Auris Minerals Limited - Panel Declines to Conduct Proceedings

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The Panel has declined to conduct proceedings on an application dated 29 March 2018 from Auris Minerals Limited in relation to its affairs.

The application concerned the alleged association of several shareholders, including the Mandevilla Requisitioning Shareholders (see TP18/24), and Mr Rob Martin (a director of Auris) and the disclosure of voting power in substantial holding notices.

The Panel concluded there was no reasonable prospect that it would make a declaration of unacceptable circumstances and Auris had not provided a sufficient body of material to justify the Panel making further enquiries as to the alleged association.  Accordingly, the Panel declined to conduct proceedings.

The Panel notes that Mr Martin accepted he made an oversight in relation to the disclosure of his voting power in Auris and informed the Panel that he would lodge an ASIC Form 604 and Appendix 3Y in relation to his interests.1

The sitting Panel was Tracey Horton AO, Richard Hunt (sitting President) and Bill Koeck.

The Panel will publish its reasons for the decision in due course on its website.

Allan Bulman
Director, Takeovers Panel
Level 10, 63 Exhibition Street
Melbourne VIC 3000
Ph: +61 3 9655 3500

1 - On 5 April 2018 the Mandevilla Requisitioning Shareholders lodged an ASIC Form 604 updating its substantial shareholder notice disclosure, including in relation to Mr Martin's voting power