Transurban Group

The Panel, James Dickson, Ian Ramsay (sitting President) and Jennifer Seabrook declined to conduct proceedings on an application by CP2 Limited in relation to the affairs of Transurban Group. The application concerned a proposal from a consortium for Transurban and an underwritten 1 for 11 renounceable rights issue announced by Transurban on 10 May 2010. The proposals did not constitute a genuine potential offer and, even if they did, the actions of the Transurban board did not constitute a frustrating action. The Panel also did not consider that the rights issue would have any material effect on the control of Transurban. Accordingly the Panel considered that there was no reasonable prospect that it would declare the circumstances unacceptable.

Mesa Minerals Limited - Panel Receives Application

The Panel has received an application from Mesa Minerals Limited dated 13 April 2010 in relation to its affairs.

On 1 February 2010, Mighty River International Limited and other Mesa shareholders requisitioned a general meeting of Mesa - proposing resolutions to replace a majority of the current Mesa directors with their own nominees. These resolutions were not approved at a general meeting of Mesa shareholders held on 26 March 2010.

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