Najib lawyer Shafee Abdullah's wife Tania Scivetti heads Australian uranium company that has proposed an AUD 20 Million IPO

 by Ganesh Sahathevan 

                    Shafee Abdullah and wife Tania Scivetti



Tania Scivetti, wife of Najib Razak's lead 1MDB lawyer Shafee Abdullah, leads Oz Yellow Uranium Ltd, an Australian company that announced plans for AUD 20 Million IPO on the Australian Stock Exchange in November 2021.  
The deal involved Oz Uranium acquiring assets from ASX listed  Eclipse Metals. The deal seems to have stalled, but not abandoned, for reasons unknown. 









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Petra Capital cuts ties with Oz Yellow in Eclipse Metals (ASX:EPM) uranium sale
ASX News, Materials
ASX:EPM MCAP $34.47M

Josh SmithEditor, Companies & Marketsjoshua.smith@themarketherald.com.au10 February 2022 14:53(AEST)
2 mins






Eclipse Metals (EPM) is thrown a curveball in the planned divestment of its NT uranium assets after Petra Capital, which was meant to help facilitate the deal, drops out
Eclipse is planning to handball its NT assets to Oz Yellow, which will list on the ASX through a $20 million IPO as part of the exchange
Oz Yellow had appointed Petra Capital as lead manager, underwriter and book-runner to its IPO, but Eclipse says Petra has flagged its intentions to terminate its contract with Oz
Eclipse says it is in talks with Oz about what to do moving forward
Eclipse shares were down 6.38 per cent to 4.4 cents

Eclipse Metals (EPM) has been thrown a curveball in the planned divestment of its Northern Territory uranium assets after Petra Capital, which was meant to help facilitate the deal, dropped out.

Eclipse said in an announcement to the ASX that Petra was intending to terminate its deal with Oz Yellow, to whom Eclipse was planning to handball its NT assets. Eclipse did not specify why Petra made the call.

Oz Yellow and Eclipse first announced the divestment plan back in November 2021, with Eclipse agreeing to sell its interests in its Ngalia Basin uranium prospects and the Liverpool Uranium Project to Oz Yellow for a mix of cash and scrip.

As part of the deal, Oz Yellow planned to list on the ASX through a $20 million initial public offering (IPO), with Eclipse to receive 60 per cent of the newly listed entity’s shares in return for the NT assets. Oz Yellow would also pay Eclipse $255,000 in cash and grant the company a 4 per cent net smelter royalty over the tenements.

According to Eclipse, Petra Capital had been appointed sole lead manager, underwriter and book-runner to the Oz Yellow IPO, though the contract between Oz and Petra was conditional.

It seems one or more of the contract conditions must not have been met by Oz Yellow, however, with Petra today scrapping the deal and pulling out of its obligations.

At this stage, it’s uncertain what the loss of Petra Capital means for Eclipse, Oz Yellow and the uranium asset deal. Eclipse said it was in talks with Oz Yellow about how Petra’s decision impacted the potential deal and what the companies planned to do now.

Eclipse said it would update investors as discussions progressed.

The news has dealt a blow to Eclipse’s share price, which was down 6.38 per cent to 4.4 cents at 1:46 pm AEDT.
EPM by the numbers