The Takeovers Panel advises that it has today resolved not to make a declaration of unacceptable circumstances in relation to the affairs of Brickworks Ltd and in relation to the affairs of Washington H Soul Pattinson & Company Ltd (Soul Pattinson). This follows an application by GPG (No 4) Pty Ltd on 4 August 2000, for such a declaration.
The Takeovers Panel advises that late last week it received an application by IAMA Ltd for a declaration of unacceptable circumstances in relation to actions and public statements made by persons and companies associated with Futuris Ltd.
However, the application has today been withdrawn, in conjunction with the settlement of an action in the Supreme Court of South Australia. Therefore the Panel has not been required to determine the matter or to make any declaration or orders.
The Takeovers Panel advises that it has today received an application by GPG (No 4) Ltd for a declaration of unacceptable circumstances in relation to the affairs of Brickworks Ltd and in relation to the affairs of Washington H Soul Pattinson & Company Ltd (Soul Pattinson).
The Takeovers Panel today advised that it has consented to the withdrawal of the application received on 28 July, 2000, for a declaration of unacceptable circumstances in relation to actions by a group of persons and companies seeking to alter the board of Pinnacle VRB Ltd, and a request for interim orders preventing those persons voting at a meeting of Pinnacle which had been called for Monday 31 July, 2000.
The Takeovers Panel today advised that late on the afternoon of Friday 28 July, 2000, it received an application from Pinnacle VRB Ltd for a declaration of unacceptable circumstances in relation to actions by a group of persons and companies seeking to alter the board of Pinnacle, and a request for interim orders preventing those persons voting at a meeting of Pinnacle which had been called for Monday 31 July, 2000.
The Takeovers Panel today released two Policy documents for public comment in relation to:
The Takeovers Panel advises that it has published its reasons for its decisions in relation to the offer by Smorgon Distribution Limited (Smorgon ) in its bid for Email Australia Limited (Email ).
Appeal Decision
During consideration of the application, the sitting Panel declined to restrain Smorgon from dispatching its bidder's statement bid for Email. Email appealed this decision under section 657EA.
An application under section 657EA of the Corporations Law by Email Limited for review of a decision to refuse an interim order.
An application under sections 657A, 657D and 657E of the Corporations Law by Email Limited for declaration and orders concerning a takeover bid by Smorgon Distribution Limited for ordinary shares in Email Limited
The Takeovers Panel today advised that it has published its reasons for its decision not to make a declaration of unacceptable circumstances in relation to the bidder's statement of Australian Infrastructure Fund Limited (AIF ) in its bid for Infratil Australia Limited (Infratil ).