Wallace Absolute Return Limited – Panel Makes Further Interim Orders

TP10/029

The Panel has made further interim orders that Wallace Absolute Return Limited must not:

  • ask ASX to lift suspension of deferred settlement trading of new shares to be issued under the rights issue announced by Wallace on 5 May 2010 without the prior approval of the Panel and
  • Wallace must not issue or allot any new shares under the rights issue until 5.00 pm on 21 June 20101 without the prior approval of the Panel.

The interim orders have effect until the earliest of further order of the Panel, determination of the proceedings or 2 months from the date of the interim orders.

A copy of the interim orders is attached.

Allan Bulman
Director, Takeovers Panel
Level 10, 63 Exhibition Street
Melbourne, VIC 3000
Ph: +61 3 9655 3597
allan.bulman@takeovers.gov.au

Annexure

Corporations Act
Section 657E
Interim Orders

Wallace Absolute Return Limited

The President made interim orders in relation to Wallace Absolute Return Limited (Wallace) on 8 June 2010.

The Panel ORDERS:

  1. Wallace must not ask ASX to lift suspension of deferred settlement trading of new shares to be issued under the rights issue announced by Wallace on 5 May 2010 without the prior approval of the Panel.
  2. Wallace must not issue or allot any new shares under the rights issue until 5.00 pm on 21 June 2010 without the prior approval of the Panel.
  3. These interim orders have effect until the earliest of:
    1. further order of the Panel
    2. the determination of the proceedings and
    3. 2 months from the date of these interim orders.

Alan Shaw
Counsel
with authority of Geoff Brunsdon
President of the Sitting Panel
Dated 10 June 2010

1 The date issue and allotment of new shares is scheduled to occur under the current rights issue timetable.

Related items