The Takeovers Panel announced today that it has published a revised version of its Guidance Note on Lock-up devices.

The Takeovers Panel advises that it has made a declaration of unacceptable circumstances and final orders in relation to an application from Pallinghurst Resources Australia Limited (Pallinghurst) seeking review of the Panel's decision of 31 October 2007 to make a declaration of unacceptable circumstances and orders (see TP07/87). The Panel's decision of 31 October 2007 (TP07/85) was in relation to an application received on Monday, 15 October 2007 from Palmary Enterprises Limited in relation to the affairs of Consolidated Minerals Limited (TP07/76).

The Panel advises that it has received an application dated 8 November 2007 from Midwest Corporation Limited (Applicant) in relation to the affairs of the Applicant and an unconditional scrip takeover offer for all of the Applicant's shares by MMX Investments Pty Ltd, a wholly owned subsidiary of Murchison Metals Limited (together Murchison).

The Takeovers Panel has today published the reasons for its decision in relation to an application dated 15 October 2007 from Palmary Enterprises Limited, in relation to the affairs of Consolidated Minerals Limited.

The Panel advises that it has declined to commence proceedings in relation to an application dated 2 November 2007 from Panga Pty Ltd (Applicant) in relation to the affairs of Financial Resources Limited (Financial Resources) (see TP07/88).

The Panel advises that it has received an application dated 2 November 2007 from Panga Pty Ltd (Applicant) in relation to the affairs of Financial Resources Limited (Financial Resources).

The Panel advises that following a declaration of unacceptable circumstances it made on Wednesday 30 October, 2007, it has made final orders in relation to an application dated 15 October 2007 by Palmary Enterprises Limited (Palmary) in relation to the affairs of Consolidated Minerals Limited (Consolidated Minerals) (TP07/76, TP07/85).

The Panel has declined to commence proceedings on an application dated 19 October 2007 from New Hope Corporation Limited (Applicant) in relation to the affairs of Resource Pacific Holdings Limited (Resource Pacific) (see TP07/81), on the basis of additional information Resource Pacific provided to shareholders.

The Panel advises that it has made a declaration of unacceptable circumstances and currently proposes to make final orders in relation to an application dated 15 October 2007 by Palmary Enterprises Limited (Palmary) in relation to the affairs of Consolidated Minerals Limited (Consolidated Minerals) (TP07/76).