The Takeovers Panel advises that yesterday afternoon it received an application from S8 Limited (S8) pursuant to section 656A of the Corporations Act 2001 (Cth) for a review of a decision by the Australian Securities & Investments Commission to refuse to consent to the early dispatch of S8's amended bidder's statement (which consolidates the original statement dated 19 August 2003 with the supplementary statement dated 2 September 2003) concerning its takeover bid for BreakFree Limited. That bid was announced on 11 July.
The President of the Panel has appointed the Panel from the BreakFree 01 proceedings (Kathleen Farrell (Sitting President), Peter Cameron (Sitting Deputy President) and Meredith Hellicar) as the sitting Panel to consider the BreakFree 02 application.
At this stage the views of the parties affected by the application have been sought, but not yet received. Consequently the Panel has not yet formed any views in relation to the application or whether to conduct proceedings in relation to it.
Director, Takeovers Panel
Level 47 Nauru House,
80 Collins Street, Melbourne VIC 3000
Ph: +61 3 9655 3553