Bullseye Mining Limited

Introduction

  1. The Panel, Richard Hunt (sitting President), Rory Moriarty and Neil Pathak declined to conduct proceedings on an application by Bullseye Mining Limited in relation to its affairs. The application concerned whether two Bullseye shareholders, who had made separate requisitions to call and arrange a general meeting to consider resolutions to replace directors, were associates with each other and other Bullseye shareholders.

Tikforce Limited - Meeting Today

Tikforce Limited has advised the Panel of action it proposes to take in response to a request from ASX, including withdrawing resolutions 8-11 from the matters to be considered at the general meeting today.

In the light of that, the Panel considers that an interim order is not currently required.

Allan Bulman
Director, Takeovers Panel
Level 10, 63 Exhibition Street
Melbourne VIC 3000
Ph: +61 3 9655 3500
takeovers@takeovers.gov.au

Baraka Energy and Resources Limited - Panel Declines to Conduct Proceedings

The Panel has declined to conduct proceedings on an application dated 1 August 2018 from GTT Global Opportunities Pty Ltd (GTT) in relation to the affairs of Baraka Energy and Resources Limited (see TP18/56).

Baraka has convened a general meeting to be held on 10 August 2018 in response to a notice under section 249D1 from the applicant and other shareholders to consider resolutions to remove all current directors and appoint three new directors.

Baraka Energy and Resources Limited - Panel Receives Application

The Panel has received an application from GTT Global Opportunities Pty Ltd in relation to the affairs of Baraka Energy and Resources Limited.  Baraka has convened a general meeting on 10 August 2018 in response to a notice under section 249D1 from the applicant and other shareholders to consider resolutions to remove all current directors and appoint three new directors.

Details of the application, as submitted by the applicant, are below.

Realm Resources Limited

Introduction

  1. The Panel, Kelvin Barry, Teresa Dyson and Rod Halstead (sitting President), made a declaration of unacceptable circumstances in relation to the affairs of Realm Resources Limited. The application concerned an off-market takeover bid made by T2 for 100% of the ordinary shares in Realm that it or its associates did not already own.

Molopo Energy Limited 10 & 11

Introduction

  1. The Panel, Christian Johnston (sitting President) Rebecca Maslen-Stannage and John O'Sullivan, made a declaration of unacceptable circumstances in relation to the affairs of Molopo Energy Limited. The application concerned an off-market takeover bid for Molopo by Aurora. The Panel found that Molopo's failure to disclose certain transactions and events in accordance with its disclosure obligations meant that the acquisition of control over voting shares in Molopo has not taken place in an efficient, competitive and informed market.

Bullseye Mining Limited - Panel Receives Application

The Panel has received an application from Bullseye Mining Limited in relation to its affairs. 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).

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.

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