The Panel announces that it has decided to set aside a decision made by the Australian Securities & Investments Commission (ASIC) to refuse an application by Fexco Investments Australia Limited (FIA), Fexco Money Transfer Limited, FEXCO, Mr Geoff Bell and Mr Peter Jess (together the Applicants) in relation to FIA's takeover bid (the Joint Bid) for Prudential Investment Company of Australia Limited (PICA).

The Panel advises that yesterday it received an application for review of the Panel's decision in relation to the affairs of National Can Industries Limited (NCI).

The Panel advises that it has concluded the proceeding (the Proceeding) arising from the application (the Application) made by Visy Industrial Packaging Holdings Pty Ltd (VIPH) on 19 September 2003 in relation to the affairs of National Can Industries Limited (NCI). The Proceeding concluded following acceptance by the Panel of undertakings provided by NCI and ESK Holdings Pty Ltd (ESK).

The Panel advises that it has concluded the proceeding (the Proceeding) arising from the application (the Application) made by Visy Industrial Packaging Holdings Limited (VIPH) on 19 September 2003 in relation to the affairs of National Can Industries Limited (NCI).

The Takeovers Panel advises that it has received an application from SecQR Limited (SecQR) for a declaration of unacceptable circumstances under section 657A of the Corporations Act (Act) in relation to the affairs of QR Sciences Ltd (QR Sciences).

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).