Adavale Resources Limited - Panel Application Withdrawn

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The Panel has consented to a request by Mr Matthew Boysen to withdraw his application to the Panel dated 23 July 2020 in relation to the affairs of Adavale Resources Limited (see TP20/48).

On 29 July 2020, Adavale Resources announced the withdrawal of its previously announced fully underwritten non-renounceable rights issue. The Panel is satisfied that it is not against the public interest to consent to the applicant withdrawing his application.

Given the Panel had not yet made a decision on whether to conduct proceedings, the Panel does not propose to publish reasons in relation to this matter.

The sitting Panel appointed to consider this matter was Ian Jackman SC (sitting President), Kristen Jung and Karen Phin.

Allan Bulman
Director, Takeovers Panel
Level 16, 530 Collins Street
Melbourne VIC 3000
Ph: +61 3 9655 3500