The Takeovers Panel has today published the reasons for its decision not to commence proceedings in relation to an application dated 26 October 2004 by Crescent Gold Limited regarding its affairs.

Details of the Panel’s decision were announced on 2 November 2004 in Panel media release TP04/104, available on the Panel’s website at: Media Releases.

The sitting Panel was Kathleen Farrell, Michael Ashforth and Celia Searle.

The Panel has consented to the request by Health Communication Network Ltd (HCN) to withdraw its application dated 16 November 2004 alleging unacceptable circumstances in relation to a proposed takeover bid by IBA Health Ltd.

The Panel has received an application from Health Communication Network Ltd dated 16 November 2004 alleging unacceptable circumstances in relation to a proposed takeover bid by IBA Health Ltd.

The Takeovers Panel announced today that it has published a revised version of its Guidance Note 11 on Conflicts of Interest.

The Panel has considered the application by Crescent Gold Limited dated 26 October 2004 alleging unacceptable circumstances in relation to its affairs.

The Panel announces that it today has declined to declare that unacceptable circumstances exist in relation to the affairs of Emperor Mines Limited.

The Panel has received an application from Crescent Gold Limited (Crescent) dated 26 October 2004 alleging unacceptable circumstances in relation to the affairs of Crescent.

The Panel in the Skywest Limited 04 proceeding has made a declaration of unacceptable circumstances and final orders in relation to the off-market takeover bid by CaptiveVision Capital Limited for all of the issued shares in Skywest Limited

As previously announced, the Takeovers Panel advises that it has conducted a review of its existing Guidance Note 7 on Lock-up Devices (GN7).

The Panel announces that it is prepared to conclude proceedings in response to an application from CMM Hotel & Retail Investments Pty Ltd (CMM) under section 657C of the Corporations Act in relation to the affairs of Australian Leisure & Hospitality Group Limited (ALH) and the current takeover offer by Bruandwo Pty Ltd for ALH.