Panel Decision in Online Advantage Limited

The Takeovers Panel today advises its decision in relation to applications made by McWilliam Nominees Pty Ltd and ASIC in relation to the affairs of Online Advantage Limited.

On 4 July 2002, McWilliam Nominees lodged an application for a declaration of unacceptable circumstances under Section 657A of the Corporations Act 2001 in relation to the alleged acquisition by certain persons specified in the application of approximately 100 million shares in Online Advantage on or around 3 June 2002 ("3 June Crossing").