The Takeovers Panel (the Panel) has today published its reasons for its decision in relation to an application from Anzon Australia Limited (Anzon) lodged on 19 April 2006 (see TP06/39).

The Takeovers Panel advises that it has declined to commence proceedings in relation to an application from Queensland Gas Company Limited (Queensland Gas) received on Monday 24 April 2006, concerning the affairs of Sydney Gas Limited (Sydney Gas), and specifically concerning a takeover offer by Queensland Gas for all the shares in Sydney Gas and a recapitalisation plan announced by Sydney Gas on 7 April 2006 (Recapitalisation Plan).

The Takeovers Panel advises that it has received an application dated 26 April 2006 from Alinta Limited and its wholly owned subsidiary Alinta Group Holdings Pty Ltd (together Alinta), for review, under section 657EA of the Corporations Act, of the decision made by the Panel in the Alinta Limited 01 proceedings.

The Panel advises that it has considered the application by Anzon Australia Limited in relation to an off-market takeover offer for Nexus Energy Limited dated 19 April 2006 (see TP06/39).

The Takeovers Panel advises that it has received an application from Queensland Gas Company Limited (QGC), in relation to a takeover offer by QGC for all the shares in Sydney Gas Limited (SGL).

The Panel advises that it has consented to a request by Toll Holdings Limited to withdraw its application dated 8 April 2006.

The Takeovers Panel advises that it has 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 (AGL) in relation to the bid (AGL Offer) by AGL for Alinta Limited (Alinta) and the bid by Alinta Group Holdings Pty Limited for AGL (Alinta Offer).

The Panel advises that it has received an application dated 19 April 2006 from Anzon Australia Limited in relation to an off-market takeover offer for Nexus Energy Limited. Anzon seeks a declaration of unacceptable circumstances and final orders.

The Takeovers Panel advises that it has accepted an undertaking from Alinta Group Holdings Pty Limited (a wholly owned subsidiary of Alinta Limited) and Alinta Limited in relation to an application dated 3 April 2006 (see TP06/33) by The Australian Gas Light Company in relation to the bid by Alinta for AGL. On the basis of Alinta's undertaking to provide additional and corrective information, the Panel will conclude the proceedings.

The Panel makes the following statement in relation to an application which the Panel received on Saturday, 8 April 2006 from Toll Holdings Limited.