Multiplex Prime Property Fund 03 – Undertaking

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The Panel has accepted an undertaking from Brookfield Multiplex Capital Management Limited in its capacity as responsible entity of the Multiplex Prime Property Fund in relation to the application dated 9 October 2009 by Australian Style Investments Pty Ltd (see TP09/78). The application concerns the Fund's entitlement offer launched on 8 October 2009.

Brookfield Multiplex Capital Management has undertaken not to process any applications under the entitlement offer (or the related cash-out facility) unless, among other things, the proceedings are terminated, or the Panel is given two business days' notice if the undertaking is to be withdrawn.

The entitlement offer opened on 19 October 2009. On the basis of the undertaking, the Panel considered it did not need to make any interim orders at this stage.

The sitting Panel in this matter is Stephen Creese, Sophie Mitchell and Ian Ramsay (sitting President). The Panel makes no comment on the merits of the application.

Allan Bulman
Director, Takeovers Panel
Level 10, 63 Exhibition Street
Melbourne VIC 3000
Ph: +61 3 9655 3597