Benjamin Hornigold Limited 02 and Henry Morgan Limited 02 - Panel Makes Interim Orders

TP18/081

The Panel has made interim orders1 in response to applications for interim orders dated 28 December 2018 by shareholders in Benjamin Hornigold Limited and Henry Morgan Limited2 in relation to the affairs of each company.

Benjamin Hornigold and Henry Morgan are subject to separate off market takeover bids by John Bridgeman Limited.

The interim orders in relation to Benjamin Hornigold (Annexure A) and Henry Morgan (Annexure B) state that John Bridgeman and all officers, agents or persons acting on its behalf must not take any further steps to process any acceptances received under each bid.

The interim orders have effect until the earliest of further order of the Panel, determination of the proceedings or 2 months from the date of the interim orders.

A copy of the interim orders is attached.

Allan Bulman
Director, Takeovers Panel
Level 10, 63 Exhibition Street
Melbourne VIC 3000
Ph: +61 3 9655 3500
takeovers@takeovers.gov.au

Annexure A

Corporations Act
Section 657E
Interim Order

Benjamin Hornigold Limited 02

Jonathan Allan Dixon, Ms Wendy Lynn Cowan, Mrs Susan Jean Dixon ATF Dixon Super Fund, GM Enterprises Australia Pty Ltd ATF GTM Super Fund and Inspired Asset Management Pty Ltd made an application to the Panel dated 28 December 2018 in relation to the affairs of Benjamin Hornigold Limited.

The Panel ORDERS:

  1. John Bridgeman Limited and all officers, agents or persons acting on its behalf must not take any further steps to process any acceptances received under its bid for Benjamin Hornigold Limited.
  2. These interim orders have effect until the earliest of:
    1. further order of the Panel
    2. the determination of the proceedings and
    3. 2 months from the date of these interim orders.

Allan Bulman
Director
with authority of James Dickson
President of the sitting Panel
Dated 31 December 2018

Annexure B

Corporations Act
Section 657E
Interim Order

Henry Morgan Limited 02

Jonathan Allan Dixon, Ms Wendy Lynn Cowan, Mrs Susan Jean Dixon ATF Dixon Super Fund, GM Enterprises Australia Pty Ltd ATF GTM Super Fund and Inspired Asset Management Pty Ltd made an application to the Panel dated 28 December 2018 in relation to the affairs of Henry Morgan Limited.

The Panel ORDERS:

  1. John Bridgeman Limited and all officers, agents or persons acting on its behalf must not take any further steps to process any acceptances received under its bid for Henry Morgan Limited. 
  2. These interim orders have effect until the earliest of:
    1. further order of the Panel
    2. the determination of the proceedings and
    3. 2 months from the date of these interim orders.

Allan Bulman
Director
with authority of James Dickson
President of the sitting Panel
Dated 31 December 2018

1 BACKGROUND: An interim order is designed to maintain the status quo until the Panel can consider the application in detail. It may be made by the President or a sitting Panel. Often a sitting Panel has not been appointed at the stage of considering the making of an interim order. An interim order does not indicate that the Panel has decided to conduct proceedings or necessarily indicate the merits of an application for a declaration of unacceptable circumstances.

2 In relation to both applications - Jonathan Allan Dixon, Ms Wendy Lynn Cowan, Mrs Susan Jean Dixon ATF Dixon Super Fund, GM Enterprises Australia Pty Ltd ATF GTM Super Fund and Inspired Asset Management Pty Ltd

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