Tribune Resources Limited - Panel Makes Interim Orders [28/08/2018] The Takeovers Panel

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TP18/62
Tuesday, 28 August 2018

Tribune Resources Limited - Panel Makes Interim Orders

The Panel has made interim orders1 in response to an application for interim orders dated 20 August 2018 by R Hedley Pty Ltd in relation to the affairs of Tribune Resources Limited.

In order to maintain the status quo while it considers the application, the Panel has ordered that, in the absence of the consent of a member of the Panel, the persons referred to in the interim orders must not dispose of, transfer, charge or otherwise deal with their shares in Tribune.

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

A copy of the interim orders is attached.

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 657E
INTERIM ORDERS

TRIBUNE RESOURCES LIMITED

R Hedley Pty Ltd made an application to the Panel dated 20 August 2018 in relation to the affairs of Tribune Resources Limited.

The Panel ORDERS:

  1. Without the consent of any member of the sitting Panel, each of the persons named in the schedule, and each of their respective associates, must not dispose of, transfer, charge or otherwise deal with any ordinary shares in Tribune Resources Limited in which they have a relevant interest.
  2. These interim orders have effect until the earliest of:
    1. further order of the Panel
    2. the determination of the proceedings and
    3. 2 months from the date of these interim orders.

Schedule

Sierra Gold Ltd
Nimby WA Pty Ltd
Trans Global Capital Ltd
Mr Anthony Billis
Lake Grace Exploration Pty Ltd
Northwest Capital Pty Ltd
Ms Phanatchakorn Wichaikul
Rand Mining Ltd

Bruce Dyer
Counsel
with authority of Christian Johnston
President of the sitting Panel
Dated 28 August 2018


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.