CMI Limited 01R – Panel Declines to Conduct Proceedings and Publishes Reasons [15/03/2011] The Takeovers Panel

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TP11/21
Tuesday, 15 March 2011

CMI Limited 01R – Panel Declines to Conduct
Proceedings and Publishes Reasons

The Panel has declined to conduct proceedings on a review application received on 24 February 2011 from Tinkerbell Enterprises Pty Ltd and Ms Leanne Catelan in relation to the affairs of CMI Ltd. 

The applicants sought a review of the decision of the initial Panel to make a declaration of unacceptable circumstances and orders in respect of Tinkerbell’s holding of 9.22% of CMI (see TP15/11 and TP16/11)

The Panel concluded there was no reasonable prospect that it would make a different decision to the decision of the initial Panel.  Accordingly, the Panel declined to conduct proceedings.

The sitting Panel was David Bennett AC QC, Catherine Brenner and Kathleen Farrell (sitting President).

The Panel's reasons can be found on the Panel's website at www.takeovers.gov.au.

As the matter is now determined, the interim orders are lifted.

Allan Bulman
Director, Takeovers Panel
Level 10, 63 Exhibition Street
Melbourne VIC 3000
Ph: +61 3 9655 3597
allan.bulman@takeovers.gov.au