The Panel today released its reasons for its decision not to make a declaration of unacceptable circumstances in relation to the affairs of Pinnacle VRB Ltd. The application was made by Federation Group Ltd on 16 October, 2000. Federation is currently bidding for all the issued shares and options of Pinnacle. The Panel announced its decision on 6 November, 2000.
An application under sections 657A, 657D and 657E of the Corporations Law by Federation Group Limited for a declaration and orders in relation to a takeover bid by Federation for all of the ordinary shares in Pinnacle VRB Limited.
- Federation Group's Application
The Takeovers Panel advises that it has today declined an application from Taipan Resources for an interim order to restrain the bidder's statement of Troy Resources in its takeover offer for Taipan.
The application for interim orders related to Taipan's concerns over disclosure by Troy in its bidder's statement.
These are our reasons for our decision to refuse the application under section 657C of the Corporations Law by Troy Resources NL for a declaration of unacceptable circumstances under section 657A and orders under section 657D in relation to the affairs of Taipan Resources NL.
The Takeovers Panel advises that it has today received an application from Taipan Resources in relation to the bidder's statement of Troy Resources dated 2 November.
The application relates to Taipan's concerns over Troy's disclosure in its bidder's statement in relation to Troy's:
The Takeovers Panel has today advised that it has declined to commence proceedings in a further application from Troy Resources in relation to Taipan Resources. The Panel received the application on 26 October 2000.
An application under sections 657A, 657D and 657E of the Corporations Law by Janice Irene Franke, Wordtown Pty Ltd and Gail Ann Oats (Applicants) for a declaration of unacceptable circumstances, and interim and final orders concerning a proposed merger between St Barbara Mines Limited (St Barbara) and Taipan Resources NL (Taipan)
The Panel announced that it has declined to make a declaration of unacceptable circumstances in relation to the affairs of Pinnacle VRB Ltd. The application was made by Federation Group Ltd which is currently bidding for all the issued shares, and two classes of option, of Pinnacle.
The Takeovers Panel has today advised that it has received a further application from Troy Resources NL. The application, under section 657C of the Corporations Law, is for a declaration that voting by St Barbara Mines Ltd on a resolution of the shareholders of Taipan Resources NL to approve a merger between St Barbara and Taipan constituted unacceptable circumstances.
The Takeovers Panel has today released its reasons for its decision not to make an interim order restraining the 12 October meeting of the shareholders of Taipan Resources NL. The Panel announced its decision on 12 October after receiving an application by Troy Resources NL on 11 October 2000 for an interim order under section 657E of the Corporations Law that the meeting be adjourned.