Sirtex Medical Limited - Panel Publishes Reasons in Relation to Sirtex Medical

The Panel has today published its reasons for declining to make a declaration of unacceptable circumstances in relation to the affairs of Sirtex Medical Limited. The application was made by Hunter Hall Investment Management Limited (in its capacity as responsible entity for the Australian Value Trust, the Value Growth Trust and the International Ethical Fund). Hunter Hall made the application on 17 April 2003 and the Panel announced its decision on 14 May 2003.

PowerTel Limited - Panel Declines to Commence Proceedings in Relation to Powertel Limited

The Takeovers Panel advises today that it has declined to commence proceedings in relation to an application from TVG Consolidation Holdings SPRL (TVG ). The Panel received the application on Thursday 26 June, seeking a declaration of unacceptable circumstances in relation to the affairs of PowerTel Limited (PowerTel).

Replacement Panel Counsel

The Takeovers Panel is pleased to announce that it has selected Mr. Jeremy Kriewaldt, currently special counsel to Blake Dawson Waldron in Sydney, to fill the role of replacement Counsel while the Panel's current Counsel, Mr. George Durbridge, takes on the role of Director of the Panel Executive for 12 months.

Anaconda Nickel Limited 13

These are the Panel's Reasons for consenting to an application by MP Global to vary the undertaking given to the Anaconda 08 Panel that MP Global would conduct its Rights Offer as far as practicable in accordance with the conditions of the original ASIC Relief granted to MP Global. The Panel consented to MP Global varying the undertaking to allow it to extend its Rights Offer until 2.00 p.m. Sydney time, the following day, Friday 14 February 2003.

Anaconda Nickel Limited 18

These are the Panel's reasons for declining the application by MP Global for a review of the decision by the Anaconda 16 - 17 Panel to make a declaration of unacceptable circumstances in relation to the affairs of Anaconda following the acquisition of 41.5% of the New Shares in Anaconda by MP Global in circumstances where it was only entitled to acquire 35% of the New Shares. The Panel made orders requiring the Excess Shares to be sold by a stockbroker nominated by ASIC.
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