The Takeovers Panel (Panel) has today released Guidance Note 17 on Rights Issues which provides guidance on the circumstances in which the Panel may consider unacceptable circumstances exist in relation to a rights issue which has the potential to have an effect on control of a company.

The Takeovers Panel (Panel) advises that it has considered the application by Pivot Group Pty Ltd (Pivot), and the application by Saramac Nominees Pty Ltd (Saramac) in relation to the affairs of Axiom Properties Limited (Axiom) (see TP05/89 and TP06/01).

The Takeovers Panel advises that yesterday it declined to commence proceedings in response to an application from Volante Group Limited in relation to the proposed takeover offer by Commander Corporation Pty Limited a subsidiary of Commander Communications Limited, announced on 23 December 2005 ("Offer").

The Takeovers Panel advises that it has received an application from Volante Group Limited ("Volante") in relation to the proposed takeover offer by Commander Corporation Pty Limited ("Commander"), a subsidiary of Commander Communications Limited, announced on 23 December 2005 ("Offer").

The Takeovers Panel advises that it has received an application from Saramac Nominees Pty Ltd, in relation to the affairs of Axiom Properties Limited.

The Takeovers Panel advises that it has received an application dated 31 December 2004 from Network Ltd, a significant shareholder of Rivkin Financial Services Limited, in relation to the affairs of RFS.

The Takeovers Panel advises that it has received an application from Pivot Group Pty Ltd (Pivot), in relation to a draft Notice of Meeting and Explanatory Memorandum prepared by Axiom Properties Limited (Axiom) for a meeting proposed to be held in February 2006.

The Takeovers Panel advises that it has decided not to continue proceedings in relation to two review applications lodged with the Panel by Lion Nathan Limited and Lion Nathan Australia Pty Limited (together Lion Nathan) on 2 December 2005, see TP05/86.

The Takeovers Panel advises that it has received an application dated 7 December 2005 from Lion Nathan Limited and Lion Nathan Australia Pty Limited (together Lion Nathan) for review of the Panel's decision in the Coopers 03 proceedings in respect of the Coopers 03 Panel's decision: a) allowing the resolution to amend the Coopers Constitution to be put at the Extraordinary General Meeting of Coopers Brewery Limited now due to be held on Wednesday 14 December 2005 (Constitution EGM); b) finding no evidence of association between the directors of Coopers and between the directors of Coopers and other shareholders of Coopers; c) not to make any orders regarding the votes of the directors of Coopers and their associates at the Constitution EGM.

The Takeovers Panel advises that it has decided to make an interim order postponing until late next week the holding of an Extraordinary General Meeting of Coopers Brewery Limited. The meeting, which was proposed to be held on 7 December 2005, is to consider certain changes to the Coopers Constitution which would have the effect, if passed, of removing from the Coopers Constitution, an exception for Lion Nathan Limited from the prohibition on rival brewers holding shares in Coopers (Constitution EGM).