The Panel advises that it has accepted an undertaking offered by Placer Dome Asia Pacific Limited (Placer Dome) in relation to the broker inducement fee which Placer Dome announced on 29 July 2002 (Australian time) under its takeover offers for AurionGold Limited.

The Panel had concerns that the size of the fee offered by Placer Dome had the possibility of inducing brokers to place undue, and possibly coercive, pressure on their clients to accept the Placer Dome offer.

The Panel advises that it has today received an application from AurionGold Limited. The application seeks a declaration of unacceptable circumstances and interim and final orders in relation to the takeover bid for AurionGold Limited by Placer Dome Asia Pacific Limited.

The concerns raised by AurionGold relate to:

The Panel advises that it has declined to make a declaration of unacceptable circumstances in response to an application on behalf of the directors of Radly Corporation Limited (Receivers and Managers Appointed). The application related to an agreement on 14 June 2002, by the receivers of Radly to sell 19.9% of the shares in Isis Communications Ltd, in equal shares to Investec Australia Pty Ltd and MGB Equity Growth Pty Ltd. Radly held 43% of the shares in Isis. The application was made on 27 June, 2002.

The Panel advises that it has made a declaration of unacceptable circumstances in relation to statements made by Revesco Group Limited in a letter (Letter) which accompanied a supplementary bidder's statement dispatched by Revesco to Ranger Minerals Limited shareholders on 17 June 2002. Ranger applied for a declaration of unacceptable circumstances on 20 June 2002.

The Panel advises that it has received an application on behalf of the directors of Radly Corporation Limited (Receivers and Managers Appointed). The application seeks a declaration of unacceptable circumstances and interim orders in relation to an agreement entered into on 14 June 2002, between the receivers of Radly and both of Investec Australia Pty Ltd and MGB Equity Growth Pty Ltd. The agreement relates to the purchase of 19.9% of the issued capital of Isis Communications Ltd by MGB and Investec.

The Panel advises that it has declined to make a declaration of unacceptable circumstances in relation to a Deed of Undertaking entered into between Ausdoc Group Ltd and ABN AMRO Capital (Belgium) N. V. on 22 May 2002. The decision relates to an application brought by ASIC on 14 June 2002.

The Panel's decision follows undertakings to the Panel by ABN AMRO and Ausdoc waiving ABN AMRO's right to the break fee under the Deed that would be payable if ABN AMRO did not reach or waive its 90% minimum acceptance condition and there had been no rival bidder for Ausdoc.

The Panel advises that it has received an application from Ranger Minerals Limited for a declaration of unacceptable circumstances in relation to a letter and supplementary bidder's statement dispatched by Revesco Group Limited to Ranger shareholders on 17 June 2002.

Since April 2002, Ranger has been the subject of a takeover bid by Revesco. Subsequent to the announcement of the Revesco offer, Ranger entered into an agreement to merge with Perilya Limited by way of scheme of arrangement.

The Panel advises that it has published its reasons for decision in relation to the Normandy 06 matter.

The application was made by AngloGold Ltd for review of the Normandy 04 Panel's decision. In its application AngloGold was seeking a declaration that the Plan of Arrangement between Newmont Mining and Franco-Nevada would have given Franco-Nevada and its shareholders benefits, which were not offered to all other Normandy shareholders.