The Panel has made an interim order in respect of the application by Australian Style Investments Pty Ltd in relation to the affairs of Multiplex Prime Property Fund (see TP09/78).
Brookfield Multiplex Capital Management Limited, the responsible entity of the Fund, had previously undertaken not to allot or issue units under the entitlement offer (or process any applications under 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things, the proceedings are terminated, or the Panel is given two business days' notice if the undertaking is to be withdrawn (see TP09/81). On 23 October 2009, Brookfield Multiplex and the Fund announced that Brookfield Multiplex had given notice.
The interim order is in similar terms to the undertaking and is to maintain the status quo pending the Panel's determination of the application.
A copy of the interim order is attached.
Director, Takeovers Panel
Level 10, 63 Exhibition Street
Melbourne VIC 3000
Ph: +61 3 9655 3597
Multiplex Prime Property Fund 03
Australian Style Investments Pty Ltd made an application to the Takeovers Panel dated 9 October 2009 in relation to the affairs of Multiplex Prime Property Fund.
The Panel ORDERS:
- Brookfield Multiplex Capital Management Ltd, as responsible entity for the Multiplex Prime Property Fund, not:
- allot or issue units in response to applications received under the entitlement offer announced on 24 August 2009 and
- not process applications under the cash-out facility offer announced on 24 August 2009.
- 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.
with authority of Ian Ramsay
President of the Sitting Panel
Dated 26 October 2009