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.

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.
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