Axiom Properties Limited 01
These are the Panel’s reasons for making a declaration of unacceptable circumstances and final orders in relation to the affairs of Axiom Properties Limited following applications to the Takeovers Panel by Pivot Group Pty Ltd and Saramac Nominees Pty Ltd. The Panel required Axiom Properties Limited to make additional disclosure to its shareholders of the potential for conflicts of interest which may arise if they approved a proposal by Saramac to provide additional funds to the company by way of subscription, convertible note and options. The Panel required Pivot to amend the agreement it had entered with Axiom, to delete a “No Talk” provision from the agreement, in order to allow Axiom to discuss the rival Saramac Proposal.