The Panel has declined to conduct proceedings on an application dated 14 February 2017 from Mr James Wheeldon in relation to the affairs of Innate Immunotherapeutics Limited.
The applicant submitted (among other things) that there is an available inference that Mr Collins (a director and shareholder of Innate) may be associated with family members and other shareholders (see TP17/04).
The Panel considered that the applicant did not provide sufficient material to justify the Panel making further enquiries and, in the circumstances of the matter, there was no reasonable prospect that it would make a declaration of unacceptable circumstances. Accordingly, the Panel declined to conduct proceedings.
The sitting Panel was Bruce Cowley, Rodd Levy (sitting President) and Ron Malek.
The Panel will publish its reasons for the decision in due course on its website.
Director, Takeovers Panel
Level 10, 63 Exhibition Street
Melbourne VIC 3000
Ph: +61 3 9655 3597