Panel Appointed for Email Application [12/05/2000] The Takeovers Panel

Friday, 12 May, 2000

PANEL APPOINTED FOR EMAIL APPLICATION

The Takeovers Panel has received an application in relation to the offer by Smorgon Distribution Ltd (Smorgon) for all of the ordinary shares in Email Ltd (Email), and in relation to Smorgon's proposed bidders' statement in its bid for Email. Ms Nerolie Withnall, acting President of the Corporations and Securities Panel, has appointed three Panel members to constitute the sitting Panel in relation to the application which was made by Email.

The application is made under section 657A of the Corporations Law, for a declaration of unacceptable circumstances, and concerns aspects of the structure of the Smorgon offer, and issues in relation to disclosure in the proposed Smorgon bidder's statement.

The members of the sitting Panel are Dr Annabelle Bennett SC (President), Mr Michael Tilley (Deputy President) and Ms Karen Wood. Dr Bennet is Senior Counsel at the Sydney bar, Mr Tilley is Chairman of Merrill Lynch International (Australia) Ltd, Ms Wood is General Counsel and Company Secretary of Bonlac Foods Ltd..

Nigel Morris
Director
Corporations and Securities Panel
Level 47 Nauru House
80 Collins Street
Melbourne VIC 3000
(03) 9655 3501