Midwest Corporation Limited 02

The Panel, Graham Bradley (sitting President), Brett Heading and Alastair Lucas, made a declaration of unacceptable circumstances on the basis that the Harbinger entities failed to comply with s26 of FATA in acquiring Midwest shares over the limit requiring compulsory notification to the Treasurer. This put Sinosteel at an unfair competitive disadvantage in the contest for control of Midwest.

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.

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.
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