TP25/007
The Panel has declined to conduct proceedings on a review application dated 27 January 2025 from Global Lithium Resources Limited (Global Lithium) in relation to its affairs.
The review application concerned an alleged undisclosed association since at least February 2024 between certain Global Lithium shareholders holding between approximately 30–40% (including Dr Dianmin Chen, one of its directors), in the context of an upcoming annual general meeting scheduled for 13 February 2025 at which resolutions concerning the composition of the board are to be considered (see TP25/05).
The review Panel considered that the application was not brought within two months of the date the allegedly unacceptable circumstances occurred (as required by section 657C(3)(a)) and therefore was out of time. Having regard to the relevant considerations, including those set out in Webcentral Group Limited 031, the review Panel decided not to exercise its discretion to extend the time under section 657C(3)(b).
Accordingly, the application was invalid, being made out of time, and the Panel declined to conduct proceedings.
The sitting Panel was Jon Gidney, Karen Phin and John Sheahan KC (sitting President).
The Panel will publish its reasons for the decision in due course on its website.
Allan Bulman
Chief Executive, Takeovers Panel
Level 16, 530 Collins Street
Melbourne VIC 3000
Ph: +61 3 9655 3500
takeovers@takeovers.gov.au
1 [2021] ATP 4 at [86]
