The Panel advises that it has today received an application from Anzoil NL. The application seeks a declaration of unacceptable circumstances and interim and final orders in relation to an alleged contravention by IGM Group Limited and Capersia Pty Ltd of section 606 of the Corporations Act.
The concerns raised by Anzoil in its application include the following:
The Panel advises that today it has decided to decline to make any declaration in relation to an application from Starmore Investments Pty. Ltd. it received on Friday, October 18.
The Panel has considered the submissions in relation to the Winepros application.
The Panel advises that on Friday, October 18, it received an application from Starmore Investments Pty. Ltd. The application seeks a declaration of unacceptable circumstances and interim and final orders in relation to the acquisitions of approximately 16 million shares in Winepros Ltd. in the period 4 to 14 October 2002. The shares were sold by previous significant shareholders in Winepros and were sold via a number of crossings by various stockbrokers. The shares constitute approximately 32% of Winepros' issued shares.
Third Application Resolved
The Panel advises that the circumstances surrounding the third application in relation to the four Colonial First State Property funds (Colonial Funds) have now been resolved. Consequently, the Panel has decided not to make any declaration of unacceptable circumstances in this matter, Colonial 03.
These are our reasons for declining to make a declaration of unacceptable circumstances in response to the application by Mirvac Funds in relation to the proposed merger between Colonial First State Property Trust Group and Commonwealth Property Office Fund and Gandel Retail Trust. We also set out our reasons for declining the application by Mirvac to vary or revoke the modification of Item 7 of section 611 of the Corporations Act.
The Panel advises that it has today published its reasons for decision in the first applications that it received in relation to the Colonial First State Property Trust Group (Colonial Funds).
The Takeovers Panel welcomes the appointment of the following members of the mergers and acquisitions market as members of the Takeovers Panel:
The Takeovers Panel advises that it has published the reasons for its decision in relation to the Ranger Minerals Limited (Ranger) proceedings.
The application for a declaration of unacceptable circumstances and orders was made by Ranger on 20 June 2002. It was in relation to statements made by Revesco Group Limited (Revesco) in a letter from the Chairman of Revesco (Letter) which accompanied a supplementary bidder's statement dispatched by Revesco to Ranger shareholders on 17 June 2002.
The Panel advises that it has reached a decision on interim orders in the third application in relation to the four Colonial First State Property funds which the Panel announced yesterday. The application from the Responsible Entity for the Colonial Funds sought interim orders to restrain Mirvac Funds Ltd processing acceptances under its bid for the Colonial Funds or exercising any voting power in the Colonial Funds in reliance on those acceptances.
The Panel advises that its decision on interim orders is as follows:
The Panel advises that it has received a third application in relation to the four Colonial First State Property funds. The application is from the Responsible Entity for the Colonial Funds and is in relation to Mirvac Funds Limited's takeover bid for the Colonial Funds. The application seeks a declaration of unacceptable circumstances, and interim orders to restrain Mirvac processing acceptances or exercising any voting power in the Colonial Funds in reliance on those acceptances and similar final orders until Mirvac amends its constitution to resolve the issue.