AuIron Energy Limited – No Order Restraining Meeting [17/09/2003] The Takeovers Panel

Wednesday, 17 September 2003

AUIRON ENERGY LIMITED - NO ORDER RESTRAINING MEETING

The Takeovers Panel received some, but not all, of the parties' submissions on the application of Westchester Financial Services Pty Ltd concerning the general meeting of AuIron Energy Ltd convened for 19 September to consider the acquisition of the Yarrabee coal mine. Westchester applied for orders deferring the meeting until additional information had been provided to shareholders.

The Panel has decided not to make an order deferring the meeting, as the materials now before the Panel do not support such an order.

The Panel has, however, invited AuIron to undertake to provide details of voting at the meeting. It has also invited both AuIron and Resource Management & Mining Pty Ltd (the vendor of Yarrabee) to undertake that if the acquisition is approved at the meeting, it will not be completed, or abandoned, until the Panel has considered the remaining submissions and the votes cast at that meeting.

George Durbridge,
Director, Takeovers Panel
Level 47 Nauru House, 80 Collins Street
Melbourne VIC 3000
Ph: +61 3 9655 3553
george.durbridge@takeovers.gov.au