The Takeovers Panel advises that it has today released its draft policy on Lock-Up devices for public comment. Comments are due by 14 September. Lock-up devices include Break Fees, No-Shop and No-Talk Agreements, and Pre-Emptive Rights.
The Panel today published its reasons for its decision of 22 May 2001, to decline an application by Alpha Healthcare Ltd (Alpha) in relation to the takeover bid by Ramsay Centauri P/L (Ramsay) for all of the shares in Alpha.
The Panel has today published its reasons for making an interim order restraining the payment by Liquorland to the ex-directors of Australian Liquor Group Ltd (ALQ) and their associates, for ALQ shares sold into Liquorland's takeover bid.
On 17 July 2001, we made an interim order restraining, for 14 days, the payment by Liquorland to the ex-directors of Australian Liquor Group Ltd (ALQ), and their associates, of consideration for ALQ shares sold into Liquorland’s takeover bid. It made no order concerning the payments to other ALQ shareholders, which were due to commence on 18 July, 2001.
These are the reasons for our decision not to make a declaration of unacceptable circumstances on the application by Alpha Healthcare Limited under section 657C of the Corporations Law dated 3 May 2001 for a declaration of unacceptable circumstances and orders in relation to a takeover bid by Ramsay Centauri Pty Limited.
The Takeovers Panel advises that it has today extended by seven days the interim order which the Panel made on 17 July 2001 restraining payment to ex-directors of Australian Liquor Group Ltd (ALQ) and their associates for their shares under the Liquorland Ltd. bid for ALQ.
The Panel has today made an interim order restraining, for 14 days, the payment by Liquorland to the ex-directors of Australian Liquor Group Ltd (ALQ), and their associates, of payment for ALQ shares sold into Liquorland's takeover bid. It made no order concerning the payments to other ALQ shareholders, which are due to commence tomorrow, 18 July, 2001.
The Panel announced today that the acting President of the Panel, Mrs. Nerolie Withnall, has appointed a sitting Panel for the application by Liquorland (Australia) P/L in relation to its bid for Australian Liquor Group Ltd (ALQ). Liquorland has applied for an interim order restraining the payment by it of the bid consideration and for a declaration of unacceptable circumstances and final orders. Liquorland has made the application initially to put the payments on hold until the Panel has determined its application for a declaration and final orders.
The Panel has today received an application by Liquorland (Australia) P/L in relation to its bid for Australian Liquor Group Ltd (ALQ). Liquorland has applied for an interim order restraining the payment by it of the bid consideration and for a declaration of unacceptable circumstances and final orders. Liquorland has made the application initially to put the payments on hold until the Panel has determined its application for a declaration and final orders.
The Panel advises that it has received an application from McWilliam Nominees Pty. Ltd. The application seeks a declaration of unacceptable circumstances and interim and final orders in relation to the sale of approximately 100 million shares in Online Advantage on 3 June 2002. The shares were sold by previous directors or escrowed shareholders of Online Advantage and were sold in two special crossings by Shaw Stockbroking Ltd and Euroz Securities Ltd. The shares constitute approximately 46% of Online Advantage's issued shares.