TP10/039
The Panel has consented to a request by Victorworth Proprietary Limited to withdraw its application to the Panel dated 5 July 2010 in relation to the affairs of Cordlife Limited (see TP10/37).
The application concerned the fully underwritten renounceable rights issue announced by Cordlife on 4 June 2010. Cordlife has agreed to terminate the underwriting agreement and will not proceed with the general meeting to approve the underwriting that was scheduled for 9 July 2010. Cordlife will continue with the rights issue, but on a non-underwritten basis.
The Panel is satisfied that it is not against the public interest to consent to the applicant withdrawing its application.
The sitting Panel appointed to consider this matter was Garry Besson, Byron Koster (sitting President) and Sophie Mitchell.
Alan Shaw
Counsel, Takeovers Panel
Level 10, 63 Exhibition Street
Melbourne, VIC 3000
Ph: +61 3 9655 3597
alan.shaw@takeovers.gov.au
