Panel Declines Review Application in Relation to Decision on Majestic Resources' Bid for Namakwa Diamond Company

The Namakwa 4 Panel has refused an application reviewing a decision by the Namakwa 3 to decline to commence proceedings to consider an application. The application concerned a valuation in Namakwa's target's statement in the takeover bid announced by Majestic Resources on 15 March for all of the shares in Namakwa Diamond Company NL. The application for review was made by Majestic, on 15 May 2001. Majestic had made the Namakwa 3 application.