Trysoft Corporation Limited – Panel Publishes Reasons in Relation to Trysoft Proceedings [23/09/2003] The Takeovers Panel

Tuesday, 23 September 2003

PANEL PUBLISHES REASONS IN RELATION TO TRYSOFT PROCEEDINGS

The Panel has today published the reasons for its decision in the proceedings (the Proceedings) relating to Trysoft Corporation Limited (Trysoft).

The Proceedings arose from an application made on 10 June 2003 by Mr Stephen Ioannides (who was a substantial shareholder in, and former director of, Trysoft).

The Panel made a declaration of unacceptable circumstances and final orders in relation to the affairs of Trysoft on 3 July 2003. It also accepted undertakings from certain parties to the Proceedings as a part of their resolution. The Panel's decision in the Proceedings was announced in Takeovers Panel Media Release 64/2003 dated 3 July 2003.

The sitting Panel in the Proceedings was Robyn Pak-Poy (sitting President), Anthony Burgess (sitting Deputy President) and Marian Micalizzi.

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

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