The Panel has today published the reasons for its decision in the SSH Medical Limited (SSH) proceedings. The proceedings arose from an application made on 1 September 2003 (Application) by SSH alleging unacceptable circumstances in relation to an off-market scrip bid by Analytica Limited (Analytica) for all the shares in SSH (Bid).

The Panel has declined to commence proceedings in relation to an application by Grand Hotel Group (GHG) dated 30 September 2003 alleging unacceptable circumstances in relation to the affairs of GHG.

The Takeovers Panel advises that it has received an application from BreakFree Limited (BreakFree) pursuant to section 657A of the Corporations Act 2001 (Cth) (the Act) for a declaration of unacceptable circumstances. The application relates to an announcement (the Announcement) on 8 October by S8 Limited (S8) that it would not proceed with its announced scrip takeover bid (the Scrip Bid) for BreakFree, but would make an all cash off market takeover bid for BreakFree.

The Takeovers Panel advises that it has received an application from Fexco Investments Australia Limited (Fexco), Fexco Money Transfer Limited, FEXCO, Mr Geoff Bell and Mr Peter Jess (the Applicants) pursuant to section 656A of the Corporations Act 2001 (Cth) for a review of a decision by the Australian Securities & Investments Commission (ASIC).

In Takeovers Panel media release 90/2003 on 24 September, the Panel advised the status of an application (the Application) from BreakFree Limited (BreakFree) pursuant to section 657A of the Corporations Act 2001 (Cth) (the Act) for a declaration of unacceptable circumstances in relation to an amended bidder's statement (the Bidder's Statement) by S8 Limited (S8) concerning its takeover bid for BreakFree.

The Panel has received an application from Grand Hotel Group dated 30 September 2003 alleging unacceptable circumstances in relation to a meeting of Grand Hotel Trust (GHT) members which has been called by Parker Global Strategies LLC for 22 October 2003.

The Panel today released for public comment a draft Guidance Note on mergers of listed unit trusts and other listed managed investment schemes.

The Panel has today published the reasons for its decision in the BreakFree 02 proceedings (the Proceedings).