On 15 April 2025, Jason Tracy and Stephen Edds were appointed Administrators of the Entyr Group by Avior Asset Management No.5 Pty Ltd pursuant to Section 436C of the Corporations Act.  The Administrators' appointment was confirmed at the first meeting of creditors held on 30 April 2025.

On 14 May 2025, the Administrators filed an application with the Federal Court of Australian (Court) seeking orders in particular matters.  The orders requested by the Administrators were made by the Court on 15 May 2025 and are summarised below:

• The Administrators are justified in entering into the funding agreement with Avior Asset Management No. 5 Pty Ltd (Funding Agreement), which provides for a facility of up to $390,000.
• The Administrators are relieved from personal liability under the terms of the Funding Agreement to the extent that there are insufficient funds available from the realisation of the Group’s assets to repay the funding.
• The convening period for the administration has been extended to 31 August 2025, and the Administrators may (with 5 business days’ notice) convene the second meeting of creditors in the administration at any time up to this date.
• The Administrators are authorised to provide notices to creditors by email. The Orders grant liberty to apply to any person who can demonstrate sufficient interest to modify or discharge the Orders on not less than 2 business days' written notice to the Administrators.
   

The administration is continuing to progress.

The Administrators have successfully completed a sale of the Group’s key operational assets, leases and licences, preserving end-of-life tyre recycling capability.

Pursuant to the Court orders discussed above, the convening period in the administration was extended to 31 August 2025. The Administrators issued their report to creditors on 28 August 2025 and convened the second meeting of creditors in the administration for 5 September 2025.  This meeting was adjourned for up to 45 business days to provide additional time to consider a potential Deed of Company Arrangement proposal that was received by the Administrators between issuing our report to creditors and holding the meeting.

The future of each of the companies will be decided by creditors at the reconvened second meeting of creditors.  Creditors will be provided with notice of the reconvened meeting and a supplementary report from the Administrators at least 5 business days prior to the meeting being reconvened.