Azumah Resources Limited - Panel Receives Application

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The Takeovers Panel (Panel) advises that it has received an application dated 26 September 2006 (Application) from Azumah Resources Limited (Azumah) in relation to a meeting of Azumah convened for 3 November 2006 to consider resolutions for the removal and appointment of directors of Azumah.

Azumah submits in the Application that various parties are associated and that there have been contraventions of section 606 and Chapter 6C of the Corporations Act.

The Application seeks a declaration of unacceptable circumstances, interim orders and final orders.

The Panel has not decided whether to conduct proceedings in relation to the Application and makes no comment on the merits of the Application.

The President of the Panel is appointing a sitting Panel to consider the application.

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