iP3 Systems Limited - Panel Decision
The Takeovers Panel today announced that it has declined to make a declaration of unacceptable circumstances in relation to the application made by Victoria University of Technology on 15 February 20051 in relation to the rights offer undertaken by iP3 Systems Limited (iP3) on 29 January 2005 (Rights Offer). VUT had complained about a number of issues in iP3's Rights Offer. The Panel advised iP3 that it would need to provide a disclosure document that provided disclosure that was consistent with the level required under the prospectus provisions of Chapter 6D.