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).
Lion Selection Limited 02
The Panel, Robyn Ahern, Hamish Douglass and Alison Lansley (sitting President), declined to conduct proceedings following undertakings and receipt of information about proxies given to Indophil for lodgement with Lion that made it clear that the proxies would not affect the outcome of Lion's shareholder meeting. Accordingly, the Panel considered there was no reasonable prospect of it finding there were unacceptable circumstances.
Lion Selection Limited 02 – Panel Declines to Conduct Proceedings and Publishes Reasons
The Panel has declined to conduct proceedings on an application from Lion Selection Limited dated 17 June 2008 in relation to its affairs (see TP08/58).
Midwest Corporation Limited 02 – Declaration of Unacceptable Circumstances and Orders
The Panel today made a declaration of unacceptable circumstances (Annexure A) and final orders (Annexure B) in relation to an application dated 4 June 2008 by Sinosteel Ocean Capital Pty Limited in relation to the affairs of Midwest Corporation Limited (TP08/53).