Nex Metals Explorations Limited 04R - Review Panel Declines to Conduct Proceedings

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The Panel has declined to conduct proceedings on a review application from Nex Metals Explorations Limited (Nex Metals) in relation to its own affairs.

The review application sought a review of the initial Panel’s decision to decline to conduct proceedings in Nex Metals Explorations Ltd 03 (see TP 21/39).

The Panel considered that notwithstanding additional material provided by Nex Metals in the review proceedings, the material provided did not sufficiently establish the existence of the circumstances alleged in the application. 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 Amy Alston, Alex Cartel (sitting President) and John Sheahan QC.

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

Tania Mattei
General Counsel, Takeovers Panel
Level 16, 530 Collins Street
Melbourne VIC 3000
Ph: +61 3 9655 3500