TP15/024
The Panel made a declaration of unacceptable circumstances on 22 April 2015 and final orders on 30 April 2015 in relation to an application dated 24 March 2015 from ASIC in relation to the affairs of Richfield International Ltd (see TP15/18, TP15/20 and TP15/23).
On 22 May 2015, Poh Choo Lim, Siew Tze Lim, Sinotrans Investment Co Ltd and Grand Orient Capital Co Ltd made additional disclosures to ASX in a form acceptable to ASIC.
Richfield applied to the Panel to vary its orders by, among other things, removing the voting and dealing restrictions on the Richfield shares held by Sinotrans and Grand Orient. The Panel decided to vary its orders (see Annexure A), given the disclosures required by the Panel in its orders have now been made in a form acceptable to ASIC.
The sitting Panel was Peter Day (Sitting President), Christian Johnston and Byron Koster.
Allan Bulman
Director, Takeovers Panel
Level 10, 63 Exhibition Street
Melbourne VIC 3000
Ph: +61 3 9655 3597
allan.bulman@takeovers.gov.au
Annexure A
Corporations Act
Section 657D
Variation of Orders
Richfield International Limited
The Panel made a declaration of unacceptable circumstances on 22 April 2015 and orders on 30 April 2015.
Variation
The Panel orders that the orders made on 30 April 2015 in relation to the matter of Richfield International Ltd be varied by deleting paragraphs 8 to 12 (the voting and dealing orders).
Allan Bulman
Director
with authority of Peter Day
President of the sitting Panel
Dated 25 May 2015
