Minemakers Limited 02R - Panel Declines to Make Declaration

The Panel has declined to make a declaration of unacceptable circumstances in response to an application dated 14 August 2012 from UCL Resources Limited seeking a review of the initial Panel's decision in Minemakers 02 (TP12/54). Minemakers is currently the subject of an off-market takeover bid from UCL, announced on 18 May 2012.

UCL submitted that (among other things) reports provided by BDO Corporate Finance (WA) Pty Ltd and Optiro Pty Ltd and included in Minemakers target statement: