Panel Publishes Reasons For Decision in EPHS Limited [09/08/2002] The Takeovers Panel

9 August 2002

PANEL PUBLISHES REASONS FOR DECISION IN EPHS LIMITED

The Takeovers Panel advises that it has published the reasons for its decision in relation to the EPHS Limited proceedings.

EPHS Limited made the application in relation to bidder's statements for bids for two classes of shares in EPHS by Cabcover Limited through its representative Akram El-Fahkri. In its application, EPHS was seeking a declaration that certain statements and omissions in the bidder's statements gave rise to unacceptable circumstances, and for orders to prevent their dispatch without further amendment.

The Panel considered that the issues in the application were adequately dealt with by amendments to the bidder's statements acceptable to the Panel.

As a result the Panel declined to make a declaration of unacceptable circumstances.

Most issues in the matter were settled between the parties; Cabcover, EPHS and the Australian Securities and Investments Commission, with the support of the Panel. The Panel is very appreciative of the constructive participation of the parties in this process.

The Panel was constituted by Panel Alice McCleary (sitting President), Scott Reid and Robyn Pak-Poy.

The Panel's reasons are available on its website at: http://www.takeovers.gov.au/Content/Decisions/decisions.asp

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