Austral Coal Limited 02(R) - Panel Further Extends Stay of Orders

Release number


The Panel announces today that it has further extended the stay of Orders 1, 2, 3 and 5 of the Orders dated 1 July 2005 in relation to the Austral Coal Limited 02 matter to 22 July 2005 (see Media Release TP05/50).

These orders relate to, respectively, Glencore's disclosure of its swap arrangements with CSFB and ABN AMRO, the Restoration Offer, Glencore's right to close out the Swaps in part if required to give effect to the Restoration Offer, and the advertisement of the Restoration Offer (see Media Release TP05/49).

The Panel would also like to advise that the sitting Panel for the Austral Coal Limited 02 (Review) proceedings comprises, Professor Ian Ramsay (sitting President), Mr. Norman O'Bryan SC (sitting Deputy President) and Mr. David Gonski AO.

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