The Panel has made interim orders with respect to the third application concerning Skywest Limited which was the subject of Panel media release TP 04/54, released on 6 July 2004.
The Panel has received a third application from Skywest Limited dated 06 July 2004 alleging unacceptable circumstances in relation to the off-market takeover bid by CaptiveVision Capital Limited for all the fully paid ordinary shares in Skywest.
The Takeovers Panel has today published the reasons for its decision to consent to the withdrawal of the application from Skywest Limited dated 11 June 2004 alleging unacceptable circumstances in relation to the off-market takeover bid by CaptiveVision Capital Limited for all the fully paid ordinary shares in Skywest.
We were not required to make a decision in relation to the application by Skywest Limited under sections 657A and 657D for a declaration of unacceptable circumstances and final orders. We consented to the application being withdrawn following negotiations between Skywest and CVC resulting in CVC providing an undertaking to Skywest which substantially provided Skywest with the relief sought in the application.
The Panel has considered the application by Strata Mining Corporation Limited dated 29 June 2004 alleging unacceptable circumstances in relation to the affairs of St Barbara Mines Limited.
The Panel advises that it has concluded the proceeding (the Proceeding) arising from the application from Boswell Filmgesellschaft mbH (Boswell) dated 15 June 2004 alleging unacceptable circumstances in relation to the affairs of Village Roadshow Limited (VRL) and in particular, VRL’s on-market buy-back of ordinary shares, which was initially announced on 28 May 2004
The Panel has received an application from Strata Mining Corporation Limited dated 29 June 2004 alleging unacceptable circumstances in relation to the affairs of St Barbara Mines Limited.
The Panel has consented to the withdrawal of the application from Skywest Limited dated 11 June 2004 alleging unacceptable circumstances in relation to the off-market takeover bid by CaptiveVision Capital Limited for all the fully paid ordinary shares in Skywest.
The Panel has received a second application from Skywest Limited dated 11 June 2004 alleging unacceptable circumstances in relation to the off-market takeover bid by CaptiveVision Capital Limited for all the fully paid ordinary shares in Skywest.