Following the Panel's media release TP05/06 of 13 January 2005, the Panel advises that it has decided to conduct proceedings with respect to certain issues arising from the application from Geoff Woodham Financial Services Pty Ltd in relation to the affairs of LV Living Limited (LVL).
The Panel has not yet concluded its proceedings. In the interim, the Panel has accepted undertakings and made interim orders, the combined effect of which is that, until the conclusion of proceedings:
- GDK Financial Solutions Pty Ltd, Peridon Management Pty Ltd, Mr Robert West , Wesland Investments Pty Ltd, Mr David McLeod, Boundup Pty Ltd and persons who have purchased shares in LVL from Aged Care Properties Pty Ltd (and not opposed the Panel's interim orders) will not dispose of any shares in LVL off-market or, except with 24 hours' prior notice to the Panel, on-market; and
- Retirement Property Solutions Pty Ltd will not dispose of any shares in LVL.
The Panel has made the interim orders with a view to maintaining the status quo (so far as reasonable) until such time as it has determined whether unacceptable circumstances exist and, if so, whether any action is needed to remedy those unacceptable circumstances.
The President of the Panel has appointed Marie McDonald (sitting President), Jennifer Seabrook and Jeremy Schultz as the sitting Panel in these proceedings.
Director, Takeovers Panel
Level 47, 80 Collins Street
Melbourne, VIC 3000
Ph: +61 3 9655 3501