Innate Immunotherapeutics Limited - Panel Receives Application [15/02/2017] The Takeovers Panel

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TP17/04
Wednesday, 15 January 2017

Innate Immunotherapeutics Limited - Panel Receives Application

The Panel has received an application from Mr James Wheeldon in relation to the affairs of Innate Immunotherapeutics Limited.

Details of the application, as submitted by the applicant, are below.

A sitting Panel has not been appointed at this stage and no decision has been made whether to conduct proceedings. The Panel makes no comment on the merits of the application.

Details

Innate Immunotherapeutics Limited is a listed biotechnology company (ASX code: IIL).

Mr Christopher Collins is the largest shareholder of Innate Immunotherapeutics (holding approximately 17%). The applicant submits, based on publicly available information, there is an available inference that Mr Collins may be associated with family members and other shareholders and may have obtained effective control of Innate Immunotherapeutics in contravention of section 606 of the Corporations Act 2001 (Cth).

The applicant seeks an interim order to the effect that Mr Collins disclose to the ASX information including details of any associations he has with any other Innate Immunotherapeutics shareholders. The applicant seeks final orders including an order that Mr Collins divest "such number of shares as would cause him to cease to be in contravention of section 606".

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