The Acting President of the Panel has made interim orders in response to a review application dated 24 June 2013 by Jiggi Investments Pty Ltd and others in relation to the affairs of Careers Australia Group Limited (see TP13/24).
The interim orders prevent Cirrus Business Investments Limited from processing acceptances received in relation to its takeover offer for Careers Australia Group Limited, until the earliest of further order of the Panel, the Panel deciding to not conduct proceedings, if the Panel decides to conduct proceedings then the determination of the proceedings, or three businesses day before the last day on which payment can be made under s620(2)(a)(ii).
Once a sitting Review Panel is appointed, the Review Panel may review the interim orders or make further interim orders.
A copy of the interim orders is attached.
Counsel, Takeovers Panel
Level 10, 63 Exhibition Street
Melbourne VIC 3000
Ph: +61 3 9655 3535
Careers Australia Group Limited 02R
Jiggi Investments and other shareholders of Careers Australia Group Limited made a review application to the Panel dated 24 June 2013 in relation to the affairs of Careers Australia Group Limited.
The Acting President ORDERS:
- Cirrus Business Investments Limited not process any acceptances received under its off-market takeover bid for shares in Careers Australia Group Limited.
- These interim orders have effect until the earliest of:
- further order of the Panel
- the Panel deciding not to conduct proceedings
- if the Panel decides to conduct proceedings, the determination of those proceedings and
- 3 business days before the end of the period specified in s620(2)(a)(ii) of the Corporations Act 2001 (Cth).
with authority of Andrew Sisson
Dated 25 June 2013