Freshtel Holdings Limited - President Makes Interim Order [29/08/2016] The Takeovers Panel

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TP16/63
Monday, 29 August 2016

Freshtel Holdings Limited ‑ President Makes Interim Order

The President of the Panel has made an interim order1 in response to an application for an interim order dated 24 August 2016 by Dominet Digital Corporation Pty Ltd in relation to the affairs of Freshtel Holdings Limited (TP16/62).

The interim order prevents Freshtel from dispatching to shareholders, without the consent of the President or sitting Panel (when appointed), the prospectus lodged with ASIC on 19 August 2016 (including any supplementary or replacement prospectus) relating to its proposed non-renounceable entitlement offer.

The interim order has effect until the earliest of further order of the Panel, determination of the proceedings or 2 months from the date of the interim order.

Once a sitting Panel is appointed, the Panel may consider it appropriate to review the interim order.

A copy of the interim order is attached.

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


Corporations Act
Section 657E
Interim Order

Freshtel Holdings Limited

Dominet Digital Corporation Pty Ltd made an application to the Panel dated 24 August 2016 in relation to the affairs of Freshtel Holdings Limited (Freshtel).

The President ORDERS that:

  1. Without the consent of the President or sitting Panel (when appointed), Freshtel not dispatch to shareholders the prospectus lodged with ASIC on 19 August 2016 (including any supplementary or replacement prospectus) relating to its proposed non-renounceable entitlement offer.
  2. This interim order has effect until the earliest of:
    1. further order of the President or the Panel
    2. the determination of the proceedings and
    3. 2 months from the date of this interim order.

Allan Bulman
Director, Takeovers Panel
with authority of Vickki McFadden
President
Dated 29 August 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. Often a sitting Panel has not been appointed at the stage of considering the making of an interim order. 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.