Ludowici Limited 01 - Compensation update

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The Panel made a declaration (28 February 2012) and final orders (28 February 2012, varied on 15 March 2012 - see TP12/19) following an application from The Weir Group PLC in relation to the affairs of Ludowici Limited.

On 2 April 2012, FLSmidth & Co. A/S requested a variation to the final orders to extend the time in which FLS must appoint an Arbitrator to assess claims for compensation. After seeking submissions from the parties, the Panel varied the final orders to provide FLS an additional business day to appoint the Arbitrator (see Annexure A).

The Panel has been informed that today FLS has appointed The Hon. Mr Roger Gyles QC as Arbitrator. FLS is required by Wednesday 11 April 2012 to publish a notice1 approved by the Panel explaining (among other things) how an affected shareholder can lodge a claim for compensation (see paragraph 8 of the Panel's orders). The notice must also be published on ASX.

Allan Bulman
Director, Takeovers Panel
Level 10, 63 Exhibition Street
Melbourne VIC 3000
Ph: +61 3 9655 3500

1The notice must be published in one newspaper in every state and territory (and a newspaper with national circulation)

Corporations Act
Section 657D(3)
Variation of Final Orders

Ludowici Limited

Pursuant to section 657D(3) of the Corporations Act 2001 (Cth)

The Panel orders

The final orders made on 28 February 2012 (as varied by the Panel on 15 March 2012) are varied by deleting the number '15' in order 1 and replacing it with the number '16'.

Allan Bulman
with authority of Graham Bradley AM
Acting President
Dated 2 April 2012