The Panel has decided to conduct proceedings and has made interim orders in relation to the application by Emerald Capital Limited dated 8 January 2009 (see TP09/02).
The interim order is to the effect that Emerald must not deliver any payment due to Fortina Pty Limited under its bid for GoldLink IncomePlus Limited until after the Panel has made a determination in respect of the application. Fortina, as trustee for numerous separate trusts, lodged acceptances in relation to each trust's holding of GoldLink shares on 4 January 2009. When Emerald would otherwise be required to pay Fortina, Emerald is required to place all of the funds that would be payable to Fortina in an interest bearing account until the determination of the application.
Based on the information available, the Panel limited its interim order to Fortina at this stage. A copy of the interim order is attached.
Director, Takeovers Panel
Level 47, 80 Collins Street
Melbourne, VIC 3000
Ph: +61 3 9655 3597
In the matter of GoldLink IncomePlus Limited 04
Emerald Capital Limited made an application to the Panel dated 8 January 2009 in relation to the affairs of GoldLink IncomePlus Limited.
The Panel ORDERS that:
- Emerald establish an interest bearing bank account for the sole purpose of carrying out these interim orders
- at the time the consideration under its bid is to be paid to each person named in the Schedule, Emerald deposit in the account the consideration payable to that person pursuant to their acceptance of Emerald's offer
- the funds in the account be released by Emerald in accordance with the Panel's determination of the proceedings
These interim orders have effect until the earliest of:
- further order of the Panel
- the determination of the proceedings and
- 2 months from the date of these interim orders.
Fortina Pty Ltd ACN 133 592 631
with authority of Karen Wood
President of the Sitting Panel
Dated 14 January 2009