TP08/093
The Panel has consented to a request by Incremental Petroleum Limited to withdraw its application to the Panel dated 23 September 2008, in relation to its affairs (TP08/92). Incremental is the subject of an off-market takeover bid by Cooper Energy Limited.
The application related to alleged deficiencies in Cooper’s bidder's statement, ASX announcements made by Cooper and the terms of the offer. The issues the subject of Incremental’s application have now been resolved to the satisfaction of the parties by additional information included in a replacement bidder’s statement.
The sitting Panel is satisfied that it is not against the public interest to consent to Incremental withdrawing its application.
The Panel encourages parties to resolve matters between themselves wherever possible, even after an application has been received, and is pleased that the parties have been able to do so on this occasion.
Allan Bulman
Director, Takeovers Panel
Level 47, 80 Collins Street
Melbourne, VIC 3000
Ph: +61 3 9655 3597
allan.bulman@takeovers.gov.au
