PowerTel Limited 03

These are our reasons for declining to make a declaration of unacceptable circumstances in response to an application by Data Investments Pty Limited on behalf of a syndicate of Australian investors (Roslyndale) under sections 657A and 657D of the Corporations Act 2001 (Cth) (Act) dated 29 July 2003 (Application). Roslyndale had applied to the Takeovers Panel (Panel) for a declaration of unacceptable circumstances and orders in relation to the off-market takeover bid made by TVG Consolidation Holdings SPRL (TVG) for all of the ordinary shares in PowerTel Limited (PowerTel).

PowerTel Limited 02

These are our reasons for declining to make a declaration of unacceptable circumstances on an application (the Application) by Data Investments Pty Limited on behalf of a syndicate of Australian investors (Roslyndale) in relation to the off-market takeover bid made by TVG Consolidation Holdings SPRL (TVG) for all of the ordinary shares in PowerTel Limited (PowerTel). Roslyndale applied for a declaration of unacceptable circumstances under section 657A of the Corporations Act 2001 (Cth) (Act) and orders under section 657D of the Act. Instead of acceding to that application, we accepted the undertakings described below.

PowerTel Limited 01

These are our reasons for declining to make a declaration of unacceptable circumstances in response to an application by TVG Consolidation Holdings SPRL (TVG) under section 657C of the Corporations Act 2001 (Cth) (Act) dated 26 June 2003 (Application). TVG had applied to the Takeovers Panel (Panel) for a declaration of unacceptable circumstances and orders in relation to its takeover bid for PowerTel and a rival proposal by the Roslyndale Syndicate.

Selwyn Mines Limited - Panel Receives Application in Relation to Selwyn Mines Limited (Receivers and Managers Appointed)

The Panel has received an application from Hillgrove Gold Limited (HGL) dated 9 September 2003 alleging unacceptable circumstances in relation to failure of the Receivers and Managers (Receivers) of Selwyn Mines Limited (Receivers and Managers Appointed) (Selwyn) to provide information to the directors of Selwyn in order to enable them to understand the legal status of negotiations between the Receivers and a third party proposing to acquire the assets of Selwyn.

Breakfree Limited 02 - Panel Receives Second Application in Relation to Breakfree Limited

The Takeovers Panel advises that yesterday afternoon it received an application from S8 Limited (S8) pursuant to section 656A of the Corporations Act 2001 (Cth) for a review of a decision by the Australian Securities & Investments Commission to refuse to consent to the early dispatch of S8's amended bidder's statement (which consolidates the original statement dated 19 August 2003 with the supplementary statement dated 2 September 2003) concerning its takeover bid for BreakFree Limited. That bid was announced on 11 July.

Anzoil NL 02

These are our reasons for our decision to uphold the decision in the matter of Anzoil NL (No. 1), to decline to permit Anzoil NL (Anzoil) to withdraw its application for review of that decision and to dismiss that application after varying the orders made at first instance.
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