TP05/039
The Takeovers Panel has accepted undertakings (Undertakings) from SteriCorp Limited in response to the application from Stericycle Inc dated 19 April 2005. The application alleges that unacceptable circumstances exist in relation to the current rights issue being undertaking by SteriCorp (Rights Issue).
SteriCorp has undertaken not to issue or allot shares or options until the earlier of:
- 5.00pm on Friday, 29 April 2005; and
- the date on which the Panel declines to commence proceedings or concludes the proceedings without making a declaration of unacceptable circumstances.
The Rights Issue prospectus dated 11 March 2005 indicates that shares and options would be issued on Tuesday, 26 April 2005. The Panel notes that SteriCorp announced today that it had suspended quotation of the shares and options to be issued under the Rights Issue.
The Panel has not yet decided to commence proceedings in this matter.
The President of the Panel has appointed Jennifer Seabrook (sitting President), Carol Buys (Deputy President) and John O'Sullivan as the sitting Panel in this matter.
Nigel Morris
Director, Takeovers Panel
Level 47, 80 Collins Street
Melbourne, VIC 3000
Ph: +61 3 9655 3501
