Austral Coal Limited 02RR

These are the Panel’s reasons for its decision to revoke a declaration that circumstances in relation to the affairs of Austral Coal Limited were unacceptable circumstances, which was made on 28 June 2005 in the Austral Coal 02 proceedings, and to make a fresh declaration of unacceptable circumstances.

Austral Coal Limited 02RR - Decision on Orders and Reasons for Decision

The Takeovers Panel has now made orders in the matter of Austral Coal 02RR and released its reasons for making a declaration of unacceptable circumstances and orders in that matter. Under the orders, with one exception everyone who sold Austral Coal shares on ASX from 22 March to 4 April (inclusive) will receive a payment of about 5 cents per share, from an amount of $1.3 million to be paid by Glencore.

Collateral Benefits - Issues Paper for Comment

The Takeovers Panel has today released an Issues Paper seeking public comment on the circumstances in which the Panel may consider whether or not unacceptable circumstances exist in relation to collateral benefits in takeovers transactions. The purpose of the Issues Paper is to facilitate discussion among, and obtain feedback from, market participants and investors who may be affected by any guidance which the Panel publishes on collateral benefits, or otherwise have an interest in such guidance.

Rights Issues - Draft Guidance Note for Comment

The Takeovers Panel has today released a draft Guidance Note seeking public comment on the circumstances in which the Panel may consider whether or not unacceptable circumstances exist in relation to a rights issue which has the potential to have an effect on control of a company1. The purpose of the draft Guidance Note is to facilitate discussion among, and obtain feedback from, market participants and investors who may be affected by any guidance which the Panel publishes on rights issues, or otherwise have an interest in such guidance.

Coopers Brewery Limited 01

These are the Panel’s reasons for concluding proceedings without making a declaration of unacceptable circumstances or orders as a result of Lion Nathan Limited undertaking to deliver a letter to each Coopers Brewery Limited shareholder explaining, as far as practicable, the operation of the pre-emptive rights regime set out in the Coopers Articles of Association as it may operate in the context of the Lion Nathan Australian Pty Limited proposed takeover offer for Coopers.

Coopers Brewery Limited 02

These are the Panel’s reasons for not commencing proceedings following the application by Lion Nathan Limited and Lion Nathan Australia Pty Limited (together “Lion Nathan”) for a declaration of unacceptable circumstances in relation to statements made by the Coopers Brewery Limited (“Coopers”) board regarding the proposed takeover offer by Lion Nathan Australia Pty Limited for Coopers and its recommendation that Coopers shareholders reject the offer.
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