Panel Publishes Reasons in Relation to Majestic Resources' Bid for Namakwa Diamond Company

The Takeovers Panel has today published its reasons for deciding to take no further action in relation to the application by Namakwa Diamond Company received 26 March 2001 for a declaration of unacceptable circumstances and orders in relation to the takeover bid for Namakwa by Majestic Resources. The application asserted contraventions of section 606, misleading or deceptive conduct and market manipulation. The Panel announced its decision on 1 May 2001.