National Can Industries 01 - Initial Panel Published Reasons
The Takeovers Panel has today published the reasons for the decision of the Initial Panel in the proceedings (the Proceedings) relating to National Can Industries Limited (NCI).
Richfield Group Limited - Panel Decides not to Conduct Proceedings
The Panel has considered the application (Application) by Mr Chak Chew Tan (CC Tan) dated 30 October 2003 alleging that unacceptable circumstances exist in relation to the affairs of Richfield Group Limited (Richfield). It has decided not to conduct proceedings in relation to the Application.
Grand Hotel Group
These are our reasons for declining to commence proceedings in relation to an Application by Grand Hotel Group under section 657C of the Corporations Act 2001 (Cth) for a declaration of unacceptable circumstances under section 657A and associated interim and final orders respectively under sections 657E and 657D.
National Can Industries 01(R) - Review Panel Confirms Initial Panel Decision
The Panel advises that the National Can Industries 01(R) Review Panel (Review Panel) has confirmed the decision of the National Can Industries 01 Panel (Initial Panel) in relation to the affairs of National Can Industries Limited (NCI).
Grand Hotel Group - Panel Publishes Reasons
The Panel has today published the reasons for its decision in relation to an application (Application) by the Grand Hotel Group (GHG) dated 30 September 2003 in relation to its own affairs.
Breakfree Limited 03 & Breakfree Limited 04 Proceedings – Conclusion of Both Proceedings
In Takeovers Panel Media Release 106 (the Media Release) dated 27 October 2003, the Panel announced that it had made a declaration of unacceptable circumstances (the Declaration) in the BreakFree 04 proceedings in relation to an announcement (the Announcement) by S8 Limited (S8) on 8 October that it would not proceed to make offers under its scrip takeover bid (the Scrip Proposal) for BreakFree Limited (BreakFree) which was announced on 11 July 2003. The resolution of the question of what orders should be made in BreakFree 04 was left to be determined in light of the resolution of the BreakFree 03 proceedings.
Richfield Group Limited - Panel Receives Application
The Panel advises that it has received an application from Mr Chak Chew Tan (Mr CC Tan) and unspecified associated shareholders in Richfield Group Limited (Richfield) for a declaration of unacceptable circumstances under section 657A of the Corporations Act (Act) in relation to the affairs of Richfield.
Breakfree Limited 04(R) - Review Panel Decides to Conduct, and Suspend, Proceedings
The BreakFree 04(R) Panel (the Review Panel) advises that it has met and decided to conduct proceedings in relation to the application by S8 Limited (S8) for a review of the decision in the BreakFree 04 first instance proceedings to make a declaration of unacceptable circumstances in relation to the affairs of BreakFree Limited (BreakFree).
QR Sciences Limited - Panel Accepts Undertaking
The Takeovers Panel has decided not to make a declaration of unacceptable circumstances in relation to the affairs of QR Sciences Ltd (QR Sciences) because of an undertaking given by QR Sciences which resolved any issue of unacceptability which the Panel had observed.
Panel Publishes for Comment Draft Guidelines on Financing Arrangements for Takeovers Bids
The Takeovers Panel has today released for public comment a draft Guidance Note on financing arrangements for takeover bids. The Guidance Note aims to assist bidders and the market to determine the funding arrangements that may give rise to unacceptable circumstances. The Guidance Note also provides some guidance on the obligation to disclose funding arrangements in bidder's statements.