Panel Rejects Review Application by Troy Resources in Relation to Decision on St Barbara Mines' Bid for Taipan Resources [05/06/2001] The Takeovers Panel

Tuesday, 5 June 2001

PANEL REJECTS REVIEW APPLICATION BY TROY RESOURCES IN RELATION TO DECISION ON ST BARBARA MINES' BID FOR TAIPAN RESOURCES

The Panel has rejected an application by Troy Resources to review a number of decisions made by the Taipan 10 Panel on an application made by Troy on 27 February 2001. Troy's original application concerned a takeover bid by St Barbara Mines for all of the shares in Taipan Resources. The application for review was made by Troy on 30 March and 3 April 2001. Troy had also made a bid for Taipan.

The decisions of the Review Panel were in substance the same as the decisions of the Taipan 10 Panel. Accordingly, the Review Panel dismissed Troy's application for review.

The sitting Panel for this matter is Dr Annabelle Bennett SC (President), Peter Cameron (sitting Deputy President) and Professor Ian Ramsay.

The reasons for the decision will be available on the Panel's website shortly.

Nigel Morris
Director, Corporations and Securities Panel
Level 47 Nauru House, 80 Collins Street, Melbourne VIC 3000
Ph: +61 3 9655 3501