The Takeovers Panel advises that it has today received an application from Troy Resources in relation to the issue of shares in Taipan Resources which was the subject of a resolution passed at the Annual General Meeting of Taipan today.

The application relates to a resolution (number 3 on the notice of meeting) that Taipan shareholders considered at today's meeting to approve a proposed issue of up to 25,000,000 shares in Taipan.

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.

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.

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.

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.