Brisbane Markets Limited - Undertaking [13/01/2016] The Takeovers Panel

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TP16/02
Wednesday, 13 January 2016

Brisbane Markets Limited - Undertaking

The Panel has accepted an undertaking from Produce Markets Queensland Pty Ltd in relation to the application dated 6 January 2016 by Brisbane Markets Limited in relation to its affairs (see TP 16/001).

The undertaking in lieu of interim orders [1] has the effect that Produce Markets will not process acceptances from BML shareholders, issue any further supplementary bidder's statements or take any action under the pre-bid deed dated 9 November 2015, until the determination of the proceedings before the Panel.

A copy of the undertaking is attached.

Alan Shaw
Counsel, Takeovers Panel
Level 10, 63 Exhibition Street
Melbourne VIC 3000
Ph: +61 3 9655 3535
alan.shaw@takeovers.gov.au


Australian Securities and Investments Commission Act (Cth) 2001
Section 201A

Undertaking

Brisbane Markets Limited (BML)

Pursuant to section 201A of the Australian Securities and Investments Commission Act 2001 (Cth), Produce Markets Queensland Pty Ltd ( PMQ) undertakes to the Panel that, until the conclusion of the Panel's deliberations on the application of BML dated 6 January 2016, PMQ will not do any of the following:

  1. Process any acceptances that it receives from BML shareholders under the offer described in the bidder's statement dated 12 November 2015.
  2. Lodge any further supplementary bidder's statement.
  3. Take any action under the pre-bid deed dated 9 November 2015 entered into by PMQ and S & D George Investments Pty Limited.

PMQ further undertakes that, at the conclusion of the Panel's deliberations, it will confirm in writing to the Panel that it has satisfied its obligations under this undertaking.

 

Signed by David F. Jones of Produce Markets Queensland Pty Ltd, 39 Phillip Street, Sydney New South Wales 2000, with the authority of Produce Markets Queensland Pty Ltd

Dated 13th January 2016


[1] BACKGROUND: An interim order is designed to maintain the status quo until the Panel can consider the application in detail. It may be made by the President or a sitting Panel. An interim order does not indicate that the Panel has decided to conduct proceedings or necessarily indicate the merits of an application for a declaration of unacceptable circumstances.