Indiana Resources Limited

Introduction

  1. The Panel, James Dickson (sitting President), Bill Koeck and Sarah Rennie, made a declaration of unacceptable circumstances in relation to the affairs of Indiana Resources Limited. The application concerned a meeting of Indiana requisitioned by BPM Capital Limited to remove and replace two Indiana directors. The Panel considered that BPM was associated with the persons it nominated for appointment to the Indiana board.

MEC Resources Limited

Introduction

  1. The Panel, Tracey Horton, Christian Johnston (sitting President) and Robert McKenzie, declined to conduct proceedings on an application by Grandbridge Limited, Trandcorp Pty Ltd and Mr David Breeze in relation to the affairs of MEC Resources Limited. The application concerned MEC Resources’ 1 for 2 non-renounceable rights issue.

Spotless Group Holdings Limited

Introduction

  1. The Panel, Robin Bishop, Byron Koster (sitting President) and Sophie Mitchell, declined to conduct proceedings on an application by Spotless Group Holdings Limited in relation to its affairs. The application concerned (among other things) the offer terms of an off-market cash takeover bid by Downer EDI Services Pty Ltd for Spotless and bidder's statement disclosure.