Application By Pasminco Limited (Administrators Appointed) [06/03/2002] The Takeovers Panel

Wednesday, 06 March 2002

APPLICATION BY PASMINCO LIMITED (ADMINISTRATORS APPOINTED)

The Panel advises that is currently considering submissions received in relation to an application by the Administrators of Pasminco in relation to the possible restructure of the Pasminco group of companies by one or more deeds of company arrangement under Part 5.3A of the Corporations Act. The application relates to the decision by ASIC on 4 February 2002 to refuse the Administrators' application for an exemption from section 606 of the Corporations Act. The Administrators have applied to the Panel under section 656A of the Act for a review of ASIC's decision.

The Panel wishes to advise that it is unlikely to release a decision and reasons before mid next week in this novel matter.

Sitting Panel

The sitting Panel in this matter is constituted by Mr Denis Byrne (sitting President), Mrs Marian Micalizzi (sitting Deputy President) and Ms Irene Lee.

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