The Panel has made some minor changes to the revised Guidance Note 20 following consultation with stakeholders, in particular to provide better guidance for market makers and to provide further guidance on what details are required to be disclosed.

The Panel has declined to make a declaration of unacceptable circumstances in response to an application dated 25 May 2021 from Dr Glen Harold Burgess in relation to the affairs of Sementis Limited.

The Panel has received an application from Dr Glen Harold Burgess in relation to the affairs of Sementis Limited. Sementis is an unlisted public company. The application concerns an entitlement offer being undertaken by Sementis.

Details of the application, as submitted by the applicant, are below.

A sitting Panel has not been appointed at this stage and no decision has been made whether to conduct proceedings. The Panel makes no comment on the merits of the application.

The Takeovers Panel notes the announcement by the Treasurer of the reappointment of 14 members and the appointment of 3 new members to the Panel for terms of 3 years and additional funding for the Takeovers Panel.

The following members have been appointed: Ms Marina Kelman; Ms Sandy Mak and Mr John Sheahan QC (previously a Panel member from 2014 to 2020).

The Panel today released the results of its 2020 stakeholder survey conducted by Ipsos.

91% of stakeholders surveyed were either very satisfied or somewhat satisfied with the Panel, with stakeholders also highly satisfied with: