Caravel Minerals Limited - Panel Declines to Make Declaration
The Panel has declined to make a declaration of unacceptable circumstances in response to an application dated 23 March 2018 from Caravel Minerals Limited.
The application concerned allegations of association between shareholders of Caravel Minerals who have requisitioned a general meeting pursuant to section 249D1 to replace directors and between the requisitioning shareholders and other shareholders (see TP18/21).
Finders Resources Limited
Introduction
- The Panel, Stephanie Charles, Karen Evans-Cullen (sitting President) and Sharon Warburton, declined to conduct proceedings on an application by Eastern Field Developments Limited in relation to the affairs of Finders Resources Limited. The application concerned disclosure in Finders' target's statement (including the accompanying independent expert's report) in relation to Eastern Field's bid for Finders.
Auris Minerals Limited - Panel Declines to Conduct Proceedings
The Panel has declined to conduct proceedings on an application dated 29 March 2018 from Auris Minerals Limited in relation to its affairs.
The application concerned the alleged association of several shareholders, including the Mandevilla Requisitioning Shareholders (see TP18/24), and Mr Rob Martin (a director of Auris) and the disclosure of voting power in substantial holding notices.
Auris Minerals Limited - Panel Receives Application
The Panel received late on Thursday 29 March 2018 an application from Auris Minerals Limited in relation to its affairs.
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.
Appointment of Panel Members
The Takeovers Panel notes the announcement by the Minister for Revenue and Financial Services of the reappointment of 12 members and the appointment of 3 new members to the Panel, for terms of 3 years commencing on 30 April 2018.
The President and Panel executive warmly welcome the new members and thank those members whose terms have ended.
On 30 April 2018, the Panel will have 43 members all of whom are appointed on a part-time basis. Details of the appointments are attached.
Strategic Minerals Corporation NL 02R, 03R, 04R and 05R
Introduction
- The review Panel, Peter Day (sitting President), James Dickson and Bruce McLennan, made a minor variation to the declaration of unacceptable circumstances made on 1 February 2018 in relation to the affairs of Strategic Minerals Corporation NL.1 The review Panel otherwise agreed with the initial Panel's conclusions, for substantively the same reasons, and affirmed the orders made by the initial Panel.
- In these reasons, the following definitions apply.
- Bidd
Finders Resources Limited 02 - Panel Receives Application
The Panel has received an application from the Australian Securities and Investments Commission in relation to the affairs of Finders Resources Limited. Finders is currently the subject of an unconditional off-market takeover bid by Eastern Field Developments Limited1 to acquire all Finders shares for a final offer price of $0.23 per share. The offer is scheduled to close tomorrow (the Good Friday public holiday), unless extended.
Details of the application, as submitted by the applicant, are below.
Caravel Minerals Limited - Panel Receives Application
The Panel has received an application from Caravel Minerals Limited in relation to its affairs.
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.