Takeovers Panel

Ludowici Limited 01R(a) & (b) - Panel Declines to Conduct Proceedings

Read more about Ludowici Limited 01R(a) & (b) - Panel Declines to Conduct Proceedings

The Panel has declined to conduct proceedings on an application dated 29 February 2012 from The Weir Group PLC and an application dated 1 March 2012 from FLSmidth & Co. A/S, each seeking a review of the Panel's decision in Ludowici Limited 01 (TP12/09).

Ludowici Limited 01R(a) & (b) – Panel Makes Interim Orders

Read more about Ludowici Limited 01R(a) & (b) – Panel Makes Interim Orders

The Acting President of the Panel has made interim orders1 in response to a request dated 5 March 2012 by FLSmidth & Co. A/S in relation to the affairs of Ludowici.

Real Estate Capital Partners USA Property Trust – Panel Receives Application

Read more about Real Estate Capital Partners USA Property Trust – Panel Receives Application

The Panel has received an application from Intelligent Investor Funds Pty Ltd in relation to the affairs of the Real Estate Capital Partners USA Property Trust. The application concerns a 0.98 for 1 renounceable rights issue, announced by the responsible entity1 of Real Estate on 1 March 2012, to raise approximately $20 million at 40 cents per unit.

Ludowici Limited 01R - Panel Makes Interim Orders

Read more about Ludowici Limited 01R - Panel Makes Interim Orders

The Acting President of the Panel has made interim orders in response to request for interim orders by The Weir Group PLC in its review application of the initial Panel’s decision in Ludowici Limited 01 (see TP 12/11).

Ludowici Limited 01R(b) - Panel Receives Additional Review Application

Read more about Ludowici Limited 01R(b) - Panel Receives Additional Review Application

The Panel has received an application from FLSmidth & Co A/S seeking a review of the Panel's decision in Ludowici Limited (TP12/09). On 29 February 2012, the Panel received an application from The Weir Group PLC seeking a review of the same decision (TP12/11).

Ludowici Limited 01R - Panel Receives Review Application

Read more about Ludowici Limited 01R - Panel Receives Review Application

The Panel has received an application from The Weir Group PLC seeking a review of the Panel's decision in Ludowici Limited (TP12/09).

Careers Australia Group Limited – Panel Accepts Undertaking

Read more about Careers Australia Group Limited – Panel Accepts Undertaking

Cirrus Business Investments Limited has provided an undertaking in lieu of the Panel making interim orders in response to an application from Jiggi Investments Pty Ltd and others in relation to the affairs of Careers Australia Group Limited (see TP12/08).

Ludowici Limited – Declaration of Unacceptable Circumstances and Orders

Read more about Ludowici Limited – Declaration of Unacceptable Circumstances and Orders

The Panel has made a declaration of unacceptable circumstances (Annexure A) and final orders (Annexure B) in relation to an application dated 13 February 2012 by The Weir Group PLC in relation to the affairs of Ludowici Limited (see TP12/04).

Careers Australia Group Limited - Panel Receives Application

Read more about Careers Australia Group Limited - Panel Receives Application

The Panel has received an application from shareholders of Careers Australia Group Limited in relation to the affairs of Careers Australia.

RCL Group Limited

Read more about RCL Group Limited

The Panel, Peter Hay (sitting President), Rodd Levy and Nora Scheinkestel declined to conduct proceedings on an application concerning clauses in a financing agreement that gave rise to a "review event' (or "event of default') upon changes to RCL Group Limited's board of directors (or key persons). The applicant submitted that these clauses entrenched the incumbent directors and certain management and acted as a "poison pill'. The Panel considered that there was no reasonable prospect that it would declare the circumstances unacceptable.

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