On 19 September 2001, John Menzies Spark and Peter Damien McCluskey were appointed Voluntary Administrators of the Pasminco Group of Companies. Trading in Pasminco Limited ("Pasminco") shares ceased on 20 September 2001. On 4 October 2002, Pasminco and each of the subsidiaries under Voluntary Administration executed Deeds of Company Arrangement ("DOCAs"). John Menzies Spark and Peter Damien McCluskey were appointed Administrators of the DOCAs.
Pursuant to the DOCAs, a new company, Zinifex Limited ("Zinifex"), was formed to acquire certain shares and other interests in entities that operated key assets in the Pasminco Group as part of the restructure process.
Shares in Zinifex were sold through an Initial Public Offering ("IPO"). Shares in Zinifex began trading on the Australian Stock Exchange on 5 April 2004.
Pasminco and the Residual Group remain under the control of the Administrators who are currently managing its wind up.
Immediately following the Zinifex IPO, an interim dividend was paid to Pasminco's creditors. Further dividend payments will be made as the Deed Administrators address certain outstanding issues in relation to the Residual Group.
A person or organisation who believes they may have a creditor's claim against Pasminco should provide details of their claim to the Deed Administrators at the following address:
|PO Box 290 Collins Street West|
|MELBOURNE VIC 8007|
For further information in relation to Pasminco, please contact Richard Bastow at Ferrier Hodgson on (03) 9600 4922.
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