Panel Declines to Consider Further Application in Relation to Majestic Resources' Bid for Namakwa Diamond Company

The Takeovers Panel has declined to consider a third application concerning the takeover bid announced on 15 March by Majestic Resources for all of the shares in Diamond Company NL. The application is made by Majestic. It alleges deficiencies in the valuation of Namakwa of shares in Namakwa's target's statement.

The Panel considers that the nature of the matters raised in Majestic's application means that they may be appropriately raised by Majestic in a response to Namakwa's target's statement.