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ASIC sues Keystone directors over A$530m Shield fund

ASIC has filed Federal Court proceedings against former directors and compliance committee members of Keystone Asset Management Ltd (Receivers & Managers Appointed) (In Liquidation) over alleged failures in the management of the Shield Master Fund, which held more than A$530 million from around 5,800 superannuation investors.

Read more: ASIC sues Keystone directors over A$530m Shield fund
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Echelon receives A$15.7m from Cue share sale

Echelon Resources (ASX:ECH) has received approximately A$15.7 million from settling the sale of 139,885,879 shares in Cue Energy Resources (ASX:CUE) to Horizon Oil (ASX:HZN), under a pre‑bid agreement first announced in March 2026.

The sale forms part of Horizon’s off‑market takeover bid for Cue, which has now closed and left Horizon with a 57.06% relevant interest in Cue following completion of the pre‑bid acquisition and acceptances under its offer.

Read more: Echelon receives A$15.7m from Cue share sale
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Australian budget runs smaller-than-expected May deficit of A$10.9b

  • The Australian Government reported an underlying cash deficit of A$10.9 billion for 2025–26 to 31 May 2026.
  • Receipts were A$1.7 billion above profile while payments were A$5.9 billion below profile, improving the in‑year position.
  • The Government’s published budget still forecasts a full‑year underlying cash deficit of A$28.3 billion and a fiscal deficit of A$50.1 billion.
Read more: Australian budget runs smaller-than-expected May deficit of A$10.9b

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