Thursday, 16 March 2006
Rusina Mining NL – Panel Receives Application
Further to the application made on 14 March 2006 by Rusina Mining NL (Rusina) (see TP06/26), the Panel advises that it has made interim orders.
The interim orders include that New Frontier Investment Limited (New Frontier) must not dispose of, or vote, any shares in Rusina that it has at the date of this order; and that Rusina must not register any purported transfer of shares registered to New Frontier and must disregard voting or other rights attached to such shares.
New Frontier must also notify any person whom it knows to be entitled to exercise a right to vote attached to the shares of the voting restriction.The interim orders continue in effect until further order, the application being determined or 15 May 2006 (whichever is earliest).
Director, Takeovers Panel
Level 47, 80 Collins Street
Melbourne VIC 3000
Ph: +61 3 9655 3501
In the matter of Rusina Mining NL
- An application being received in relation to the affairs of Rusina Mining NL (Rusina) on 14 March 2006 under Section 657C of the Corporations Act 2001 for a declaration of unacceptable circumstances and consequential orders (Application);
- The Application being in respect of circumstances arising out of the issue by Rusina of a beneficial ownership tracing notice under Section 672A of the Corporations Act to New Frontier Investment Limited (New Frontier) on 17 February 2006;
- The Application seeking an interim order that New Frontier not transfer, dispose of or otherwise deal with, in any respect, including exercising any rights in relation to, any of its shareholding in Rusina,
Under section 657E of the Corporations Act, the Panel orders:
- New Frontier:
- not to dispose of any shares or interests in shares in Rusina that it has at the date of this order (the shares); and
- not to exercise any voting or other rights attached to the shares.
- New Frontier to give written notice of this order to any person whom it knows to be entitled to exercise a right to vote attached to the shares.
- not to register any purported transfer or transmission of shares registered in the name of New Frontier at the date of this order; and
- to disregard any voting or other rights attached to shares registered in the name of New Frontier at the date of this order.
- These orders continue in effect until the earliest of:
- a further order of the Panel;
- the application being determined; or
- 15 May 2006.
President of the Panel
Dated 16 March 2006