Yowie Group Ltd 02 - Panel Receives Application [12/04/2019] The Takeovers Panel

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TP19/27
Friday, 12 April 2019

Yowie Group Ltd 02 - Panel Receives Application

The Panel has received an application from Yowie Group Ltd in relation its affairs. 

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

The same Panel as in Yowie Group Ltd 01 has been appointed.  No decision has been made whether to conduct proceedings.  The Panel makes no comment on the merits of the application.

Details

For background, see the media release for Yowie Group Ltd 01 (TP19/21).  Yowie submits (among other things) that Keybridge Capital Limited acquired 1,054,148 Yowie shares (between 2 April 2019 and 10 April 2019, Acquisition Shares) in contravention of the 20% takeovers prohibition, because it caused Wilson Asset Management (International) Pty Ltd’s voting power to increase from a starting point that is above 20% and below 90%.

Yowie seeks interim orders to prevent Keybridge from (in effect) voting, selling or otherwise dealing with the Acquisition shares. Yowie seeks final orders including the vesting of the Acquisition Shares in ASIC for sale.

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