The Takeovers Panel advises that yesterday evening it declined an application from Troy Resources in relation to the issue of up to 25 million shares in Taipan Resources approved at the Taipan AGM on 30 November. Troy applied on 29 November.

Troy had sought an interim order restraining the issue of the shares, pending the decision of the Panel on Troy's application for a declaration of unacceptable circumstances. Troy asserted that the issue of shares, at this time, would, in the absence of other strong reasons, be for the purpose of impeding Troy's takeover.

The Takeovers Panel advises that it has today affirmed ASIC's decisions to refuse to allow Troy Resources to waive the defeating condition in its bid for Taipan. The Panel received an application from Troy on Friday 8 December, for a review of ASIC's decisions.

On 2 November and 5 December ASIC refused Troy's application to waive the pre-condition, then defeating condition, attached to Troy's bid that a merger between Taipan and St Barbara Mines not proceed. ASIC had previously required the condition to be non-waivable.

The Takeovers Panel advises that it has today affirmed ASIC's decision to grant Taipan Resources an extension of time to dispatch its target's statement in response to Troy's bid for Taipan. The Panel received an application from Troy Resources on Monday 4 December, for a review of ASIC's decision.

The Takeovers Panel advises that yesterday afternoon, it received an application from Troy Resources for a review of an ASIC decision to grant Taipan Resources an extension of time to dispatch its target's statement in response to Troy's bid for Taipan.

The Takeovers Panel advises that it has today received an application from the Australian Securities and Investments Commission in relation to a takeover bid by RP Data Ltd for all the shares in Realestate.com.au Ltd.

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.