Midwest Corporation Limited 02 – Panel Publishes Reasons
The Takeovers Panel today published the reasons for its decision on an application dated 4 June 2008 from Sinosteel Ocean Capital Pty Limited, in relation to its affairs.
InterMet Resources Limited
The Panel, Ian Ramsay (Sitting President), Mike Roche and Heather Zampatti, declined to make a declaration of unacceptable circumstances after Hillgrove agreed to provide further disclosure in a replacement bidder's statement.
Indophil Resources NL
The Panel, Robyn Ahern, John Keeves and Chris Photakis (sitting President), declined to conduct proceedings on the basis that there was insufficient evidence to infer that the Consortium might not have a reasonable basis to expect that it would have sufficient funding to fulfil its obligations under the bid it announced for Indophil.
InterMet Resources Limited – Panel Publishes Reasons
The Takeovers Panel today published the reasons for its decision on an application dated 11 June 2008 from InterMet Resources Limited, in relation to its affairs.
Indophil Resources NL – Panel Declines to Conduct Proceedings and Publishes Reasons
The Panel has declined to conduct proceedings on an application from Xstrata Queensland Limited dated 30 June 2008 in relation to the affairs of Indophil Resources NL (see TP08/66). Indophil is the subject of competing bids by Xstrata and a consortium comprising Mr Richard Laufmann, the Alsons Group and Crosby Capital Limited.
Primebroker Securities Limited – ASIC Agrees to Delay Revocation Decision
As noted in our earlier media release (TP08/65), the revocation of the instrument dated 2 February 2001 was to take effect on 2 July 2008. Given Primebroker Securities Limited's application for a review and stay of ASIC's decision to revoke that instrument, ASIC has agreed on inquiry by the Panel not to implement any aspect of the revocation decision pending the final determination of the application.
Primebroker Securities Limited – Panel Receives Application
The Panel has received an application from Primebroker Securities Limited to review a decision of the Australian Securities and Investments Commission under s656A of the Corporations Act.
Indophil Resources NL - Panel Receives Application
The Takeovers Panel has received an application from Xstrata Queensland Limited in relation to the affairs of Indophil Resources NL. Indophil is the subject of a takeover offer by Xstrata.
MacarthurCook Limited – Panel Receives Application
The Takeovers Panel has received an application from AMP Capital Investors Limited in relation to the affairs of MacarthurCook Limited. AMP has a relevant interest in 18.4% of MacarthurCook through a pre-bid agreement dated 6 June 2008 with Ascalon Capital Managers Limited.
InterMet Resources Limited – Panel Decision
The Panel advises that it has decided not to make a declaration of unacceptable circumstances in response to an application dated 11 June 2008 from InterMet Resources Limited. The application concerned the scrip takeover offer for InterMet by Hillgrove Resources Limited (See TP08/55).