The Panel advises that it has received an application for a declaration of unacceptable circumstances and orders under sections 657A and 657D(2) of the Corporations Act from BB Sports Pty Ltd (a subsidiary of The News Corporation Ltd). The application relates to the announcement by Magic Millions League Pty Ltd on 17 December 2001 that its proposed takeover offer for the Brisbane Broncos Ltd will not proceed.

The Panel advises that it has today declined to make a declaration of unacceptable circumstances or orders in relation to the application by AngloGold for review of the Normandy 04 Panel's decision. In its application, AngloGold submitted that Newmont had agreed to give more to Franco-Nevada for its 19.9% holding in Normandy than it proposes to offer to Normandy shareholders under its bid for Normandy, because the acquisition of the 19.9% parcel is tied to a proposed merger between Newmont and Franco-Nevada.

The Panel advises that it has today received an application for review of its decision of yesterday 12 December to decline AngloGold's application for a declaration of unacceptable circumstances. AngloGold applied on 29 November for a declaration of unacceptable circumstances.

The Takeovers Panel announced today that it has declined an application by AngloGold for a declaration of unacceptable circumstances in relation to Newmont Mining's proposed bid for Normandy Mining. The application (Normandy 04) related to the value offered indirectly to Franco-Nevada shareholders for their interests in Franco-Nevada's 19.9% holding in Normandy (under the proposed Canadian law Plan of Arrangement) compared to the value offered directly to Normandy shareholders for their Normandy shares under Newmont's bid for Normandy.

The Panel advises that it has today published the reasons for its decision to lift the interim order that it made on 22 November 2001 restraining dispatch of Normandy's target's statement in response to AngloGold' bid. Anglogold had applied to the Panel for interim orders concerning Normandy's target's statement.

The Panel advises that it has declined to make a declaration of unacceptable circumstances in relation to one of the applications by AngloGold concerning the proposed bid by Newmont Mining Corporation for Normandy Mining (the Normandy No. 3 application).

The Takeovers Panel advises that it has today released its final policy on Lock-Up devices. The final version follows public consultation on a draft which the Panel released on 2 August. Lock-up devices include Break Fees, No-Shop and No-Talk Agreements, and Asset Lock-up Agreements.

The Director of the Panel, Mr. Nigel Morris, said that the Panel was pleased to have received very positive market response to the draft, and the underlying policy has changed little, although the text has been reworked in some areas to make it more useable, in response to feedback received.

The Panel advises that it has declined to make a declaration of unacceptable circumstances and final orders in relation to one of the applications by AngloGold concerning the proposed bid by Newmont Mining Corporation for Normandy Mining (the Normandy No.2 application).

The Panel advises that it has reached a decision on the application by Newmont Mining Corporation concerning the modified handling fees that AngloGold announced on 3 December. The modified handling fees were to be payable to brokers whose clients accepted AngloGold's offer for Normandy on or before 11 December 2001.