Factor Therapeutics Limited - Panel Declines to Conduct Proceedings [18/02/2019] The Takeovers Panel

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TP19/15
Monday, 18 February 2019

Factor Therapeutics Limited - Panel Declines to Conduct Proceedings

The Panel has declined to conduct proceedings on an application from Pura Vida Energy NL dated 6 February 2019 in relation to the affairs of Factor Therapeutics Limited.  The application concerned a placement made by Factor Therapeutics shortly after the applicant and another shareholder gave a s249D notice to the company (see TP19/07).

The Panel concluded there was no reasonable prospect that it would make a declaration of unacceptable circumstances and the applicant had not provided a sufficient body of material to justify the Panel making further enquiries as to the placement.  Accordingly, the Panel declined to conduct proceedings.

The sitting Panel was Christian Johnston, Denise McComish (sitting President) and Rory Moriarty.

The Panel will publish its reasons for the decision in due course on its website.

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