Tempus Resources Limited – Panel Declines to Conduct Proceedings

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The Panel has declined to conduct proceedings on an application dated 29 December 2023 from Mr Matthew Bull in relation to the affairs of Tempus Resources Limited.

The application concerned an entitlement issue announced by Tempus on 29 November 2023, being around the time that the applicant and others gave ss 203D and 249D notices to the company, as announced on 18 December 2023 (see TP24/01).

Among other things, the Panel considered there was no material to suggest that the circumstances relating to the entitlement issue are likely to have an effect on the control of Tempus, and that the material supported the conclusion that Tempus had a genuine need for funds. 

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 Alberto Colla, Sarah Rennie and Sharon Warburton (sitting President).

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

Andrew Bubniw
Acting Chief Executive, Takeovers Panel
Level 16, 530 Collins Street
Melbourne VIC 3000
Ph: +61 3 9655 3500