Yowie Group Ltd 03 - Panel Application Withdrawn [29/07/2019] The Takeovers Panel

PDF iconPDF 113KB

TP19/44
Monday, 29 July 2019

Yowie Group Ltd 03 - Panel Application Withdrawn

The Panel has consented to a request by Yowie Group Ltd (Yowie) to withdraw its application to the Panel dated 16 July 2019, in relation to its affairs. The application concerned (among other things) proper disclosure in a replacement bidder's statement lodged by Aurora Funds Management Limited (Aurora), as responsible entity of the Aurora Dividend Income Trust, in relation to a takeover bid for Yowie (see TP19/43).

Following the announcement that Aurora will not proceed with its takeover bid for Yowie, the applicant sought the Panel's consent to withdraw its application. The Panel conducted proceedings as it had some concerns in relation to the structure of the bid and disclosures in the replacement bidder's statement in relation to the bid consideration and premium. However, given Aurora's bid will not proceed, the Panel has consented to the applicant withdrawing its application and considers that it is not against the public interest to do so.

The sitting Panel appointed to consider this matter was Robin Bishop (sitting President), Tara Page and Neil Pathak.

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