The Panel has today published the reasons for its decisions in the PowerTel 1 to 3 proceedings.

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.

The Takeovers Panel advises that it has decided to affirm the decision by the Australian Securities & Investments Commission to refuse to consent under ASIC Class Order 00/0344 to the early dispatch of an amended bidder's statement from S8 Limited (S8) concerning its takeover bid for BreakFree Limited (BreakFree).

The Takeovers Panel announces that it has adopted the medium neutral citation system currently used by most Australian Federal, State and Territory courts and other tribunals in relation to its own decisions.

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.

The Panel has today published the reasons for its decision in the review proceedings in relation to Anzoil NL.

The Panel has received an application from SSH Medical Limited dated 1 September 2003 alleging unacceptable circumstances in relation to an off-market scrip bid by Analytica Limited for all the shares in SSH Medical (Bid).

The Takeovers Panel welcomes the appointments of Mr Mark Paganin, Partner, Clayton Utz and Mr Simon Withers, former Director, Kleinwort Benson, both located in Western Australia.