Panel Declines to Consider Further Application in Relation to Majestic Resources' Bid for Namakwa Diamond Company

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The Takeovers Panel has declined to consider a third application concerning the takeover bid announced on 15 March by Majestic Resources for all of the shares in Diamond Company NL. The application is made by Majestic. It alleges deficiencies in the valuation of Namakwa of shares in Namakwa's target's statement.

The Panel considers that the nature of the matters raised in Majestic's application means that they may be appropriately raised by Majestic in a response to Namakwa's target's statement.

The sitting Panel for this application was the same as the two previous applications, Nerolie Withnall (sitting President), Fiona Roche (sitting deputy President) and Chris Photakis.

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