The review Panel has varied the initial Panel's orders in Tribune Resources Limited (see TP18/73). In that matter, the Panel made orders including the vesting of 12,025,519 Tribune shares held by Rand Mining Limited in ASIC to sell, further disclosure and voting restrictions.
On 31 October 2018, Rand sought a review of the initial Panel's decision to make orders (see TP18/74).
The Panel has declined to conduct proceedings on an application dated 24 October 2018 from Ramelius Resources Limited in relation to the affairs of Explaurum Limited (see TP18/72).
The Panel has received an application from Rand Mining Limited seeking a review of the Panel's decision on final orders in Tribune Resources Limited (see TP18/73).
A review 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.
The Panel made a declaration of unacceptable circumstances on 14 September 2018 in relation to an application dated 20 August 2018 by R Hedley Pty Ltd in relation to the affairs of Tribune Resources Limited (see TP18/67).
The Panel has made final orders (Annexure A), the effect of which includes:
The Panel has received an application from Ramelius Resources Limited in relation to the affairs of Explaurum Limited. Explaurum is currently the subject of an off-market takeover bid by Ramelius for 100% of the shares in Explaurum for consideration of 1 Ramelius share for every 4 Explaurum shares.
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.
The Panel made a declaration of unacceptable circumstances on 2 October 2018 in relation to the affairs of Bullseye Mining Limited (see TP18/70).
The Panel has made a declaration of unacceptable circumstances (Annexure A) in relation to an application dated 3 September 2018 by Hongkong Xinhe International Investment Company Limited in relation to the affairs of Bullseye Mining Limited (see TP18/64).
Bullseye (an unlisted public company) is currently the subject of an off-market takeover bid by Opus Resources Pty Ltd, a wholly owned subsidiary of Red 5 Limited (ASX:RED).
The Panel has consented to a request by the Australian Securities and Investments Commission to withdraw its application to the Panel dated 12 September 2018 in relation to the affairs of Poseidon Nickel Limited. The application concerned the potential control effects of the sub-underwriting arrangements for an entitlement offer announced by Poseidon (see TP18/66).
Following the announcement of the results of the entitlement offer by Poseidon, ASIC sought the Panel's consent to withdraw its application.