Wollongong Coal Limited 03 – Panel Receives Application
The Panel has received an application from Mr Gordon Elkington (Applicant) in relation to the affairs of Wollongong Coal Limited.
Bullseye Mining Limited 04 – Declaration of Unacceptable Circumstances and Orders
The Panel has made a declaration of unacceptable circumstances (Annexure A) and final orders (Annexure B) in relation to an application dated 28 February 2022 by Hongkong Xinhe International Investment Company Limited (Xinhe) in relation to the affairs of Bullseye Mining Limited (Bullseye) (see TP22/16).
DRA Global Limited – Panel Receives Application
The Panel has received an application from Haydn von Maltitz in relation to the affairs of DRA Global Limited (ASX/JSE: DRA).
Details of the application, as submitted by the applicant, are below.
A sitting Panel has not been appointed at this stage and no decision has been made whether to conduct proceedings. The Panel makes no comment on the merits of the application.
Nex Metals Explorations Ltd 05 – Panel Receives Application
The Panel has received an application from Metalicity Ltd in relation to the affairs of Nex Metals Explorations Ltd. Nex Metals is the subject of an off‑market scrip takeover bid from Metalicity.
Details of the application, as submitted by the applicant, are below.
A sitting Panel has not been appointed at this stage and no decision has been made whether to conduct proceedings. The Panel makes no comment on the merits of the application.
Virtus Health Limited 02 – Panel Declines to Conduct Proceedings
The Panel has declined to conduct proceedings on an application dated 3 March 2022 from BGH Capital Pty Ltd in its capacity as manager or adviser to each of the constituent entities of the BGH Capital Fund I (BGH) in relation to the affairs of Virtus Health Limited (ASX: VRT) (Virtus).
Virtus is the subject of competing control proposals made by BGH and CapVest Partners LLP (CapVest) (see TP22/17).
Bullseye Mining Limited 04 – Undertaking
The Panel has accepted an undertaking from Emerald Resources NL (ASX:EMR) in relation to the application dated 28 February 2022 by Hongkong Xinhe International Investment Company Limited (see TP22/16).
A copy of the undertaking is attached.
Allan Bulman
Chief Executive, Takeovers Panel
Level 16, 530 Collins Street
Melbourne VIC 3000
Ph: +61 3 9655 3500
takeovers@takeovers.gov.au
Lincoln Minerals Limited – Panel Accepts Undertaking and Declines to Conduct Proceedings
The Panel has declined to conduct proceedings on an application from Olary Holdings Limited in relation to the affairs of Lincoln Minerals Limited (LML) (see TP22/13) after accepting an undertaking from LML.
Keybridge Capital Limited 04, 05 & 06 Variation – Invitation to Processed Shareholders to Make Submissions on Proposed Orders Variation
The Panel received an application from WAM Active Limited on 15 September 2021 to vary the orders made in Keybridge Capital Limited 04, 05 & 06 (see TP20/24).
Appointment of Panel Members
The Takeovers Panel notes the announcement by the Treasurer of the reappointment of 13 members and the appointment of 4 new members to the Panel for terms of 3 years, effective 8 March 2022.
Mr Alex Cartel has been reappointed as President and a member of the Panel.
The following members have been appointed: Mr James Burchnall, Mr Alberto Colla, Mr Timothy Longstaff and Mrs Deborah Page AM. The President and the Panel executive warmly welcome the new members.
Virtus Health Limited 02 – Panel Receives Application
The Panel has received an application from BGH Capital Pty Ltd in its capacity as manager or adviser to each of the constituent entities of the BGH Capital Fund I (BGH) in relation to Virtus Health Limited (ASX: VRT) (Virtus). Virtus is the subject of competing control proposals made by BGH and CapVest Partners LLP (CapVest).
Details of the application, as submitted by the applicant, are below.