The Panel’s remade Procedural Rules1 and accompanying Procedural Guidelines take effect from today, 1 April 2021, and will apply in respect of all applications made on or after today’s date. The Panel’s remade Procedural Rules and accompanying Procedural Guidelines are available on the Panel’s website on the Procedural Rules page.
These are the Panel’s reasons for declining the application by AEP Financial Investments Pty Ltd to make a declaration of unacceptable circumstances in relation to the affairs of Wattyl and final orders. The Panel decided not to make a declaration of unacceptable circumstances or final orders having received undertakings to amend the terms of a break fee agreement between Wattyl Limited and Barloworld and having required and approved additional and corrective disclosure by Wattyl to Wattyl shareholders by way of a supplementary target’s statement.
The Panel has released an update of the index of its decisions.
The updated index includes decisions up to and including 31 December 2017, as well as some corrections and further cross-references. It also includes hyperlinks to the reasons. The index can be found at the "Index of Reasons" tab on the Panel's website.
The index will be updated annually. The Panel welcomes any comments on the index via email sent to: takeovers@takeovers.gov.au.
The review Panel has declined to conduct proceedings on a review application from Keybridge Capital Limited in relation to the affairs of Webcentral Group Limited.
The review application sought a review of the decision, in respect of Keybridge’s application to the initial Panel dated 10 January 2021, not to make a declaration of unacceptable circumstances (see TP 21/07).
The review Panel has declined to conduct proceedings on a review application dated 2 February 2021 from Magnolia Equities III Pty Limited in relation to the affairs of The Agency Group Australia Limited. The review application sought a review of the decision in respect of Magnolia’s application to the initial Panel dated 16 December 2020 (see TP 20/87).