TP09/093
The Panel has consented to a request by Prudential Investment Company of Australia Pty Limited to withdraw its application to the Panel dated 8 December 2009, in relation to the affairs of Vesture Limited.
The application concerned the proposed placement of shares by Vesture announced on 29 October 2009 which triggered a defeating condition of Prudential’s bid (see TP09/92). On 14 December 2009, Prudential freed its bid from the defeating condition that Vesture not issue or agree to issue shares.
The Panel is satisfied that it is not against the public interest to consent to Prudential withdrawing its application.
The sitting Panel appointed to consider this matter was Alison Lansley (sitting President), John O’Sullivan and Heather Zampatti.
Allan Bulman
Director, Takeovers Panel
Level 10, 63 Exhibition Street
Melbourne VIC 3000
Ph: +61 3 9655 3597
allan.bulman@takeovers.gov.au
