Magna Pacific (Holdings) Limited 01 - Panel Publishes Reasons

The Takeovers Panel (Panel) has today published the reasons for its decision in relation to an application dated 23 February 2007 from Magna Pacific (Holdings) Limited (Magna Pacific) concerning an off-market takeover bid for Magna Pacific by Lionsgate Australia Pty Ltd (see TP07/07).

Details of the Panel's decision were announced on 9 March 2007 (see TP07/09) and 21 March 2007 (see TP07/11).

The Panel's decisions and media releases are available on the Panel's website at www.takeovers.gov.au.

The sitting Panel for these proceedings was Susan Doyle, Braddon Jolley (sitting President) and Karen Wood.

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