Application in Relation to Auriongold Limited [05/08/2002] The Takeovers Panel

5 August 2002

APPLICATION IN RELATION TO AURIONGOLD LIMITED

The Panel advises that it has today received an application from AurionGold Limited. The application seeks a declaration of unacceptable circumstances and interim and final orders in relation to the takeover bid for AurionGold Limited by Placer Dome Asia Pacific Limited.

The concerns raised by AurionGold relate to:

  • Disclosure issues in relation to various statements or supplementary bidder's statements released by Placer Dome;
  • The percentage and cap of the broker inducement fee announced by Placer Dome in its Media Release published on 29 July 2002 (Australian time); and
  • Placer Dome's telephone canvassing to AurionGold shareholders.

The Panel notes that it has received only initial submissions on the issues so makes no comment on the issues raised. Placer Dome has indicated its initial disagreement with the concerns raised by AurionGold.

The sitting Panel for the application is Marie McDonald (sitting President), Simon Mordant (sitting Deputy President) and Elizabeth Alexander AM.

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