Strategic Minerals Corporation NL 02R, 03R, 04R and 05R - Fourth Variation of Orders [01/05/2018] The Takeovers Panel

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TP18/32
Tuesday, 1 May 2018

Strategic Minerals Corporation NL 02R, 03R, 04R and 05R - Fourth Variation of Orders

The initial Panel made a declaration of unacceptable circumstances on 1 February 2018 (see TP18/06) which the review Panel varied on 2 March 2018 (see TP18/18).  The review Panel affirmed (see TP18/18) the initial Panel’s final orders (see TP18/12) but later varied those orders (see TP18/25 and TP18/27). 

The review Panel has now made a fourth variation of the final orders (Annexure A) in response to a request by Strategic Minerals for a further extension.  The Panel was only willing to grant an extension because both ASIC and Ms Oma (the applicant in Strategic Minerals Corporation NL 01) supported the Panel doing so.

The effect of the fourth variation is to vary Order 7 to read:

“Within 2 business days after ASIC gives notice to Strategic Minerals that the supplementary target's statement may be dispatched, Strategic Minerals must send a copy of a supplementary target's statement (containing the revised independent expert's report and the revised independent technical expert's report) to the ASX and QGold, lodge it with ASIC and send it to each holder of Strategic Minerals shares (other than QGold).”

Allan Bulman
Director, Takeovers Panel
Level 10, 63 Exhibition Street
Melbourne VIC 3000
Ph: +61 3 9655 3500
takeovers@takeovers.gov.au


Annexure A

CORPORATIONS ACT
SECTION 657D AND 657EA
VARIATION OF ORDERS

Strategic Minerals Corporation NL 02R, 03R, 04R and 05R

Pursuant to sections 657EA(4) and 657D(3) of the Corporations Act 2001 (Cth)

The Review Panel Orders

The final orders made on 15 February 2018 and varied on 4 April 2018, 5 April 2018 and 9 April 2018 are further varied by:

  1. Replacing “As soon as practicable, and at the latest by 30 April 2018” in Order 7 with “Within 2 business days after ASIC gives notice to Strategic Minerals that the supplementary target's statement may be dispatched”.

Bruce Dyer
Counsel
with authority of Peter Day
President of the sitting Panel
Dated 30 April 2018