The Panel has made interim orders1 in response to an application for interim orders dated 18 June 2019 by Aurora Funds Management Limited in relation to the affairs of Aurora Absolute Return Fund (ABW).
In order to maintain the status quo while it considers the application, the Panel has ordered that, in the absence of the consent of a member of the Panel, the persons referred to in the interim orders must not dispose of, transfer, charge or otherwise deal with (including exercise any rights in) any units in ABW in which they have a relevant interest.
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 3500
1 BACKGROUND: An interim order is designed to maintain the status quo until the Panel can consider the application in detail. It may be made by the President or a sitting Panel. Often a sitting Panel has not been appointed at the stage of considering the making of an interim order. An interim order does not indicate that the Panel has decided to conduct proceedings or necessarily indicate the merits of an application for a declaration of unacceptable circumstances.
Aurora Absolute Return Fund
Aurora Funds Management Limited made an application to the Panel dated 18 June 2019 (Application) in relation to the affairs of the Aurora Absolute Return Fund (ABW).
The Panel ORDERS:
- Without the consent of any member of the sitting Panel, each of the persons named in the schedule (and referred to in the Application), and each of their respective associates, must not, and must not agree to, dispose of, transfer, charge or otherwise deal with (including exercise any rights in) any units in ABW in which they have a relevant interest.
- 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.
Mr Tim Sandeman Staermose
Wonfair Investments Pty Limited ACN 612 982 939
Mr "Peter" Chor Leng Tan
Mr Zachary David Fraser
Solano Investment LLC
Corporacion Monte de Piedra SA
Primary Securities Limited ACN 089 812 635
Mr Michael Rigoni
Mr Andrew Purcell
with authority of John O'Sullivan
President of the sitting Panel
Dated 26 June 2019