The Panel received an application on 30 May 2012 in relation to the affairs of Northwest Properties Limited from Mr Brian Godfrey and Mr Shane Thompson (both current directors of Northwest) and Mr Mark Keene (a proposed new director of Northwest). Northwest is an unlisted public company.
The Panel today published the reasons for its decision to consent to a request by Laxey Partners Ltd to withdraw its application to the Panel dated 18 April 2012 (01) and decline to conduct proceedings on an application dated 24 April 2012 from Pelorus Private Equity Limited (02), both of which related to the affairs of MacarthurCook Property Securities Fund.
Details of the Panel's decision can be found at TP12/29.
The Panel's reasons are on the Takeovers website.
The Panel has consented to a request by Laxey Partners Ltd to withdraw its application to the Panel dated 18 April 2012 (01) and declined to conduct proceedings on an application dated 24 April 2012 from Pelorus Private Equity Limited (02), both of which related to the affairs of MacarthurCook Property Securities Fund.
The Panel has received an application from Pelorus Private Equity Limited in relation to the affairs of MacarthurCook Property Securities Fund. The application concerns:
On 2 August 2011, the Panel was served with two Federal Court applications, one by Mrs Ambreen Chaudhri and Data Base Systems Limited (DBS) and the other by Mr Azhar Chaudhri, seeking judicial review of the Panel's decision to accept undertakings in Bentley Capital Limited 01R (see TP11/56 and TP11/57) ("the Federal Court Proceedings").
The Panel has received an application from Laxey Partners Ltd in relation to the affairs of MacarthurCook Property Securities Fund. The application concerns a 13 for 15 non-renounceable rights issue, announced by the responsible entity1 of MacarthurCook (the Responsible Entity) on 20 April 2012, to raise approximately $5.8 million at 3.5 cents per unit.
Details of the application, as submitted by the applicant, are below.
The Takeovers Panel today published a revised version of Guidance Note 18: Bidder's Statements (renamed 'Takeover Documents' to reflect its broadened content).
On 7 December 2011, the Panel issued a consultation draft of Guidance Note 18. It received a submission from ASIC and has taken it into account and made further changes.
This is the last guidance note to be rewritten under the program of reviewing and simplifying the Panel guidance, which included a review of the currency and consistency of the guidance notes.
Some of the more important changes include:
The Panel made a declaration (28 February 2012) and final orders (28 February 2012, varied on 15 March 2012 - see TP12/19) following an application from The Weir Group PLC in relation to the affairs of Ludowici Limited.