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WOLLONGONG COAL LIMITED (ASX.WLC)

Now called: WOLLONGONG RESOURCES PTY. LTD.

ASX, Legal & CGT Status
Former (or subsequent) names
CompanyFROMTO
WOLLONGONG COAL LIMITED25/03/2014
GUJARAT NRE COKING COAL LIMITED01/03/201025/03/2014
GUJARAT NRE MINERALS LIMITED08/02/200801/03/2010
INDIA NRE MINERALS LIMITED08/02/2008
Shareholder links
Our website ranking of WLC: rating 3
(3 out of 5)
COMPANY WEBSITE:

 

REGISTRY:
Boardroom Pty Ltd
Level 8, 210 George Street, Sydney NSW 2000
Tel : +61 2 9290 9600 or 1300 737 760
Fax : +61 2 9279 0664 or 1300 653 459
RegistryWebsite RegistryEmail

Company details
ISIN: AU000000WLC0
Address: Lot 1, Princess Highway, (Cnr Bellambi Lane), RUSSELL VALE, NSW, AUSTRALIA, 2517
Tel:  (02) 4223 6836 Fax: (02) 4283 7449

Date first listed: 10/07/2007

Sector: Materials
Industry Group: XMJ
Activities: The Company is focused on the development of the NRE No.1 Colliery and NRE WOngawilli Colliery in the Southern Coalfields of New South Wales

Since delisting from ASX this entity has been privatised. We are no longer monitoring its activities.

08/02/2024

is now called WOLLONGONG RESOURCES PTY. LTD.

20/10/2023

many shareholders in this company have unclaimed money due to them - deListed provides a tracing service for a small administration fee that identifies where people can find unclaimed monies arising from compulsory acquisitions and also from dividend distributions, super contributions, inoperative bank, building society or credit union accounts, bequests and other sources - please click here for access to our Lost shares, Lost money service

22/03/2023

the compulsory acquisition of ordinary shares (WCL Shares) in Wollongong Coal Limited (ACN 111 244 896) (WCL) by Jindal Steel and Power (Mauritius) Limited (Mauritius company registration number C068618) (Jindal) is effected today - Jindal has provided to WCL the Purchase Consideration (A$0.0001 per share) payable for all Compulsory Acquisition Shares, which shareholders are now entitled to claim in respect of those Compulsory Acquisition Shares - WCL is holding your share of the Purchase Consideration on trust, pending receipt of directions from you as to how to deal with it - if you do not advise WCL the monies are likely to be transferred to ASIC to be dealt with as 'unclaimed moneys'.

05/05/2022

delisted from the close of trading on Friday, 18 September 2020, pursuant to Listing rule 17.11.

18/09/2020

we understand the company has been suspended from quotation since December 2018, there has been no liquidity in the company's shares which last traded at $0.008, it is unable to raise further capital and it can no longer afford the costs of listing

18/09/2020

The company releases its AGM Results 2020.

18/08/2020

The company releases the ASX Speech for AGM.

18/08/2020

The company lodges its Quarterly Report Apr June 2020.

27/07/2020

The company releases its Annual General Meeting Proxy Form.

17/07/2020

The company's AGM will be held at 2:30 PM (AEST) on 18 August 2020 at The Dalton Room Quality Suites Pioneer Sands 19 Carters Lane TOWRADGI NSW 2518.

17/07/2020

The company has submitted a formal application to the AASX for its removal from the official list of ASX. ASX has confirmed that it will remove WLC from the official list of ASX subject to compliance with conditions.

10/07/2020

The company lodges its Annual Report to shareholders.

11/05/2020

The creditor schemes of arrangement between each of the Company and Jindal Steel and Power and the lenders under certain secured loan facilities have now been implemented. All conditions to the implementation of the schemes have either been satisfied or waived in accordance with the terms of the schemes, and the schemes were implemented on 5 May 2020. The debt restructuring had also been completed.

08/05/2020

The company lodges its Quarterly Report - Jan - Mar 2020.

30/04/2020

At the Hearing, the NSW Supreme Court granted the relief sought by the Scheme Companies and made orders that the CP Satisfaction Long Stop Date in the Schemes be extended to 1 April 2020; and the Settlement Long Stop Date in the Schemes be extended to the date that is 7 days after the entry by the Court of the Court's orders made in respect of Application, namely 6 May 2020. The extensions ordered operate retrospectively from the time the orders approving the Schemes on 14 February 2020 were made. The Schemes had terminated automatically on 29 March 2020 due to certain Pre-Settlement Date Conditions Precedent not being satisfied or waived by that time. The effect of the Court's orders is to undo the termination of the Schemes, and extend the date for completion of the Schemes to 6 May 2020.

29/04/2020

At the Directions Hearing regarding the Scheme Companies' application in the Proceedings for further orders in respect to the Schemes, the NSW Supreme Court ordered that the Scheme Companies' Application be listed for hearing by the NSW Supreme Court on Wednesday 29 April 2020 at not before 10.30 am before Black J and that the Hearing will take place by way of telephone.

27/04/2020

At the request of the Scheme Companies, NSW Supreme Court Proceedings in respect of the Schemes have been listed for directions in the NSW Supreme Court Corporations List on Monday 27 April 2020 at 10 am. The Scheme Companies will seek further orders in respect of the Schemes at the Directions hearing.

24/04/2020

On 7 April 2020, the Fair Work Commission dismissed Wollongong Coal's application under section 225 of the Fair Work Act 2009 (Cth) to terminate the NRE No 1 Colliery Workplace Agreement 2011. This was made after the Russell Vale Colliery was placed in care and maintenance in September 2015 and after the company ceased to employ employees covered by the enterprise agreement from that time.

09/04/2020

The schemes of arrangement between each of the company and Jindal Steel and Power (Australia) Pty Ltd and the lenders under certain secured loan facilities approved by the NSW Supreme Court on 14 February 2020 have terminated according to their terms. As a consequence of the schemes terminating, the facilities have not been restructured. A total payment of US $17.35 million has been made reducing the secured debt from US $370.15 million to US$ 352.80 million. As reported in the quarterly report for a period of Oct-Dec19 on 29 January 2020, remaining balance of US $10.42 million has also been paid under the MCB Facility.

03/04/2020

On 14 February 2020, the NSW Supreme Court approved creditor Schemes of Arrangement between each of the Company and Jindal Steel and Power (Australia) Pty Ltd and the lenders under the secured loan facilities provided pursuant to a facility agreement dated 6 August 2015 and a facility agreement dated 24 December 2015 as amended, restated and supplemented. On the same day, the scheme companies lodged the Court orders with the ASIC and all of the pre-effective date milestones have now been completed. The schemes are now legally effective. Ben Campbell and Christopher Hill of PWC have been appointed joint and several administrators of the schemes. The implementation of the schemes is now subject to the completion of a number of conditions which must be met by 15 March 2020, or 30 March 2020.

14/02/2020

The Court proceedings to approve proposed schemes of arrangement between secured lenders under the Facilities and the company and Jindal Steel and Power (Australia) were listed before the NSW Supreme Court today for a Second Court Hearing. The Second Court Hearing was part heard and stood over for further hearing to tomorrow, Wednesday 12 February 2020. The debt restructuring remains incomplete and remains subject to conditions.

11/02/2020

The Company advises of a correction to the announcement dated 23 December 2019 "˜Update on proposed debt restructuring. The third paragraph of that announcement stated that (among other things) on 20 December 2019 the NSW Supreme Court approved proposed schemes of arrangement between secured lenders under the Facilities and the Company and Jindal Steel and Power (Australia) Pty Ltd. That statement was incorrect. The Schemes had (and have) not yet been approved by the Court. Court approval of the Schemes will be sought by the Company and JSPAL at the Second Court Hearing listed before the NSW Supreme Court on 11 February 2020 at 9.15 a.m. The debt restructuring remains incomplete and remains subject to conditions.

04/02/2020

The relevant creditor resolutions to agree to the schemes of arrangement were passed on polls by the requisite majorities by value and number of the creditors entitled to vote. The schemes will come back before the Court on 11 February 2020 for a second court hearing. The debt restructuring remains incomplete and remains subject to conditions.

30/01/2020

The company lodges its Quarterly Report Oct-Dec 2019.

29/01/2020

The company lodges its Financial Statement for 9 month period to 31 Dec 2019.

20/01/2020

The proposed restructuring of the facilities continues. The parties have amended the RSA which (among other things) contains certain terms and conditions of the restructure and the conditional standstill arrangements that apply while the restructuring is progressed. On 20 December 2019, the NSW Supreme Court has approved the proposed scheme for secured creditors and ordered that meetings of the secured lenders that are party to the restructuring be convened to enable them to vote on schemes of arrangement between them and the company and Jindal Steel and Power (Australia) Pty Ltd. Those meetings are scheduled to occur on 30 January 2020 and, if agreed to, the schemes will come back before the Court on 11 February 2020 for a second court hearing.

23/12/2019

Certain secured creditors in respect of the Facilities have entered into a restructuring support agreement with Wollongong Coal Limited, Wongawilli Coal Pty. Ltd, Oceania Coal Resources NL, Jindal Steel and Power, Jindal Steel & Power (Mauritius) Limited and Jindal Steel & Power Limited. Under the terms of the RSA, those secured creditors have agreed to a standstill under the Facilities pending the negotiation of final binding documentation for a restructuring of that debt. The form of the debt restructuring documents has progressed. The process for the proposed schemes of arrangements is being commenced.

06/12/2019

On 15 November 2019, the High Court of Australia refused Gujarat NRE India's application for special leave to appeal with costs. The application sought to overturn the Court of Appeal of the Supreme Court of New South Wales's judgment dated 11 June 2019, which had dismissed Gujarat NRE India's claim under an indemnity in the sum of $15,106,397.48. The dismissal of the application brings to an end the substantive aspects of the litigation brought by Gujarat NRE India. The parties' respective costs in the trial proceedings in the Supreme Court of New South Wales will now need to be resolved.

18/11/2019

A group of creditors in respect of the facilities have entered into a restructuring support agreement with the company, Wongawilli Coal, Oceania Coal Resources, JSPAL, Jindal Steel & Power (Mauritius) and Jindal Steel & Power. The supporting creditors have agreed to a standstill under the facilities pending the negotiation of final binding documentation for a restructuring in respect of WLC and JSPAL. The standstill arrangements under the RSA are conditional on numerous conditions to be fulfilled by the agreeing parties. The parties have agreed to negotiate and finalise the restructuring documents by 30 November 2019.

13/11/2019

The company lodges its Half Yearly Report and Accounts.

30/10/2019

The company lodges its Quarterly Activities Report.

30/10/2019

The company has received a notification from the regulator informing that after careful consideration, the regulator has decided to conclude the investigation into whether the company has complied with its duties under the Work Health and Safety Act 2011.

25/10/2019

The company releases the results of its Annual General Meeting 2019.

13/09/2019

The company releases its AGM 2019 - CEO Presentation.

13/09/2019

The company releases a notice of AGM. The meeting will be held at 2:00 pm AEST on 13 September 2019 at The Dalton Room Quality Suites Pioneer Sands 19 Carters Lane TOWRADGI NSW 2518.

09/08/2019

The company lodges its Quarterly Report Apr Jun 2019.

31/07/2019

The Revised Underground Expansion Plan, Final Revised Preferred Project Report and Response to Second PAC Review have been submitted to the Department of Planning, Industry and Environment on 17 July 2019. This has now been posted on their website for Public Exhibition. WCL and our consultants have completed additional specialist reports and remediation options to improve the requirements and address the issues that were raised in past. WCL has consulted and liaised with the community and other stakeholders and as a result these Reports have been independently peer reviewed.

31/07/2019

The company lodges its Annual Report to shareholders.

24/07/2019

WLC has entered into a binding amendment letter with the lender under the MCB facility. As at 28 June 2019, approximately approximately USD12,501,000 in principal amount is outstanding. The amendment letter provides for the extension of the final repayment date of the current outstanding amount to the earlier of 31 December 2019 or the date on which any restructuring of the indebtedness and other obligations of Jindal Steel and Power (Australia) Pty Ltd in connection with various outstanding facilities becomes effective.

02/07/2019

The Court of Appeal of the New South Wales Supreme Court handed down a decision on 11 June 2019, which overturned a judgment in favour of Gujarat NRE India for indemnity in the sum of $15,106,397.48. The Court upheld a judgment against the Company in the sum of $6,565,398.06 plus interest in respect of a loan account claim. The company is reviewing the decision together with its legal advisors.

12/06/2019

The company lodges a Revised Quarterly Report.

01/05/2019

The company lodges its Quarterly Activities Report.

30/04/2019

The major shareholder, Jindal Steel and Power Mauritius Limited, ) has reaffirmed its commitment to Wollongong Coal. JSPML has confirmed to financially support WCL's immediate and future plans for both mines.

24/04/2019

The Wongawilli mine was re-entered to undertake a complete risk assessment on 1 April 2019. The mining officials found another fall on the main belt road. The mining operations at the Wongawilli colliery will be suspended and placed into "˜Care and Maintenance', which will result in a reduction of the workforce by approximately 45 employees. The operational changes will affect operators, electricians, fitters, deputies and other staff. A small team will be retained to undertake care and maintenance activities. The Company will continue to seek approval for the Underground Expansion Plan (UEP) at the Russell Vale Colliery, which will allow recommencement of extraction of high-quality coking coal. The Company expects the UEP will be referred back to the Planning Assessment Commission for determination later this year.

10/04/2019

The Department of Planning and Environment's Resources Regulator has commenced an investigation into whether Wollongong Coal Ltd has complied with its duties under the Work Health and Safety Act 2011. The investigation relates to matters that led to the issue of prohibition notices and the stop work order following an inspection of the Wongawilli Colliery on 13 March 2019. The Resources Regulator has also issued a notice under section 248B of the Mining Act 1992, seeking information and records in relation to Wollongong Coal's financial capacity to comply with its obligations under the Mining Act.

04/04/2019

The company, Jindal Steel and Power (Australia) and other entities in the JSPLI Group intend to enter into negotiations with a group of creditors in connection with the amendment of certain indebtedness and/or other obligations.

19/03/2019

Following underground inspections by the mine inspectors from the Natural Resources and Mining Regulators - Health and Safety last week, the Company has received a prohibition notice to cease all mining activities pending complete risk assessment and adequate control measures are put in place, and accepted by the department/regulators. The areas of concerns included strata roof supports and risk associated with the conveyor systems. The Company has ceased all mining activities and focusing on undertaking complete risk review, which may take next few weeks.

18/03/2019

Following its voluntary suspension from trading, and in the context of its concerns about the FY18 Report not as yet being resolved, on 11 March 2019 ASIC made a determination under section 713(6) of the Corporations Act precluding WLC from using a short form "special content prospectus" until 11 March 2020. WLC will be required to prepare a full prospectus in circumstances where a prospectus is required for any capital raising purpose until 11 March 2020.

14/03/2019

The company has entered into a binding consent letter with the lender under the MCB Facility. As at 22 February 2019, approximately USD20,835,000 in principal amount is outstanding under the terms of the MCB Facility. The Consent Letter provides for the extension of the final repayment date of the amounts outstanding under the MCB Facility to 31 March 2019, with a further option to extend the final repayment date to 30 June 2019. The extension to 31 March 2019 is conditional on (amongst other matters) the Company repaying 20% of the Outstanding Amount (plus accrued interest on such amount) within 5 business days following the signing of the Consent Letter. The directors of WLC intend to fund these payments with loans provided from the Jindal Steel & Power group of companies.

25/02/2019

The company lodges its Quarterly Report.

31/01/2019

The Company refers to its announcement made on 11 January 2019 in relation to a protected industrial action by the contract workers engaged at the Wongawilli Colliery. The Company is pleased to advice that it has received a notice of withdrawal of industrial action. As per the notice received from the labour hire contractor, the protected industrial action commenced on Monday 14 January 2019 ends effectively from 6:00AM on Thursday 17 January 2019. The Company has welcomed the amicable resolution of the current labour dispute between the labour hire contractor and its employees.

17/01/2019

The Company has been notified of the intention of contract workers engaged at the Wongawilli Colliery to take protected industrial action. The notice that has been provided to the Company by the labour hire contractor states that the taking of protected industrial action relates to a proposed enterprise agreement between the labour hire contractor and its employees. The notified protected industrial action is in the form of consecutive stoppages of work for periods of 24 hours duration starting at 6.00 am on Monday 14 January 2019, and continuing up to and including a final stoppage commencing at 6.00 am on Sunday 20 January 2019.

11/01/2019

The securities of Wollongong Coal Limited will be suspended from quotation immediately under Listing Rule 17.2, pending enquiries from ASX.

13/12/2018

The suspension of trading in the securities of Wollongong Coal Limited will be lifted immediately, following receipt of the Company'sInterim Financial Report for the period ended 30 September 2017.

04/12/2017

The company lodges its Half Yearly Report 30 Sep 2017.

01/12/2017

The company will be suspended from official quotation from the commencement of trading today, 1 December 2017 following failure to lodge its Half Yearly Report and Accounts for the period ended 30 September 2017.

01/12/2017

The suspension of trading in the securities of Wollongong Coal Limited (the "Company") will be lifted from the commencement of trading on Monday, 2 November 2015, following receipt of an announcement by the Company. Security Code: WLC

30/10/2015

Following release of annual report for year ended 31 March 2015 on 1 Sep 2015 and quarterly activities report for July to September 2015 quarter on 30 October 2015, the Company requests that its securities be reinstated to quotation.

30/10/2015

The company lodges its Quarterly Report July to September 2015

30/10/2015

The company releases results of AGM held today 23 October 2015.

23/10/2015

Notice is given that the Meeting will be held at 2:00 pm AEDT on 23 October 2015 at: The Dalton Room Quality Suites Pioneer Sands 19 Carters Lane TOWRADGI NSW 2518

22/09/2015

The company releases the Proxy Form for the 2015 AGM.

22/09/2015

The company lodges its annual report.

01/09/2015

Wollongong Coal today announced operational changes at its Russell Vale Colliery following difficult operating and financial conditions. Mining operations at the Russell Vale Colliery will be suspended and placed into "˜Care and Maintenance', which will result in a reduction of the workforce by approximately 80 employees.

01/09/2015

The company lodges its quarterly activities report.

03/08/2015

The securities of the company will be suspended from Official Quotation from the commencement of trading today 1 June 2015 following failure to lodge its Preliminary Final Report for the period ended 31 March 2015 in accordance with Listing Rules.

01/06/2015

The suspension of trading in the securities of Wollongong Coal Limited (the "Company") will be lifted from the commencement of trading today, Thursday 1 May 2014, following lodgement of the Company's Prospectus in relation to its Entitlement Offer. Security Code: WLC

01/05/2014

Wollongong Coal is investigating ways of making its operations more competitive and improving productivity at its two South Coast mines in the face of coking coal prices slumping to a six-year low

30/04/2014

the Company advises that the institutional component of its 2:11 renounceable accelerated rights issue closed today (Entitlement Offer), raising approximately $29.285m through the issue of approximately 390.47m Company shares. The close of the institutional component of the Entitlement Offer to selected institutional shareholders represents the first stage of the Company's Entitlement Offer. - Retail shareholders who are eligible to participate under the terms of the Retail Entitlement Offer will be able to subscribe for 2 new Shares for every 11 Company shares held

30/04/2014

the Company has prepared and releasing unaudited management accounts for a quarter ending 31 March 2014

28/04/2014

requests an extension of voluntary suspension on its securities

24/04/2014

the Company requests continuation of suspension as its institutional offer is not yet finalized and it is unable to lodge the prospectus for the accelerated rights issue until before market opens on Thursday, 24 April 2014. The Company wishes the suspension to continue until the commencement of normal trading on Thursday, 24 April 2014 when it expects to lodge the prospectus for the accelerated rights issue.

15/04/2014

the Company requests the suspension as it is unable to lodge the prospectus for the accelerated rights issue until before market opens on Monday, 14 April 2014

11/04/2014

name changed from Gujarat NRE Coking Coal Limited

25/03/2014
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    Directors' on-market share transactions (last 5)

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    Purchases Sales

    DATEDIRECTORNATURENUMBERPRICEAMOUNT
    23/08/2018Milind Oza21,148$0.008$169
    06/08/2018Milind Oza397,852$0.008$3,183
    16/07/2018Milind Oza625,000$0.008$5,000
    26/03/2018Milind Oza180,000$0.011$1,980
    15/03/2018Milind Oza100,000$0.010$1,000

    Click here for the last 20 transactions all companies

    Directors & Executives (current)
    NAMETITLEDATE OF APPT
    Warwick LidburyInterim CEO31/05/2020
    Wayne SlyCOO01/05/2017
    Dipen RughaniIndependent Director16/08/2019
    Andrew FirekIndependent Director18/12/2006
    Sanjay SrivastavaNon Exec Director07/05/2019
    Milind OzaDirector31/07/2015
    Sanjay SharmaCompany Secretary

    Date of first appointment, title may have changed.

    Directors & Executives (former)
    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Mitch JakemanCEO04/02/201931/05/2020
    Maurice AnghieIndependent Director11/05/200723/07/2019
    Devendra VyasDirector05/11/201801/04/2019
    Ashish KumarNon Exec Director16/06/201501/09/2017
    Azad BhuraNon Exec Director22/05/201505/12/2016
    Jasbir SinghChairman, Non Exec Director26/10/201322/05/2015
    David StoneCOO17/02/201414/05/2015
    Mona JagatramkaNon Exec Director12/07/200714/02/2014
    Arun JagatramkaDirector12/10/200414/02/2014
    Don CarrollNon Exec Director11/09/200929/07/2011
    Sumit KhetanNon Exec Director12/07/2007

    Date of first appointment, title may have changed.