Dromana Estate Limited - Decision

The Takeovers Panel (Panel) advises that it has declined the application by Mr John Hempton, a shareholder in Dromana Estate Limited (Dromana), and Mr Simon Maher, a director of a corporate trustee for a trust that is a shareholder of Dromana (together known as Shareholders), in relation to a 1 for 1 non-renounceable rights issue (Rights Issue) to be conducted by Dromana (see TP06/09).