Catalyst Metals (ASX: CYL)
The Company is requesting that a trading halt be placed on the Company’s shares on the basis that Catalyst has identified a minor, technical misstatement in its FY24 Consolidated Entity Disclosure Statement.
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Henty Gold Mine, Tasmania – Courtesy of Catalyst Metals
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| Catalyst Metals | ASX : CYL | |
| Stage | Exploration / development | |
| Metals | Copper / Gold | |
| Market cap | A$1.75 Billion @ A6.95 | |
| Location | Murchison, Western Australia | |
| Website | www.catalystmetals.com.au |
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CATALYST METALS REQUEST FOR TRADING HALT
Pursuant to ASX Listing Rule 17.1, Catalyst Metals Limited (Company) requests a trading halt on its securities, effective immediately.
In accordance with ASX Listing Rule 17.1, the Company provides the following information:
– the trading halt is requested pending an application to the Federal Court of Australia by the Company regarding rectification of a technical compliance issue;
– the Company requests that the trading halt remain in place until the earlier of the time the Company releases an announcement regarding the matter or the commencement of trading on Wednesday, 27 August 2025; and
– the Company is not aware of any reason why the trading halt should not be granted or any other information necessary to inform the market about the trading halt.
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The Company is requesting that a trading halt be placed on the Company’s shares on the basis that:
– Catalyst has identified a minor, technical misstatement in its FY24 Consolidated Entity
Disclosure Statement, in strict non-compliance with sections 295(3A) and 295A(2)(ca) of the Corporations Act 2001 (Cth) (the Act); and
– six cleansing notices issued by the Company have stated that the provisions of Chapter 2M of the Act were complied with when sections 295(3A) and 295A(2)(ca) (which are contained in Chapter 2M of the Act) were not strictly complied with.
Following identification of the matters set out above, it was determined seeking rectification by applying for Court orders was the most appropriate course of action.
Although the Board does not consider the matters referred to above to be material or price sensitive, it has nevertheless requested a trading halt whilst it seeks remedial orders under section 1322 of the Act from the Supreme Court of Western Australia.
At the time that each cleansing notice was issued, it was the belief that the Company was compliant with Chapter 2M of the Act. The Company will seek orders that the cleansing notices are not invalid by reason of mistakenly stating that the provisions of Chapter 2M have been complied with when sections 295(3A) and 295A of the Act had not been complied with.
The Company is seeking a Court hearing on an urgent basis and will advise the market
immediately on the outcome of the hearing.
The Board wishes to assure all shareholders that it is seeking a resolution to these matters as quickly as possible with a view to having the Company’s shares reinstated to trading without delay.
Authorised for release by the Board of Directors of Catalyst Minerals Limited.
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To read the full news release, please click HERE
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Disclosure
At the time of writing the author holds shares in Catalyst Metals.
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