The Panel has received an application from Grandbridge Limited (ASX:GBA), Trandcorp Pty Ltd and Mr David Breeze in relation to the affairs of MEC Resources Limited (ASX:MMR).
The Takeovers Panel's Director Allan Bulman and ASIC Commissioner John Price have announced the release of a new Memorandum of Understanding (MOU) between the Panel Executive and ASIC.
The Takeovers Panel notes the announcement by the Minister for Revenue and Financial Services of the reappointment of 5 members and the appointment of 6 new members to the Panel, for terms of 3 years commencing on 23 March 2017.
The Panel, Peter Day, Byron Koster (sitting President) and Karen Phin, declined to conduct proceedings on an application by CIMIC Group Investments Pty Limited and CIMIC Group Limited in relation to the affairs of Macmahon Holdings Limited. The application concerned an off-market takeover bid by CGI for Macmahon. The bidder submitted that certain disclosures by the target were potentially misleading.
The Panel has declined to conduct proceedings on an application dated 6 March 2017 from CIMIC Group Investments Pty Limited and CIMIC Group Limited in relation to the affairs of Macmahon Holdings Limited.