Panel Receives Application in Relation to Simon Gilbert Wines' Proposed Bid for Vincorp Wineries [28/02/2001] The Takeovers Panel

Wednesday, 28 February 2001

Panel Receives Application in Relation to Simon Gilbert Wines' Proposed Bid for Vincorp Wineries

The Takeovers Panel has today received an application for a declaration of unacceptable circumstances in relation to the bidder's statement issued by Simon Gilbert Wines ("SGW") in its scrip bid for Vincorp Wineries. SGW gave its bidder's statement to Vincorp on 15 February.

The application asserts that Simon Gilbert Wines' bidder's statement has disclosure deficiencies in relation to:

  • The historical performance of SGW;
  • The effects on SGW of the acquisition of the "Talbragar property"; and
  • The future performance of SGW if its bid is partly or fully successful.

Vincorp has applied for a declaration that unacceptable circumstances exist, and requested the Panel to make orders that SGW amend its bidder's statement.

The President of the Panel Mr Simon McKeon is currently assembling a Panel to sit on the matter.

Nigel Morris
Director, Corporations and Securities Panel
Level 47 Nauru House, 80 Collins Street, Melbourne VIC 3000
Ph: +61 3 9655 3501
nigel.morris@takeovers.gov.au