PaperlinX SPS Trust – Panel Publishes Reasons
The Panel today published the reasons for its decision on an application dated 13 January 2014 from Coastal Capital International, Ltd. in relation to the affairs of PaperlinX SPS Trust.
Tranzact Financial Services Limited - Panel Declines to Conduct Proceedings
The Panel has declined to conduct proceedings on an application dated 17 January 2014 from London City Equities Limited in relation to the affairs of Tranzact Financial Services Limited.
PaperlinX SPS Trust
The Panel, Robin Bishop, Ewen Crouch AM and Sophie Mitchell (sitting President), declined to conduct proceedings on an application by Coastal Capital International, Ltd. in relation to the affairs of the PaperlinX SPS Trust. The application primarily concerned allegations that the bid by PaperlinX Limited for the SPS Trust was coercive to holders of step-up preference securities and was prohibited by the SPS terms. The Panel considers that the circumstances complained of existed from the SPS Trust’s inception or were the ordinary outcome of a change of ownership proposal and there were no grounds for interfering with the bid.
Tigers Realm Coal Limited - Panel Accepts Undertakings
The Panel has declined to make a declaration of unacceptable circumstances in response to an application dated 16 December 2013 from Dr Bruce Gray in relation to the affairs of Tigers Realm.
Tranzact Financial Services Limited - Panel Receives Application
The Panel has received an application from London City Equities Limited in relation to the affairs of Tranzact Financial Services Limited. The applicant is a shareholder in Tranzact. Tranzact is currently the subject of an off-market ($0.12 per share) cash takeover bid from Gro-Aust Holdings Limited.
PaperlinX SPS Trust - Panel Declines to Conduct Proceedings
The Panel has declined to conduct proceedings on an application dated 13 January 2014 from Coastal Capital International, Ltd. in relation to the affairs of PaperlinX SPS Trust.
Panel Publishes Consultation Paper - Draft Revised Guidance Note 18 on Takeover Documents
The Takeovers Panel today published a consultation paper regarding a revised version of Guidance Note 18 Takeover Documents.
PaperlinX SPS Trust - Panel Receives Application
The Panel has received an application from Coastal Capital International, Ltd. in relation to the affairs of PaperlinX SPS Trust. PaperlinX SPS Trust is the subject of a takeover bid by PaperlinX Limited.
Panel Publishes Consultation Paper - Draft Guidance Note on Dividends
The Takeovers Panel today released a Consultation Paper seeking public comment in relation to a new draft Guidance Note on Dividends.
Keybridge Capital Limited - Panel Publishes Reasons
The Panel today published the reasons for its decision on an application dated 12 December 2013 from Keybridge Capital Limited in relation to its affairs.