The Takeovers Panel today advised that late on the afternoon of Friday 28 July, 2000, it received an application from Pinnacle VRB Ltd for a declaration of unacceptable circumstances in relation to actions by a group of persons and companies seeking to alter the board of Pinnacle, and a request for interim orders preventing those persons voting at a meeting of Pinnacle which had been called for Monday 31 July, 2000.
The Takeovers Panel today released two Policy documents for public comment in relation to:
The Takeovers Panel advises that it has published its reasons for its decisions in relation to the offer by Smorgon Distribution Limited (Smorgon ) in its bid for Email Australia Limited (Email ).
Appeal Decision
During consideration of the application, the sitting Panel declined to restrain Smorgon from dispatching its bidder's statement bid for Email. Email appealed this decision under section 657EA.
An application under section 657EA of the Corporations Law by Email Limited for review of a decision to refuse an interim order.
An application under sections 657A, 657D and 657E of the Corporations Law by Email Limited for declaration and orders concerning a takeover bid by Smorgon Distribution Limited for ordinary shares in Email Limited
The Takeovers Panel today advised that it has published its reasons for its decision not to make a declaration of unacceptable circumstances in relation to the bidder's statement of Australian Infrastructure Fund Limited (AIF ) in its bid for Infratil Australia Limited (Infratil ).
The Takeovers Panel today announced that it currently does not intend to make a declaration of unacceptable circumstances in relation to the bid by Smorgon Distribution Ltd (Smorgon) for all of the ordinary shares in Email Ltd (Email). The Panel said that its final decision is waiting on the release of two supplementary information documents by Smorgon. The first will be sent with Smorgon's bidder's statement, the second will be sent after release of Email's half yearly report. The Panel also ordered that Smorgon was now free to send out its bidder's statement and offers.
The Takeovers Panel Review Panel today announced that it had ordered Smorgon Distribution Ltd (Smorgon) to delay until 5.00p.m. on Friday 2 June the dispatch of the bidder's statement in relation to its offers for all of the ordinary shares in Email Ltd (Email). Amongst other things, Email had applied to the Panel for an interim order under section 657E of the Corporations Law (Law) for dispatch of the bidder's statement to be restrained until Email's application had been fully resolved.
An application under section 657E of the Corporations Law by Email limited for Interim orders.
The Takeovers Panel today announced that it had ordered Smorgon Distribution Ltd (Smorgon) to delay until 5.00 p.m. on 19 May the dispatch of the bidder's statement in relation to its offers for all of the ordinary shares in Email Ltd (Email). Amongst other things, Email had applied to the Panel for an interim order under section 657E of the Corporations Law (Law) for dispatch of the bidder's statement to be restrained.