Sydney Gas Limited 01 - Panel Publishes Reasons
The Takeovers Panel (the Panel) has today published the reason for its decision in relation to an application from Sydney Gas Limited lodged on 22 February 2006 (see TP06/18).
Volante Group Limited 02 - Panel Publishes Reasons
The Takeovers Panel (the Panel) has today published the reason for its decision in relation to an application from Commander Corporation Limited lodged on 3 February 2006 (see TP06/10).
Volante Group Limited 02
These are the Panel’s reasons for declining an application by Commander in relation to Volante’s target’s statement. The Panel considered that an undertaking from Volante to make additional disclosure about a number of issues, including its success in converting “preferred tenderer” status to confirmed contracts, and clarification concerning the proposed acquisition of a business, would correct any unacceptable circumstances as a result of Volante’s target’s statement.
Sydney Gas Limited 01
These are the Panel’s reasons for making a declaration of unacceptable circumstances in relation to the affairs of Sydney Gas Limited and requiring Queensland Gas Company Limited to issue a replacement bidder’s statement.
Dromana Estate Limited 01 and 01R - Panel Publishes Reasons
The Takeovers Panel (the Panel) has today published the reasons for its decisions in relation to the Dromana Estate Limited 01 and Dromana Estate 01R review applications.
Takeovers Panel — Counsel
The Takeovers Panel is pleased to announce the appointment of Mr Bruce Dyer as Counsel to the Panel while the Panel's Counsel Mr George Durbridge is on long service leave.
Dromana Estate Limited 01
These are the Panel’s reasons for declining the application by two shareholders of Dromana Estate Limited, in relation to a 1 for 1 non-renounceable rights issue to be conducted by Dromana. The Panel initially had some concerns as to a related party underwriting agreement, the level of disclosure concerning the company’s major asset and submissions as to association. However, on the basis of the undertakings offered by the company and advice as to the process of settling the structure of the rights issue, the Panel accepted the undertakings and declined the application.
Dromana Estate Limited 01R
These are the Panel’s reasons for declining, on the basis of an undertaking from Dromana, a review application of Mr John Hempton, a shareholder in Dromana Estate Limited, to make a declaration of unacceptable circumstances in relation to a 1 for 1 non-renounceable rights issue to be conducted by Dromana.
Alinta Limited 01R - Panel Decision
The Takeovers Panel advises that it has made a decision in relation to the application by Alinta Limited for review of the Panel's decision in the Alinta 01 proceedings. The Panel published a Media Release on 23 April 2006 (TP06/41) setting out its decision in the Alinta 01 proceedings. In those proceedings the Panel (Initial Panel) made a declaration of unacceptable circumstances and final orders in relation to one of two applications dated 3 April 2006 from The Australian Gas Light Company in relation to the bid by AGL for Alinta (AGL Offer) and the bid by Alinta Group Holdings Pty Limited for AGL (Alinta Offer).
Axiom Properties Limited 01 - Panel Publishes Reasons
The Takeovers Panel (the Panel) has today published its reasons for its decision in relation to an application from Pivot Group Pty Ltd lodged on 23 December 2005 (see TP05/89) and a further application from Saramac Nominees Pty Ltd lodged on 4 January 2006 (see TP06/01).