The Takeovers Panel has today published the reasons for its decision in relation to an application from Gunns Limited in relation to the affairs of Auspine Limited.

The Panel announced today that it has published a revised version of its Guidance Note 04, "Remedies and Enforcement".

The Takeovers Panel has today released a draft Guidance Note, and discussion paper, seeking public discussion and comment on the approach which the Panel proposes as to when, and in what circumstances, the use of equity derivatives may constitute unacceptable circumstances. The purpose of the draft Guidance Note is to facilitate discussion among, and obtain feedback from, market participants and investors who may be affected by any guidance which the Panel publishes on equity derivatives, or otherwise have an interest in such guidance.

The Takeovers Panel announces, with regret, the resignation of Mr Nigel Morris from the position of Director of the Panel.

The Takeovers Panel has today published the reasons for its decision in relation to an application dated Monday, 25 June 2007 from Dolphete Pty Ltd, in relation to the affairs of Becker Group Limited.

The Takeovers Panel has today published the reasons for its decision in relation to an application dated Monday, 25 June 2007 from Cleo Holdings Pty Ltd, in relation to the affairs of Accent Resources NL.

The Panel advises that it has made a declaration of unacceptable circumstances and orders in relation to an application dated 13 August 2007 from Pallinghurst Resources Australia Limited (Pallinghurst) in relation to the affairs of Consolidated Minerals Limited (Consolidated Minerals). Pallinghurst currently has made a cash offer for all Consolidated Minerals shares (Pallinghurst Offer). Territory Resources Limited (Territory) has announced that it intends to make a takeover bid for Consolidated Minerals (Proposed Territory Offer).

The Panel advises that it has received an application dated 13 August 2007 from Pallinghurst Resources Australia Limited (Pallinghurst) in relation to the affairs of Consolidated Minerals Limited (CSM). Pallinghurst currently has made a cash offer for all CSM shares.