Gulf Alumina Limited - Declaration of Unacceptable Circumstances and Orders

The Panel has made a declaration of unacceptable circumstances (Annexure A) and final orders (Annexure B) in relation to an application dated 15 February 2016 by Metro Mining Limited in relation to the affairs of Gulf Alumina Limited (see TP16/08).

Gulf Alumina Limited (Gulf) is an unlisted company with more than 50 members. Gulf is currently the subject of an off-market takeover bid from Metro Mining Limited (Metro, ASX code: MMI) for all the shares in Gulf at 3.3 Metro shares for every Gulf share.