Panel application in relation to QCT Resources Ltd [08/09/2000] The Takeovers Panel

Friday, 08 September 2000

PANEL application in relation to QCT Resources Ltd

The Takeovers Panel today advised that it has received an application for a declaration of unacceptable circumstances in relation to the affairs of QCT Resources Ltd (QCT). The application is by QCT and it is for a declaration in relation to:

  • the affairs of QCT, and/or
  • the takeover offer for all the shares in QCT by Metcoal Holdings (Qld) Pty Ltd (Metcoal).

QCT has also applied for orders under section 657D of the Corporations Law directing Metcoal to make additional disclosure in its bidder's statement , or to issue a supplementary bidder's statement. QCT is also seeking an interim order restraining dispatch of the bidder's statement until the Panel has conluded the matter, or Metcoal has made the additional disclosure. The additional information QCT seeks Metcoal to disclose relates to information BHP Ltd has as manager of various joint ventures which constitute the majority of QCT's coal assets.

The President of the Panel Mr. Simon McKeon has appointed Ms Jenny Seabrook, Ms Meredith Hellicar and Mr Denis Byrne to sit on this application. Ms Seabrook will be the sitting President for this application.

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