Excelsior Capital Limited - Panel Declines to Make Declaration

The Panel has declined to make a declaration of unacceptable circumstances in response to an application dated 29 October 2020 from Mr Warwick Sauer in relation to the affairs of Excelsior Capital Limited (Excelsior). The application concerned acquisitions of Excelsior shares resulting in Ms Leanne Catelan’s relevant interest in Excelsior increasing from 47.8% to 50.2% (see TP20/68).

The Panel considered (among other things) that: