Nexus Energy Limited 01

These are the Panel’s reasons for declining to commence proceedings in relation to an application that the slides from an investor presentation by Nexus Energy Ltd were false and misleading in the context of a takeover bid by Anzon Australia Ltd. The Panel considered that a clarification statement issued by Nexus, the fact that the Nexus target’s statement was due to be delivered within approximately a week, and an analysis of the information in the slides, meant that there was not sufficient basis to commence proceedings.

Sydney Gas Limited 02 - Panel Declines to Commence Proceedings

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).

Alinta Limited 02

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.
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