Alesco Corporation Limited 01 & 02 - Panel Declines to Make Declaration

The Panel has declined to make a declaration of unacceptable circumstances in response to an application dated 24 July 2012 from Alesco Corporation Limited (see TP12/45) and an application dated 1 August 2012 from DuluxGroup (Nominees) Pty Ltd and DuluxGroup Limited (see TP12/50).

Alesco is currently the subject of an off-market bid by DuluxGroup.

The application by Alesco concerned whether an announcement on 23 July 2012 by Dulux was misleading and deceptive because:

Altius Mining Limited - Panel Receives Application

The Panel has received an application in relation to the affairs of Altius Mining Limited from Alexander King (a shareholder of Altius). The application concerns a 1-for-1 fully underwritten pro-rata non-renounceable rights issue to raise approximately $5.19 million, announced by Altius on 2 August 2012.

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.

Minemakers Limited 02R - Panel Receives Review Application

The Panel has received an application from UCL Resources Limited seeking a review of the Panel's decision in Minemakers Limited 02 (TP12/54). The President has consented to the making of the review application.

A review 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.

Minemakers Limited 02

The Panel, Richard Hunt, Jane Sheridan and Heather Zampatti (sitting President), declined to conduct proceedings on an application by UCL Resources Limited in relation to the affairs of Minemakers Limited. The application concerned the disclosure in Minemakers’ target's statement. The Panel considered that the issues raised were for the expert to decide, or were matters that could be addressed in a supplementary bidder's statement, to the extent they were issues, and there was no reasonable prospect that it would declare the circumstances unacceptable.

Austock Group Limited

The Panel, Peter Day, Byron Koster and Peter Scott (sitting President), made a declaration of unacceptable circumstances and orders in relation to the affairs of Austock Group Limited. The application concerned alleged frustration of a proposed bid by Mariner Corporation Limited for all of the shares in Austock Group Limited. The Panel declined to make a declaration as sought in the application, instead making a declaration in relation to the proposed bid announced by the applicant. It ordered Mariner to make an announcement, and not to announce or make another bid, unless ASIC is satisfied the bid is funded.

Minemakers Limited 02 - Panel Receives Application

The Panel has received an application from UCL Resources Limited in relation to the affairs of Minemakers Limited. Minemakers is currently the subject of an off-market takeover bid from UCL, announced on 18 May 2012.

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

Minemakers lodged its target's statement with ASIC on 23 July 2012.

Alesco Corporation Limited 02 - Panel Receives Application

The Panel has received an application from DuluxGroup Limited1 in relation to the affairs of Alesco Corporation Limited. 

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

A sitting Panel has been appointed to consider Alesco 01 and 02 – Geoff Brunsdon, Stephen Creese (President) and Sarah Dulhunty.  The Panel has decided to hear both matters together and conduct proceedings.

The Panel makes no comment on the merits of the application.

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