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 ).
The Takeovers Panel today announced that it currently does not intend to make a declaration of unacceptable circumstances in relation to the bid by Smorgon Distribution Ltd (Smorgon) for all of the ordinary shares in Email Ltd (Email). The Panel said that its final decision is waiting on the release of two supplementary information documents by Smorgon. The first will be sent with Smorgon's bidder's statement, the second will be sent after release of Email's half yearly report. The Panel also ordered that Smorgon was now free to send out its bidder's statement and offers.
The Takeovers Panel Review Panel today announced that it had ordered Smorgon Distribution Ltd (Smorgon) to delay until 5.00p.m. on Friday 2 June the dispatch of the bidder's statement in relation to its offers for all of the ordinary shares in Email Ltd (Email). Amongst other things, Email had applied to the Panel for an interim order under section 657E of the Corporations Law (Law) for dispatch of the bidder's statement to be restrained until Email's application had been fully resolved.
An application under section 657E of the Corporations Law by Email limited for Interim orders.
The Takeovers Panel today announced that it had ordered Smorgon Distribution Ltd (Smorgon) to delay until 5.00 p.m. on 19 May the dispatch of the bidder's statement in relation to its offers for all of the ordinary shares in Email Ltd (Email). Amongst other things, Email had applied to the Panel for an interim order under section 657E of the Corporations Law (Law) for dispatch of the bidder's statement to be restrained.
The first Takeovers Panel Review Panel today announced that it had ordered Smorgon Distribution Ltd (Smorgon) to delay until 5.00 p.m. on Monday 22 May the dispatch of the bidder’s statement in relation to its offers for all of the ordinary shares in Email Ltd (Email). Amongst other things, Email had applied to the Panel for an interim order under section 657E of the Corporations Law (Law) for dispatch of the bidder’s statement to be restrained until Email’s application had been fully resolved.
The Takeovers Panel has received an application in relation to the offer by Smorgon Distribution Ltd (Smorgon) for all of the ordinary shares in Email Ltd (Email), and in relation to Smorgon's proposed bidders' statement in its bid for Email. Ms Nerolie Withnall, acting President of the Corporations and Securities Panel, has appointed three Panel members to constitute the sitting Panel in relation to the application which was made by Email.
In the matter of INFRATIL AUSTRALIA LIMITED
And an application under section 656A of the Corporations Law by AUSTRALIAN INFRASTRUCTURE MANAGEMENT LIMITED and HASTINGS FUNDS MANAGEMENT LIMITED, for review of a decision by the AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION
The Takeovers Panel today advised that it has decided 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 ). The decision means that AIF will be able to dispatch its bidder's statement from the same date, 10 May, 2000, as it would have been able to after it lodged a revised bidder's statement with ASIC on 26 April, 2000.
And an application under section 657C of the Corporations Law by INFRATIL AUSTRALIA LIMITED for a declaration of unacceptable circumstances