Panel Members Farewell Simon McKeon with Significant World Vision Donation
On 31 August 2010, Simon McKeon retired from his position as President of the Australian Government Takeovers Panel.
Brockman Resources Limited – Panel Makes Interim Orders
The Acting President of the Panel has made interim orders in response to an application dated 10 January 2011 by Brockman Resources Limited in relation to its affairs.
Viento Group Limited – Declaration of Unacceptable Circumstances
The Panel has made a declaration of unacceptable circumstances (Annexure A) in relation to an application dated 14 December 2010 by Viento Group Limited in relation to its affairs (see TP10/73).
Crane Group Limited - Panel Notes Settlement Between Parties
On 30 December 2010, the Panel received an application from Crane Group Limited for an interim order restraining dispatch of a bidder's statement by Fletcher Building (Australia) Pty Ltd in relation to a bid for Crane Group. Crane Group and Fletcher Building were able to negotiate changes to the bidder's statement without involvement of the Panel. Therefore it was not necessary to make an interim order.
Brockman Resources Limited - Panel Receives Application
The Panel has received an application from Brockman Resources Limited in relation to its affairs. Brockman is currently the subject of an off-market takeover bid by Wah Nam International Holdings Limited, announced on 10 November 2010.
Vesture Limited 02 - Panel Publishes Reasons
The Panel today published the reasons for its decision on an application dated 10 December 2010 from Prudential Investment Company of Australia Pty Ltd in relation to Vesture Limited.
Vesture Limited 02
The Panel, Geoff Brunsdon (sitting President), Garry Besson and Rodd Levy, declined to make a declaration of unacceptable circumstances in relation to the affairs of Vesture Limited. The application concerned the rights issue announced by Vesture on 16 November 2010. The Panel was not satisfied that the circumstances in relation to the rights issue were unacceptable. The Panel also declined to conduct proceedings on the allegation of association.
CMI Limited - Panel Receives Application
The Panel has received an application from Mr Gerry Pauley and Mr Gordon Elkington, shareholders of CMI Limited, in relation to the affairs of CMI Limited.
Vesture Limited 02 — Decision
The Panel declined to make a declaration of unacceptable circumstances in response to an application dated 10 December 2010 from Prudential Investment Company of Australia Pty Limited.
Panel Consults on Revised Guidance Notes
The Takeovers Panel today published a consultation paper of revised versions of Guidance Notes 6, 13 and 15.