TP10/036
The Panel has agreed to a request from the Australian Securities and Investments Commission to defer consideration of whether to conduct proceedings on the application dated 25 June 2010 in relation to the rights issue announced by Coote Industrial Limited on 7 June 2010 (see TP10/34).
The parties have reached an interim agreement in relation to the rights issue. The Panel has been informed that an announcement will be made by the parties to ASX.
The sitting Panel appointed to consider the matter is Stephen Creese (sitting President), Ewen Crouch and Anthony Sweetman. 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
allan.bulman@takeovers.gov.au
