Bullseye Mining Limited 06 - President Makes Interim Order

The President of the Panel has made an interim order1 in response to an application for interim orders dated 21 August 2023 by Mr Desmond Mullan in relation to the affairs of Bullseye Mining Limited (Bullseye).

In summary, the interim order restrains Emerald Resources NL (Emerald) from processing any acceptances received from certain Bullseye shareholders under Emerald’s current takeover bid for Bullseye.  

Bullseye Mining Limited 06 – Panel Receives Application

The Panel has received an application from Mr Desmond Mullan in relation to the affairs of Bullseye Mining Limited (Bullseye). Bullseye is currently the subject of an off‑market takeover bid by Emerald Resources NL (ASX:EMR) (Emerald).

Details of the application, as submitted by the applicant, are outlined below.

A sitting Panel has not been appointed at this stage and no decision has been made whether to conduct proceedings. The Panel makes no comment on the merits of the application.

Benjamin Hornigold Limited 12

Introduction

  1. The Panel, Con Boulougouris, Michelle Jablko (sitting President) and John McGlue, declined to conduct proceedings on an application by Dawney in relation to the affairs of BHD. The application concerned certain conduct of the Directors of BHD and their respective related entities, which Dawney submitted constituted an undisclosed association between those parties.

Panel Publishes Revised Guidance Note 7 – Deal Protection and Guidance Note 19 – Insider Participation in Control Transactions

The Takeovers Panel has today published a revised Guidance Note 7 (GN 7) on Deal Protection (previously named Lock‑up Devices) and a revised Guidance Note 19 (GN 19) on Insider Participation in Control Transactions. This is the fifth issue and third issue of the guidance notes, respectively.

Benjamin Hornigold Limited 12 – Panel Receives Application

The Panel has received an application from Dawney & Co Ltd in relation to the affairs of Benjamin Hornigold Limited (ASX: BHD). 

Details of the application, as submitted by the applicant, are below.

A sitting Panel has not been appointed at this stage and no decision has been made whether to conduct proceedings. The Panel makes no comment on the merits of the application.

Details

BHD is a listed investment company and has three directors, being Michael Glennon, Sulieman Ravell and Gary Miller (the Directors).

A S P Aluminium Holdings Pty Ltd

Introduction

  1. The Panel, Alberto Colla, Elizabeth Hallett (sitting President) and Bruce McLennan, declined to make a declaration of unacceptable circumstances in relation to the affairs of A S P Aluminium Holdings Pty Ltd. The application concerned alleged contraventions of section 606(1)1 by ASP, its Controllers and others and an alleged plot by ASP and others to reduce the number of ASP shareholders below 51 so that the takeovers provisions in Chapter 6 no longer apply to ASP.
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