Application by Taipan Resources in Relation to Troy Resources Announcement of Further Bid

The Takeovers Panel advises that today, it has received an application from Taipan Resources for a declaration of unacceptable circumstances in relation to Troy Resource's announcement of 13 December that it intends to allow its current, conditional bid for Taipan to lapse and to make another unconditional offer shortly.

Taipan is seeking a declaration of unacceptable circumstances, and both interim and final orders. The alternative orders that Taipan is seeking the Panel to make include: