The Panel has received an application from Hongkong Xinhe International Investment Company Limited in relation to the affairs of Bullseye Mining Limited.  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 application relates to resolutions 1 and 2 in a notice of meeting issued by Bullseye to convene a general meeting to be held on 17 September 2018.  The applicant holds 21.74% of Bullseye's shares.

The Panel has declined to conduct proceedings on an application dated 14 August 2018 from EZR Systems Pty Ltd, Valplan Pty Ltd as trustee for the Troy R Valentine Fam S/F Account, Alignment Capital Pty Ltd, Cityside Investments Pty Ltd and Union Square Capital Pty Ltd on behalf of the Endeavour A/C in relation to the affairs of Tikforce Limited.

The Panel has made interim orders¹ in response to an application for interim orders dated 20 August 2018 by R Hedley Pty Ltd in relation to the affairs of Tribune Resources Limited.

In order to maintain the status quo while it considers the application, the Panel has ordered that, in the absence of the consent of a member of the Panel, the persons referred to in the interim orders must not dispose of, transfer, charge or otherwise deal with their shares in Tribune.

The Panel has received an application from R Hedley Pty Ltd in relation to the affairs of Tribune Resources Limited. 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.

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

The Panel has received an application in relation to the affairs of Tikforce Limited from a group of shareholders¹ who have requisitioned a general meeting of Tikforce pursuant to section 249D of the Corporations Act 2001 (Cth).²

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

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.