Panel Declines Application by Taipan in Relation to Troy Announcement of Further Bid

The Takeovers Panel advises that it has declined an application from Taipan Resources for a declaration of unacceptable circumstances in relation to Troy Resources' announcement of 13 December. Troy has announced that it intends to allow its previous bid for Taipan to lapse and to make another offer that is not conditional on the merger between St Barbara and Taipan not proceeding. It's previous bid contained this condition.