The Panel has accepted an undertaking from G8 Education Limited in relation to the application dated 26 August 2015 by Affinity Education Group Limited.
The Panel has received an application from Affinity Education Group Limited in relation to its affairs. Affinity is the subject of concurrent on-market and off-market takeovers by G8 Education Limited.
The Takeovers Panel welcomes the recent announcement by the Treasurer of the appointment of 5 new members to the Panel, for terms up to and including 29 April 2018.
The Panel, Garry Besson (sitting President), Richard Hunt and Denise McComish, declined to conduct proceedings on an application by Echo Resources Limited in relation to its affairs. The application concerned the failure to disclose, in a substantial holder notice, an alleged association between certain Echo shareholders, some of whom had requisitioned a general meeting to change the composition of Echo’s board.
The fees payable for Panel applications are indexed each year from 1 July based on any increase in the Consumer Price Index, pursuant to the Corporations (Fees) Act 2001 (Cth) and Corporations (Fees) Regulations 2001 (Cth).
The Takeovers Panel today released a Consultation Paper seeking public comment in relation to a new draft Guidance Note on Shareholder Intention Statements.