The Panel has accepted an undertaking from Yancoal Australia Limited in relation to the application dated 21 November 2014 by Senrigan Capital Management Ltd and Mr Taylor (see TP14/87).
Yancoal has undertaken not to process applications under the rights offer announced on 10 November 2014 until the earliest of Friday 12 December 2014, order of the Panel otherwise preventing processing and the determination of the proceedings. Should the Panel not have concluded proceedings by 12 December, a further similar undertaking may be sought or an interim order made.
A copy of the undertaking is attached.
Director, Takeovers Panel
Level 10, 63 Exhibition Street
Melbourne VIC 3000
Ph: ++61 3 9655 3500
Australian Securities and Investments Commission Act 2001 (Cth) Section 201A
Yancoal Australia Limited
Yancoal Australia Limited undertakes to the Panel that it will not process any applications received in relation to the rights offer announced by it on 10 November 2014 until the earliest of:
- 5pm on 12 December 2014
- an order of the Panel otherwise preventing processing and
- the determination of the proceedings.
Signed by Baocai ZHANG of Yancoal Australia Limited, L26, 363 George Street, Sydney, NSW 2000
with the authority, and on behalf, of Yancoal Australia Limited
Dated 28th, November, 2014