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Resource Generation Limited

ASX:RES
A$4.61Latest close held · delayed

Past year: ▲ 511900%(0.09c – 4.61 AUD)

Market cap
A$1.09bn
Shares on issue
237m
Story beats
142 since 2006
Last event
27 Oct 2022

Announcements, explained

Each one in plain English, with the numbers worked through for a shareholder.

4 Sept 2026other● Neutral

VanEck's monthly report of units issued in its ETFs as at 31 August 2026, including RESM. Unrelated to Resource Generation, which was delisted in 2022. No substance for this company.

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6 Aug 2026other● Neutral

VanEck's product disclosure statement for new ETFs, including the Rare Earth and Strategic Metals ex China ETF (code RESM). Unrelated to Resource Generation, which was delisted in 2022; the RESM code resemblance is coincidental. No substance for this company.

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6 Aug 2026other● Neutral

Target market determination for VanEck's RESM ETF, a rare earths fund. Unrelated to Resource Generation, which was delisted in 2022; the code resemblance is coincidental. No substance for this company.

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6 Aug 2026other● Neutral

ASX notice of VanEck ETFs starting trading, including RESM. Unrelated to Resource Generation (the code resemblance is coincidental); no substance for this company.

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27 Oct 2022registration revoked▼ BadMajor

ASX removed Resource Generation from the official list on 27 October 2022 after its shares had been suspended for two continuous years. The planned backdoor listing did not complete before removal (per available announcements).

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23 Aug 2022quarterly activities report● NeutralMajor

June 2022 quarter: the company has exited the DOCA and is a shell with no operations and cash of $8,419. It is in talks to acquire a business through a backdoor listing, needing shareholder approval and re-compliance with ASX Chapters 1 and 2 before trading resumes.

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7 June 2022director officer appointment● Neutral

Chairman Lulamile Xate resigned as a director on 1 June 2022. He had chaired the company since November 2017.

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7 June 2022security holder rights change● Neutral

After the 72:1 consolidation the company has 8,073,381 shares on issue. The top 20 hold 67.56%, led by the Government Employees Pension Fund/PIC (14.16%) and Noble (13.69%).

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1 June 2022security holder rights change● Neutral

Shareholders approved the 72-for-1 consolidation on 27 May 2022. Timetable is unchanged, with new holdings issued by 8 June and normal trading by 9 June, though the shares stay suspended.

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28 Apr 2022security holder rights change● NeutralMajor

Company plans a 72-for-1 share consolidation, cutting shares from 581,380,338 to about 8,074,727, subject to a shareholder vote on 27 May 2022. Fractions are rounded down.

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16 Feb 2022material agreement● NeutralMajor

Creditors approved a varied DOCA on 10 February 2022, executed with Alt Finance Pty Ltd as proponent, replacing the Holding DOCA. Four directors resigned, including CEO Molotsane, and Deloitte resigned as JSE sponsor. The board is largely cleared for the new owner.

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22 Dec 2021admin correction● Neutral

Under updated ASIC relief, financial reports and the AGM are deferred, with reporting to 2 July 2023 and the AGM to 2 September 2023. Administrative; no change to the company's position.

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18 Nov 2021agm notice▼ BadMajor

The exclusive negotiations have ended without the interested party providing a formal proposal; administrators are still assessing options. The company will rely on ASIC relief to defer the AGM until no later than 2 March 2022.

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30 Sept 2021material agreement● NeutralMajor

Following the expressions-of-interest campaign, the deed administrators entered exclusive negotiations with one interested party. They aim to obtain a formal restructure proposal and possibly vary the Holding DOCA, which creditors would vote on.

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7 Sept 2021other● Neutral

Deed administrators will use ASIC relief to defer audited accounts for the year to 30 June 2021 until 2 January 2022. An expressions-of-interest campaign to sell the listed shell drew a number of responses, and talks continue with several parties.

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23 Aug 2021listing compliance notice▼ Bad

ASX lists Resource Generation among entities that have not paid annual listing fees, with securities already suspended. Entities still unpaid by 27 August 2021 face removal from the official list. It is a risk flag; the company was later not removed at that point.

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12 Aug 2021material agreement● NeutralMajor

Creditors voted on 6 August 2021 for a 'Holding' Deed of Company Arrangement, signed 11 August. The administration ends and the three McGrathNicol administrators become deed administrators. This is a holding step, not a final restructure; the outcome for shareholders is still open.

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2 Aug 2021other● Neutral

Notice that the second meeting of creditors is set for 6 August 2021, where creditors will decide the company's future. Procedural notice only.

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12 July 2021director officer appointment● Neutral

Company Secretary Eryl Baron resigned, effective 2 July 2021, the day the administrators were appointed. Administrative change.

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6 July 2021bankruptcy or receivership▼ BadMajor

Directors appointed McGrathNicol's Jamie Harris, Jason Preston and Anthony Connelly as voluntary administrators on 2 July 2021. This follows Noble's April refusal of further funding. The first creditors' meeting is expected 14 July. Shareholders face an uncertain outcome.

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31 May 2021director officer appointment● NeutralMajor

Interim CEO Papi Molotsane is made permanent Managing Director and CEO from 1 June 2021, on unchanged terms, ending the interim role held since March 2018. The company also asked Noble to push the first repayment from 31 May to 31 August 2021; talks continue and R18.7m of creditor payments were extended.

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19 May 2021director officer appointment● Neutral

Non-executive director Dr Konji Sebati died on 15 May 2021; she had been on the board since 2015. Condolence notice with no direct financial implication.

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16 Apr 2021debt default or forbearance▼ BadMajor

Noble's board will not approve the remaining April and May advances under the Tenth Deed, cutting off the last working capital. The board is in urgent talks and is considering all options including appointing Administrators. CFO Brian Harvey and COO Zirk van der Bank resign from 30 April 2021.

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8 Apr 2021regulatory community update● Neutral

ASX grants the Listing Rule 10.1 waiver for the Tenth Deed, so Noble's extra US$0.993m can be secured under the existing share pledge without a shareholder vote. Secured amount rises to US$51.063m plus interest; funds available to 14 May 2021.

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16 Mar 2021half year report● Neutral

Unreviewed half-year accounts to 31 December 2020 lodged, using the extended deadline of 16 April 2021 for the reviewed version. Reports a net profit of $10.038m, driven by an $11.095m unrealised foreign exchange gain on the Noble loan, not by operations.

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15 Mar 2021debt financing● Neutral

Noble agrees in principle to up to US$0.993m more (facility total US$51.063m) to fund an austerity budget to 31 May 2021, with first repayment moved to 31 May. Consultants' unpaid R18.7m deferred to 31 May. Eryl Baron appointed Company Secretary.

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2 Mar 2021joint venture update● Neutral

Strategic review's first phase (market sounding, data-room preparation) is finished; NDAs are being signed, with 4-6 weeks of due diligence to follow. Interest is mostly from South African entities. Company has asked Noble for more funding to 31 May and a repayment deferral to 30 June 2021; the company secretary is resigning.

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29 Jan 2021other▼ Bad

Chairman's AGM address says the strategic review will now run well past 28 February 2021. The company is seeking more working capital and further extensions of deferred contractor payments. Directors are serving unpaid. It repeats the solvency challenge.

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23 Dec 2020regulatory community update● Neutral

ASX grants the Listing Rule 10.1 waiver, letting the extra US$0.92m from Noble be secured under the existing share pledge over Ledjadja without a shareholder vote. Secured amount rises to US$50.07m plus interest; funds available to 28 February 2021.

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23 Dec 2020annual report● Neutral

Appendix 4G governance checklist lodged with the annual report, pointing to the corporate governance statement on the website. Administrative filing with no new substance.

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