FE INVESTMENTS GROUP LIMITED (ASX.FEI)

The company has been deregistered as of 21/08/2024

The person or personnel who were appointed Liquidator or Provisional Liquidator of the company's assets have resigned or been removed.

ASIC is advised that the liquidator has completed the creditors' voluntary winding-up process.

a loss declaration has been issued and the capital loss can therefore be claimed in the financial year the declaration is issued (this declaration was issued on 16 December 2021)

Alison Walker of Walker Advisory & Capital Solutions Pty Ltd appointed liquidator

delisted following failure to pay the annual ASX listing fees per Listing Rule 17.15

we understand the company failed to pay to ASX Limited the annual listing fees for the year ending 30 June 2022

The company has failed to pay to ASX Limited the annual listing fees for the year ending 30 June 2022, and the entity's securities are already suspended from quotation.

The administrator has received six expressions of interest from parties seeking further information about the Company and its subsidiaries' affairs. Each party has indicated that it is undertaking due diligence to assess the opportunity to recapitalise the Company's balance sheet. The second meeting of the Company's creditors held on Tuesday 13 July 2021, was adjourned by resolution to allow the administrators more time to investigate the possibility of recapitalising the Company. The meeting of creditors to decide the future of the Company will be reconvened within 45 business days.

The company appointed Alan Walker of Walker Advisory & Capital Solutions as administrator of FEI. The Administrator will undertake investigations into the affairs of the company and may look to undertake a sale or recapitalisation process during the administration period to maximise the outcome for all stakeholders. Whilst FEI is in administration, all listed securities will remain suspended.

The company lodges its Activity and Cashflow Reports for the March 2021 Quarter.

The company has been in negotiation with the receiver of FE Investments Limited relating to an amount owed under the intercompany loan of $1,159,465.04. The general security agreement executed on 18 April 2016 as general security for advances made by FEI to Wolfstrike Group Ltd prior to the merger of Wolfstrike and FEI should have been discharged, however this remained registered against FEIG. The existence of the GSA was never disclosed by FEI in their 2018 and 2019 accounts or in the group accounts in 2018 and 2019, as a related party transaction, or by Wolfstrike Group in the merger documents. The Directors have now reached an agreement to resolve this issue, with the receiver agreeing to release the GSA once the full amounts set out have been received. This resolution will now enable FEIG to move forward with the preparation of Statutory Accounts for 2020, convening Shareholder Meetings together with investigating a potential restructure.

The company lodges its Activity Report for December 2020 Quarter.

Under Listing Rule 17.6, any entity (if not already suspended) that has not paid its annual listing fees by close of business on Friday, 19 February 2021 will have its securities suspended from official quotation before the commencement of trading on Monday, 22 February 2021. The company has not paid the second instalment of its annual listing fees in respect of the year ending 30 June 2021 but the securities are already suspended from official quotation.

The company lodges its September 2020 Quarter Activity Report.

The company lodges Cashflow Report for the December 2020 Quarter.

The company lodges its September 2020 Quarter Cashflow Report.

The company lodges its Activity and Cashflow Reports for June 2020 Quarter.

The company has appointed Rhys Cain and Rees Logan of Ernest and Young as liquidators of its wholly owned New Zealand subsidiary, FE Investments Limited. Messrs Cain and Logan have been appointed to protect the interests of creditors of FEIL and amongst their other duties, to undertake any statutory investigations that may be required into the conduct of the management, directors and former directors of FEIL. FEIL is currently in receivership.

The receiver of FE Investments Ltd has issued his first report dated 29 May 2020. FEIG is expecting the Unaudited Preliminary Final Annual Report (4E) to be released on finalisation of the audit which is estimated to be completed by the end of June 2020, with the Consolidated Annual Report to follow release of the 4E.

The company lodges its March 2020 Quarter Activity and Cashflow Reports.

The extent of the impact to FEIG of FEI's receivership cannot at this stage be determined by the FEIG Directors until further discussions are held with the Receivers and they confirm the course of action they will pursue. Shareholders will be updated, as the impact of the receivership becomes clear.

On 31 March 2020 FEIL advised the Reserve Bank of New Zealand and TEL that, as a result of making necessary provisions against its loan book, FEIL anticipated breaching its required 8% capital adequacy ratio. FEIL expected to breach the CAR for a period of at least 23 days while a capital raise was attempted. Breach of the CAR constitutes an Event of Default under the relevant Trust Deed and regulation 8(2)(a) of the Deposit Takers Regulations 2010. TEL advised FEIL that it had formed an opinion on reasonable grounds: that the proposed capital raising had no reasonable prospects of success; that FEIL was not able to remedy the breach within the next 14 days; and, as a result, it intends immediately to exercise its powers of enforcement under the Trust Deed and will forthwith appoint a receiver to FEIL. FEI is not affected by the receivership of FEIL. FEI expects to engage with the receiver "“ Neale Jackson and Brendon James Gibson of KordaMentha.

CNZF Management has acquired 5,769,230 ordinary shares in FE Investments Group Limited or pursuant to an off-market transfer. The shares were transferred from First Eastern Holdings Limited (2,884,615 Shares) and Romulus Group Limited (2,884,615). CNZF is owned by current FEIG director and key shareholder Mr Cook Huang.

500,000 unlisted options granted in August 2018 at an exercise price of $0.20 per option lapsed unexercised at the end of the option exercise period on 2 February 2020. FEIG's share capital remains unchanged at 226,216,022 fully paid ordinary shares. No options previously granted by the company remain outstanding at this time.

The company provivdes the December 2019 Appendix 4C Commentary. Year to date earnings exceed budget by $300,000 driven by core SME business lending. FEIG repaid intercompany loans of A$0.5m in the quarter. This was offset by the A$3.5m raised in the prior quarter. Administration and corporate costs have consistently been below budget in the quarter, resulting in a lower cash outflow. New and reinvested deposits raised during the quarter ended 31st December 2019 were approximately A$11.8m, maintaining our targeted deposit levels. Net negative cashflow in the quarter due to loan book growth exceeded new deposits which is in line with the groups strategy in targeting and growing its SME business lending.

The company lodges its Cashflow Report (Appendix 4C) for the December 2019 Quarter.

The contents page of the interim financial report as at 30 September 2019 advised the Reports of the Auditor could be found at the conclusion of the Interim Report. Included at this section should have been the Auditors Independence Declaration under Section 307C of the Corporation Act 2001. Unfortunately, due to circumstances, no fault of FEIG, the Independence Declaration was inadvertently omitted. The interim report was then relodged with the inclusion of the Independence Declaration. As at 19 December 2019, S&P's report for the Company's NZ subsidiary FE Investments Limited has lowered its rating to CCC/C outlook developing from B/B stable in October 2019. The rating has been lowered due to the potential impact on FEI's capitalisation by two large loan receivables, being two hotel property developments and an exposure to a client, Tomizone. FEI maintains sufficient liquidity to deal with near-term pressures. FEIG raised additional capital of A$3.3m in September 2019 to further strengthen its capital basis.

The company issues a response to ASX Financial Condition Query.

The company lodges its Interim Financial Report as at 30 September 2019.

The company is currently waiting on information from 3rd party sources and consequently the directors are unable to finalise the Interim Financial Report until after the receipt and review of the requested information. The company are targeting a completion and lodgement of the Interim Financial Report by the commencement of trade on Monday, 9 December 2019.

The securities of the the company will be suspended from Official Quotation in accordance with Listing Rule 17.5 from the commencement of trading today, 2 December 2019, following its failure to lodge the relevant periodic report by the due date.

The securities of FE Investments Group Limited will be reinstated to Official Quotation as from the commencement of trading on Monday, 10 December 2018 following lodgement of its Half Year Financial Report for the half-year ended September 2018.

The company releases a notice of general meeting. The meeting will be held on Tuesday, 8 January 2019 at 9.00am (AEST) at the offices of Ash St. Level 21 1 York Street SYDNEY NSW 2000.

The company releases its September 2018 Interim Results Presentation.

The company lodges its Half Yearly Report and Account.

The company's securities will be suspended from Official Quotation in accordance with Listing Rule 17.5 from the commencement of trading today, 3 December 2018, following failure to lodge the relevant periodic report by the due date.

name changed from Wolfstrike Rentals Group Limited