The President of the Panel has made interim orders1 in response to an application dated 17 July 2014 by Ochre Group Holdings Limited in relation to the affairs of Gondwana Resources Limited.
The interim orders provide that:
- the ex-entitlement and record date for the entitlement issue announced by Gondwana on 17 July 2014 are deferred and Gondwana make an ASX announcement to that effect and
- there be no disposal of, transfer of or grant of any security interest over any shares or interests in shares in Gondwana registered in the names of BC Capital Limited, International Business Services Limited, Fern Valley Limited and Finscan Investments Limited.
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.
Director, Takeovers Panel
Level 10, 63 Exhibition Street
Melbourne VIC 3000
Ph: +61 3 9655 3597
Gondwana Resources Limited 02
Ochre Group Holdings Limited made an application to the Panel dated 17 July 2014 in relation to the affairs of Gondwana Resources Limited (Gondwana).
The President ORDERS:
- The ex-entitlement date and record date for the entitlement issue announced by Gondwana on 17 July 2014 are deferred.
- As soon as practicable, Gondwana make an ASX announcement that the ex-entitlement date and record date referred to in order 1 have been deferred to dates to be determined.
- There be no disposal of, transfer of or grant of any security interest over any shares or interests in shares registered in the names of the shareholders in Gondwana set out in Schedule A.
- These interim orders have effect until the earliest of:
- further order of the Panel
- the determination of the proceedings and
- 2 months from the date of these interim orders.
BC Capital Limited
International Business Services Limited
Fern Valley Limited
Finscan Investments Limited
with authority of Vickki McFadden
Dated18 July 2014
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.