Latest Litigation News

Carnaby Resources’ proposed acquisition by Evolution Mining has moved closer to completion after ASIC registered the scheme booklet and Evolution waived the ACCC clearance condition. The scrip deal still requires shareholder and Court approval, with the vote set for 26 October.

EQT Holdings says the indicative takeover prices from TPG Global and BGH Capital do not reflect the value of Equity Trustees, but has opened the door to improved proposals. Both parties have confirmed their prices will not be reduced by EQT's 20-cent FY26 final dividend.

Pengana International Equities has settled Supreme Court proceedings and agreed steps aimed at ending a related Takeovers Panel application, clearing a path for its buy-back and strategic reset. Antipodes will manage the portfolio under a new Board led by interim chairman Frank Gooch after the transaction.

Medibank delivered higher FY26 operating profit, underlying earnings and dividends, while its health services arm posted strong growth after the Better Medical acquisition. The annual report also leaves investors weighing cybercrime litigation, capital flexibility and the pace of Medibank Health’s expansion.

Alcoa has filed South32’s meeting materials ahead of a shareholder vote on the proposed sale of bauxite, alumina and aluminium interests. The transaction remains subject to shareholder approval, regulatory clearance, financing and other closing conditions.

Lion Selection Group (ASX:LSX) increased its investment portfolio by 19% to A$108.2 million in FY2026, even as net profit fell 77% to A$8.9 million after an exceptional prior year. The resources investor enters the new year with A$36 million in cash and term deposits, but remains exposed to volatile junior mining valuations and unresolved litigation.

Yowie Group Limited cut its net loss to US$0.20 million in FY26 despite a 27.1% drop in revenue, driven by cost cuts, loan impairment reversals, and new product launches including the Yowie x NBA series.

Amara Minerals has taken a strategic legal step by filing a cross-claim against Great Divide Mining amid a GST indemnity dispute linked to Challenger Mines, intensifying a court battle that remains unresolved.

Sarama Resources has issued 16.5 million Performance Share Units to its directors and CFO, linking incentives directly to key arbitration outcomes against the Government of Burkina Faso. Half of the awards vest on receipt of an arbitration ruling, and the rest on receipt of any award funds.

Pengana International Equities (ASX: PIA) posted a sharp 82% plunge in net profit for FY26, triggering a strategic board reshuffle and a capital management package including a special dividend and buy-back proposal.

Shine Justice Ltd reported a modest 2.3% revenue increase to $209.2 million for FY26, alongside a striking 1,578% jump in net profit after tax to $9.6 million. The company declared a fully franked final dividend of 2.5 cents per share, signalling confidence amid ongoing investments in technology and international expansion.

Echelon Resources (ASX:ECH) reported a 341% jump in net profit to A$28.2 million for FY26, driven by stronger gas prices and a A$12.1 million gain from its exit of Cue Energy. The group also repaid A$37 million of debt, leaving it well positioned for upcoming gas drilling at Palm Valley.