On 7 February 2001, we upheld an application by Federation Group Ltd under section 656A of the Corporations Law for review of the decision of the Australian Securities & Investments Commission dated 24 January 2001 under section 655A of the Law in relation to the acquisition by Federation of ordinary shares in Pinnacle VRB Limited which result from the exercise of options acquired by Federation under its takeover bids for Pinnacle.
These are the reasons for our decision to refuse the application of Taipan Resources NL under section 657C of the Corporations Law received on 15 December 2000 for an interim order under section 657E and a declaration of unacceptable circumstances and final orders under sections 657A and 657D in relation to a takeover bid by Troy Resources NL.
The Panel today published reasons for its decision in resolving the Normandy No.7 proceedings. The application was made by Newmont in relation to AngloGold's notice of extension of its bid for Normandy which was sent to Normandy shareholders on Friday, 11 January 2002 and various statements by AngloGold and its officers concerning AngloGold's intentions as to the price offered under the AngloGold bid for Normandy.
The Takeovers Panel advises that it has declined an application for interim orders and a declaration of unacceptable circumstances in relation to the proposed bid by St Barbara Mines Ltd for Taipan Resources NL. The application was made by Troy Resources on Monday 5 February. Troy is also bidding for Taipan.
The application raised three matters for consideration by the Panel :
The Takeovers Panel has received an application for a declaration of unacceptable circumstances in relation to events leading up to and concerning the proposed bid by St Barbara Mines Ltd for Taipan Resources NL. The application was made by Troy Resources on Tuesday 13 February. Troy is also bidding for Taipan.
The application asserts that St Barbara is associated with various other persons who are or have been shareholders in Taipan. The application then goes on to assert the consequences if the association is made out.
The Takeovers Panel advises that it has varied a decision by ASIC in relation to an application by Federation Group Ltd. The application was for a modification of the Corporations Law to allow Federation to exercise options in Pinnacle VRB Ltd which would increase Federation's voting power above the 20% threshold. The Panel received the application on Thursday 25 January.
The Takeovers Panel has received an application for a declaration of unacceptable circumstances in relation to the proposed bid by St Barbara Mines Ltd for Taipan Resources NL. The application was made by Troy Resources on Monday 5 February. Troy is also bidding for Taipan.
The application raises three matters for consideration by the Panel :
The Takeovers Panel has published its reasons for its decision to declare that unacceptable circumstances existed in relation to a takeover bid by two companies associated with RP Data Ltd (RP Data) for all the shares in Realestate.com.au Ltd. The declaration was made on 23 January 2001 in response to an application from the Australian Securities and Investments Commission made on 30 November, 2000.
These are our reasons for our decision to declare that unacceptable circumstances existed in relation to the affairs of realestate.com.au Ltd (Realestate) in connection with the announcement by RP Data Ltd (RP Data) on 5 October 2000 of a bid for Realestate, as a result of an application by the Australian Securities and Investments Commission.1
These are the reasons for our decision to refuse the application under section 657C of the Corporations Law by Taipan Resources NL for an interim order under section 657E, a declaration of unacceptable circumstances under section 657A and final orders under section 657D in relation to the takeover bid by Troy Resources NL.