Gulf Alumina Limited - Variation of Orders

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The Panel made a declaration of unacceptable circumstances and final orders on 11 March 2016 regarding an application dated 15 February 2016 from Metro Mining Limited in relation to the affairs of Gulf Alumina Limited (see TP16/08 and TP16/15). The Panel's orders were varied on 21 March 2016 (see TP16/16).

On 23 March 2016, Metro announced a variation to the offer consideration. On 24 March 2016, Gulf applied to vary the Panel's orders.

The Panel has made a variation (see Annexure A).

The sitting Panel was Richard Hunt (Sitting President), Andrew Lumsden and Karen Phin.

Allan Bulman
Director, Takeovers Panel
Level 10, 63 Exhibition Street
Melbourne VIC 3000
Ph: +61 3 9655 3597

Annexure A

Corporations Act
Section 657D(3)
Variation of Orders

Gulf Alumina Limited

Pursuant to section 657D(3) of the Corporations Act 2001 (Cth)

The Panel Orders

The final orders made on 11 March 2016, as varied on 21 March 2016, are further varied by adding ", or as varied from time to time" in the definition of 'Metro offer'.

Alan Shaw
with authority of Richard Hunt
President of the sitting Panel
Dated 1 April 2016