Austral Coal Limited 02 - Panel Commences Proceedings

Release number


The Panel has decided to conduct proceedings with respect to the application from Centennial Coal Company Limited (Centennial) in relation to the affairs of Austral Coal Limited (Austral). As noted in the Panel's Media Release TP05/47 of 6 June 2005, Centennial has alleged that unacceptable circumstances exist in relation to the failure by Glencore International AG to make timely disclosure regarding equity swap arrangements it entered into in relation to more than 5% of Austral.

The President of the Panel has appointed Meredith Hellicar (sitting President), Guy Alexander and Hamish Douglass as the sitting Panel in these Proceedings.

Nigel Morris
Director, Takeovers Panel
Level 47, 80 Collins Street
Melbourne, VIC 3000
Ph: +61 3 9655 3501