The Panel has received an application from Lois Lane Investments Pty Ltd, Bloom Financial Advice Pty Ltd and others seeking a review of the Panel's decision in Kasbah Resources Limited (see TP16/83).

A review 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.

The Panel today published the reasons for its decision on an application dated 31 October 2016 by Mr Thomas Reddicliffe in relation to the affairs of Merlin Diamonds Limited.

Details of the Panel's decision can be found at TP16/78 and TP16/80.

The Panel's reasons for its decisions are available on the Panel's website.

The sitting Panel was James Dickson (President), Shirley In't Veld and Karen Phin.

The Panel has declined to conduct proceedings on an application dated 19 December 2016 from Lois Lane Investments Pty Ltd and Bloom Financial Advice Pty Ltd in relation to the affairs of Kasbah Resources Limited (see TP16/81).

The Panel advises that no media releases will be able to be published on its website between 5pm on Friday 23 December 2016 and 9am on Tuesday 3 January 2017. Panel media releases for listed companies may be published on the ASX platform.

The Panel's office will be closed from Monday 26 December 2016, reopening on Tuesday 3 January 2017, but the Panel will still be available. Please call us on (03) 9655 3500 before lodging an application during this period.

The Panel has received an application from Lois Lane Investments Pty Ltd and Bloom Financial Advice Pty Ltd in relation to the affairs of Kasbah Resources Limited. 

Details of the application, as submitted by the applicants, 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.

The Panel made a declaration of unacceptable circumstances on 29 November 2016 in relation to an application dated 31 October 2016 by Mr Thomas Reddicliffe in relation to the affairs of Merlin Diamonds Limited (see TP16/76 and TP16/78).

In summary, the Panel considered among other things that:

The Takeovers Panel today published a re-write of Guidance Note 12 Frustrating action.

The Panel issued a consultation paper in relation to the proposed re-write of Guidance Note 12 on 14 September 2016. The Panel received 6 submissions in response and has taken them into account and made further changes to the Guidance Note.

The final revised Guidance Note, and the Public Consultation Response Statement detailing the material comments received and the Panel's response, are available on the Panel's website.