Tully Sugar Limited 01R – Panel Receives Review Application
The Takeovers Panel has received an application from The Maryborough Sugar Factory Limited seeking a review of the Panel's decision in Tully Sugar Limited.
Tully Sugar Limited – Panel Declines to Make Declaration
The Panel has declined to make a declaration of unacceptable circumstances in response to an application dated 25 November 2009 from The Maryborough Sugar Factory Limited in relation to the affairs of Tully Sugar Limited following the provision of a supplementary target's statement.
Vesture Limited - Panel Application Withdrawn
The Panel has consented to a request by Prudential Investment Company of Australia Pty Limited to withdraw its application to the Panel dated 8 December 2009, in relation to the affairs of Vesture Limited.
Vesture Limited - Panel Receives Application
The Panel has received an application from Prudential Investment Company of Australia Pty Ltd in relation to the affairs of Vesture Limited.
Lion-Asia Resources Pte Ltd
The Panel, Braddon Jolley (sitting President), Francesca Lee and Peter Scott, affirmed under s656A the decision of ASIC not to grant Lion-Asia relief to waive the Minimum Acceptance Condition in Lion-Asia's off-market takeover bid for the Polaris shares and options. The Panel was not satisfied that ASIC's policy on joint bids was inapplicable or had been misapplied in the circumstances.
Lion-Asia Resources Pte Ltd – Panel Publishes Reasons
The Panel today published the reasons for its decision on an application dated 23 November 2009 from Lion-Asia Resources Pte Ltd seeking a review of ASIC's decision.
Lion-Asia Resources Pte Ltd – Panel Affirms ASIC Decision
The Panel has affirmed the decision of ASIC not to remove or allow the waiver of a 50.1% minimum acceptance condition which was required as part of relief given in relation to Lion-Asia Resources Pte Ltd's bid for Polaris Metals NL.
Tully Sugar Limited – Panel Receives Application
The Panel has received an application from The Maryborough Sugar Factory Limited in relation to the affairs of Tully Sugar Limited. Tully (an unlisted public company) is the subject of an off-market scrip takeover bid by Maryborough and lodged its target's statement with ASIC on 12 November 2009.
Lion-Asia Resources Pte Ltd – Panel Receives Application
Following the Lion-Asia Resources Pte Ltd announcement, the Panel announces it has received an application from Lion-Asia under s656A of the Corporations Act for a review of an ASIC decision.
Multiplex Prime Property Fund 03R
The Panel, Geoff Brunsdon, Norman O'Bryan AM SC (sitting President) and Jennifer Seabrook declined to conduct proceedings on an application from Australian Style for a review of the initial Panel's decision in Multiplex Prime Property Fund 03. The application concerned a 178:1 pro rata Entitlement Offer by Multiplex and a conditional 'cash-out' facility for unit holders who chose not to take up their entitlement. The review Panel agreed with the initial Panel's decision and did not think there was any reasonable likelihood that the review application would result in a different outcome.