STI-Global Limited - Panel Makes Interim Orders

TP13/052

The Panel has made interim orders1 in response to an application dated 23 October 2013 by Sasser Family Holdings, Inc in relation to the affairs of STI-Global Limited (see TP13/51).

The interim orders adjourn the STI-Global shareholders’ meeting scheduled for 31 October 2013 to a date no earlier than 8 November 2013.

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

Corporations Act
Section 657E
Interim Orders

STI-Global Limited

Sasser Family Holdings, Inc made an application to the Panel dated 23 October 2013 in relation to the affairs of STI-Global Limited (STI-Global).

The Panel ORDERS:

  1. That the STI-Global shareholders’ meeting scheduled for 31 October 2013 is adjourned to a date to be determined by STI-Global that is not earlier than 8 November 2013.
  2. 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 John Fast
President of the sitting Panel
Dated 29 October 2013

1 BACKGROUND: An interim order is designed to maintain the status quo until the Panel can consider the application in detail. It may be made by the President or a sitting Panel. Often a sitting Panel has not been appointed at the stage of considering the making of an interim order. An interim order does not indicate that the Panel has decided to conduct proceedings or necessarily indicate the merits of an application for a declaration of unacceptable circumstances.

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