The Panel has received an application from SSH Medical Limited dated 1 September 2003 alleging unacceptable circumstances in relation to an off-market scrip bid by Analytica Limited for all the shares in SSH Medical (Bid).
SSH Medical alleges that unacceptable circumstances arise as a result of:
- various conditions in Analytica's bidder's statement of which the market was not informed when the Bid was announced on 22 July 2003; and
- various omissions from, and misstatements in, the bidder's statement. SSH Medical asserts that these detract from an informed market where SSH shareholders know the identity of all persons proposing to acquire SSH shares.
The Panel has not yet sought the views of other persons potentially involved in the application and has therefore formed no views on the application.
The President of the Panel has yet to appoint a sitting Panel to consider the application.
Director, Takeovers Panel
Level 47 Nauru House, 80 Collins Street
Melbourne VIC 3000
Ph: +61 3 9655 3553