The Panel has declined to conduct proceedings on a review application dated 23 April 2018 from Caravel Minerals Limited in relation to its affairs. The application sought a review of the initial Panel's decision to decline to make a declaration of unacceptable circumstances in relation to the affairs of Caravel Minerals Limited (see TP18/28).
The Panel considered that if it conducted proceedings it was unlikely to come to a different conclusion to the initial Panel.
The Panel concluded 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 Chelsey Drake, Elizabeth Hallett and Tony Osmond (sitting President).
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 3500