Panel Receives Further Application in Relation to St Barbara's Proposed Bid for Taipan Resources

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The Takeovers Panel has received an application for a declaration of unacceptable circumstances in relation to events leading up to and concerning the proposed bid by St Barbara Mines Ltd for Taipan Resources NL. The application was made by Troy Resources on Tuesday 13 February. Troy is also bidding for Taipan.

The application asserts that St Barbara is associated with various other persons who are or have been shareholders in Taipan. The application then goes on to assert the consequences if the association is made out.

Troy has applied for a declaration that unacceptable circumstances exist and for consequent interim orders.

The President of the Panel Mr Simon McKeon is currently assembling a Panel to sit on the matter.

Nigel Morris
Director, Corporations and Securities Panel
Level 47 Nauru House, 80 Collins Street, Melbourne VIC 3000
Ph: +61 3 9655 3501