The Takeovers Panel has today published the reasons for the decision of the Panel in the proceedings (Proceedings) relating to Data & Commerce Limited (DCL).
The Proceedings arose from an application made on 30 April 2004 by Radio Australia Pty Ltd and its associate Andros Nominees Pty Ltd, alleging that unacceptable circumstances arose as a result of an underwritten non-renounceable rights offer by DCL.
The Proceedings concluded following the issue of a supplementary rights offer prospectus by DCL. The conclusion of the Proceedings were announced on 19 May 2004 in Panel media release TP04/38, available on the Panel’s website at: Media Releases.
The Panel was Andrew Knox, Michael Ashforth and Simon Withers.
The reasons of the Panel in the Proceedings are available on the Panel’s website at: Decisions.
Director, Takeovers Panel
Level 47, 80 Collins Street
Melbourne, VIC 3000
Ph: +61 3 9655 3553