Takeovers Panel

Primebroker Securities Limited – ASIC Agrees to Delay Revocation Decision

Read more about 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

Read more about 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

Read more about 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

Read more about 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

Read more about 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

Read more about 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

Read more about 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

Read more about 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).

Lion Selection Limited 02 – Undertakings

Read more about Lion Selection Limited 02 – Undertakings

The Takeovers Panel today accepted undertakings in place of interim orders on the application dated 17 June 2008 (see TP08/58) by Lion Selection Limited in relation to its affairs. Lion is the subject of an off-market takeover bid by Indophil Resources NL.

Lion Selection Limited 01

Read more about Lion Selection Limited 01

The Panel, Robyn Ahern, Hamish Douglass and Alison Lansley (sitting President), declined to conduct proceedings after Lion provided additional disclosure in relation to its target's statement and notice of meeting.

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