Midas Minerals (ASX:M24) lodged a Form 603 Notice of Initial Substantial Holder with the ASX on 15 July 2018, disclosing that a party had become a substantial holder in the company, as required under Section 671B of the Corporations Act 2001.

Key Points

  • A Form 603 Notice of Initial Substantial Holder was lodged on 15 July 2018 in relation to Midas Minerals (ASX:M24).
  • The notice was filed under Section 671B of the Corporations Act 2001.
  • The filing references an Appendix 1 covering consideration details.
  • The form template fields for the substantial holder's name, voting power, and relevant interests were included as part of the lodgement.

Form 603 Substantial Holder Notice Filing

The Form 603 was lodged with the ASX on 15 July 2018 in accordance with Section 671B of the Corporations Act 2001. The form constitutes a Notice of Initial Substantial Holder and was submitted for Midas Minerals. The filing includes the prescribed sections covering details of the substantial holder, voting power, relevant interests, present registered holders, consideration, associates, and addresses, as required under the statutory form. An Appendix 1 relating to consideration was also included as part of the lodgement documentation.

Statutory Requirements Under Section 671B

Under Section 671B of the Corporations Act 2001, a person who becomes a substantial holder in a listed company is required to give notice of that fact to the company and to each relevant securities exchange. The filing guide accompanying the form states that the notice must be given within two business days after the person becomes aware of the relevant information, or by 9.30 am on the next trading day of the relevant securities exchange if a takeover bid is in place and the person becomes aware of the information during the bid period. The filing attracts no lodging fee.

Signing and Lodgement Requirements

According to the filing guide included with the Form 603, the notice must be signed by a director or secretary in the case of a company, by a director or secretary of the local agent in the case of a foreign company, or by a director or secretary of the responsible entity in the case of a registered scheme. The guide also sets out requirements for any annexures attached to the form, including the use of A4 paper, block lettering in dark blue or black ink, consecutive page numbering, and appropriate identification and endorsement markings. Annexures must be signed and dated by the same persons who signed the form.