Mining services company ADG Global Supply has been placed in the hands of administrators, after struggling to deal with the collapse of major client African Minerals.
The National Stock Exchange has approved the appointment of controversial businessman Frank Timis as non executive chairman of African Petroleum Corporation, but subject to unusual rules relating to the company's disclosure and governance.
The ASX Appeal Tribunal has overturned the Exchange's earlier decision to ban the relisting of shares in two Tony Sage companies, International Petroleum and Global Iron.
Global Iron and International Petroleum will continue their quest to be reinstated to the Australian Securities Exchange after an appeals tribunal said the stock market regulator should have taken additional information into account.
The Australian Securities Exchange has decided to block transactions by two of Tony Sage's companies on grounds that controversial businessman Frank Timis would gain too much control.
Two Tony Sage-led companies plan to raise up to $260 million as a condition of deals to acquire businesses associated with controversial businessman Frank Timis.
A company that was founded by former Perth resident Frank Timis has reportedly been fined a record $1 million in the United Kingdom over a number of misleading stock market announcements.
