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.
These are our reasons for our decision to refuse the application under sections 657C and 657E of the Corporations Law by Troy Resources NL for an interim order that Taipan Resources NL be restrained from proceeding with the extraordinary meeting of its members to be held on 12 October 2000
The Panel announced that it has today received an application for a declaration of unacceptable circumstances in relation to the affairs of Pinnacle VRB Ltd. The application is made by Federation Group Ltd which is currently bidding for all the issued shares of Pinnacle (and two classes of option which Pinnacle has on issue). Federation commenced its scrip offer for Pinnacle on 2 October, 2000.
The Panel has decided not to make an interim order that today's meeting of the shareholders of Taipan Resources NL be adjourned. The meeting of Taipan concerns a proposed merger between Taipan and St Barbara Mines Limited by way of scheme of arrangement. The Panel's decision was made in response to an application by Troy Resources NL received on 11 October 2000 for an interim order under section 657E of the Corporations Law that the meeting be adjourned. Troy has announced that it proposes to make a takeover bid for Taipan.
The Takeovers Panel today published its reasons for not making a declaration of unacceptable circumstances in relation to the affairs of Ashton Mining Limited in response to an application made by De Beers Australia Holdings Pty Ltd on Friday, 29 September. The Panel announced its decision on 03 October, 2000.
The Panel's decision followed an undertaking by Rio Tinto to issue a supplementary bidder's statement making one change to its current bidder's statement.
The Takeovers Panel announced today that it has decided not to conduct proceedings in relation to the application it received on 27 September 2000 from shareholders of St Barbara Mines Ltd for a declaration of unacceptable circumstances in relation to the proposed merger of St Barbara and Taipan Resources NL which was announced on 13 June 2000.
The merger is proposed to be implemented under a scheme of arrangement where St Barbara shareholders and optionholders will receive shares and options in Taipan.
An application under sections 657A and 657D of the Corporations Law by Brickworks Limited for a declaration of unacceptable circumstances and orders concerning a takeover bid by GPG (No. 4) Pty Ltd for all of the ordinary shares in Brickworks Limited