Panel Vests St Barbara's Taipan Shares in ASIC
The Takeovers Panel today advises that it has ordered that 2.7 million shares in Taipan Resources that were acquired by St Barbara Mines on 12 October 2000 be vested in ASIC for sale. The Panel had previously declared that St Barbara Mines caused unacceptable circumstance and breached section 606 of the Corporations Law by acquiring 4 million shares in Taipan Resources on 12 October 2000. St Barbara thereby increased Strata Mining Corporation's voting power in Taipan to more than 20%. An application for the declaration was made by Troy Resources on Tuesday 13 February.