers and a consortium led by Sc Lowy (Sc Lowy) are continuing positively . Says execution of a binding heads of agreement is now expected to occur by Friday, 13 may 2016 . Says company expects its voluntary suspension to remain in place until Monday, 16 may 2016 .  Full Article

McAleese Ltd confirms FY 2015 EBITDA guidance
Thursday, 14 May 2015 08:55pm EDT 

McAleese Ltd:Confirms that FY 2015 trading EBITDA is still expected to about $70 million.  Full Article

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