The Panel accepted an undertaking from G8 Education Limited (see TP 15/43) on 28 August 2015 in relation to the application dated 26 August 2015 by Affinity Education Group Limited (see TP 15/42).
The undertaking that G8 Education will not issue consideration to, or take any further step to process acceptances from, Taxonomy Pty Ltd or JB Super Fund Pty Ltd into G8 Education’s off market takeover bid for Affinity expires today. The Panel has made interim orders to preserve the effect of that undertaking.
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
Affinity Education Group Limited (Affinity)
Affinity made an application to the Panel dated 26 August 2015 in relation to its affairs.
The Panel ORDERS:
- G8 Education Group Limited (G8) not issue consideration to, or take any further step to process acceptances from, Taxonomy Pty Ltd ACN 119 667 328 or JB Super Fund Pty Ltd ACN 088 983 233 under G8’s off market scrip takeover bid, which opened on or about 21 August 2015.
- 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.
with authority of Geoff Brunsdon
President of the sitting Panel
Dated 21 September 2015