The Panel has declined to conduct proceedings on an application dated 20 November 2020 from Cardinal Resources Limited in relation to its affairs (ASX/TSX: CDV) (see TP20/80).
On 18 November 2020, Nordgold made an announcement extending the closing date for its on-market bid for Cardinal to 7 December 2020 (Nordgold Announcement). The Nordgold Announcement contained statements, including that:
The Panel has made further interim orders in Thorn Group Limited 01 & 02 Limited (see TP20/59 and TP20/60). The further interim orders require the Thorn EGM convened for Thursday, 3 December 2020 to be adjourned to a date between 7 and 14 days after the determination of the Panel’s proceedings, to be notified by Thorn in an ASX announcement.
The review Panel has declined to conduct proceedings on an application dated 30 October 2020 from Keybridge Capital Limited in relation to the affairs of Webcentral Group Limited (Webcentral). The application sought a review of the initial Panel’s decision in Webcentral Group Limited1 (see TP20/66).
The application concerned an off-market takeover bid from 5G Networks Limited (5GN) for Webcentral.
The Panel has received an undertaking from WAM Active Limited not to read or tender parts of an affidavit and an exhibit to that affidavit in court proceedings containing information that the Panel considered to be subject to confidentiality undertakings given by WAM Active in Keybridge Capital Limited 04, 05 & 06 [2020] ATP 6.
The Panel has declined to make a declaration of unacceptable circumstances in response to an application dated 29 October 2020 from Mr Warwick Sauer in relation to the affairs of Excelsior Capital Limited (Excelsior). The application concerned acquisitions of Excelsior shares resulting in Ms Leanne Catelan’s relevant interest in Excelsior increasing from 47.8% to 50.2% (see TP20/68).
The Panel considered (among other things) that:
The Panel has received an application from Cardinal Resources Limited in relation to its affairs (ASX/TSX: CDV).
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.