BreakFree Limited 01 - Panel Publishes Reasons in Relation to BreakFree Proceedings

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The Panel has today published the reasons for its decision in the proceedings (the Proceedings) relating BreakFree Limited (BreakFree).

The Proceedings arose from an application made on 11 July 2003 by S8 Limited (which has announced a takeover bid for BreakFree).

The Panel concluded the Proceedings following the termination by BreakFree of certain transactions which were the subject of the Proceedings. The Panel announced its decision to conclude the Proceedings in Takeovers Panel Media Release 74/2003 dated 14 August 2003.

The sitting Panel in the BreakFree proceedings was Kathleen Farrell (sitting President), Peter Cameron (sitting Deputy President) and Meredith Hellicar.

The reasons are available on the Panel's website.

George Durbridge,
Director, Takeovers Panel
Level 47 Nauru House, 80 Collins Street
Melbourne VIC 3000
Ph: +61 3 9655 3553