Monthly Archives: July 2015

In July 2015, our Sydney Corporate team advised Staging Connections Group Limited (SCGL) on the proposal by US-based event technology services company PSAV to acquire 100% of SCGL by way of a scheme of arrangement, at a bid consideration of $52 million. Following the announcement of the PSAV deal, Freeman Audiovisual Inc, a substantial US based "leading global partner for integrated experiential marketing solutions" made an unsolicited competing and better offer for Staging for $58 million (up to a maximum of $59 million). After some complex manoeuvring in a highly regulated environment, statutorily and contractually, between the two offers we successfully signed a fresh Scheme Implementation Agreement with Freemans at the higher price - the clients were delighted with the outcome. SCGL is a leading Australian-based audiovisual and event specialist company, which has a presence in Australia, Singapore, China, Fiji, and New Zealand.

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Thomson Geer's Brisbane Corporate team advised ASX listed Geodynamics Limited in relation to its off market takeover scrip offer for all the shares in an unlisted public company, Quantum Power Limited (QPL). The bid values QPL at approximately $8 million.

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The Commissioner's "notice to produce" powers are not fettered by the Corporations Act restrictions on a creditor's right to inspect the books of a company in liquidation, says the recent Federal Court decision of Commissioner of Taxation v Warner [2015] FCA 659.

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ASX listed CTI Logistic Limited (CTI) has announced the acquisition of GMK Logistics, a leader in the warehousing and distribution of floor coverings throughout Australia. The acquisition was effected by way of the purchase of shares in Logico Operations Group Limited (Logico), the holding company of G.M. Kane & Sons Pty Ltd trading as GMK Logistics. The purchase price for this acquisition is $27 million. Thomson Geer's Sydney Corporate team advised the vendors of Logico on this transaction.

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Fragrance Group announced recently that they have received approval for a $350 million residential and hotel complex in downtown Melbourne, comprising 660 units and 160 hotel rooms. Thomson Geer's Property team has been appointed by Fragrance Group for all conveyancing services for the development.

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Thomson Geer's Brisbane corporate team is advising takeover target, ASX listed Cokal Limited, in relation to a proposed $75 - $80 million takeover offer by Indonesia stock exchange listed resources investment company, PT Cakra Mineral Tbk (CKRA).

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In a matter where Thomson Geer acted for the respondent, the Supreme Court of Queensland has used its new power to sever void adjudication decisions for the first time and, in so doing, provided eager applicants with a reason to think twice before challenging adjudication decisions.

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The Queensland Supreme Court delivered its decision in Monadelphous Engineering Pty Ltd & Muhibbah Construction Pty Ltd trading as Monadelphous Muhibbah Marine v Wiggins Island Coal Export Terminal Pty Ltd [2015] QSC 160.

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Thomson Geer's Brisbane Corporate team advised ASX listed Titan Energy Services in May on its divestment of Hofco Oil Field Services Pty Ltd for AU$13.5m in cash.

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