BreakFree Limited 02 – Panel Publishes Reasons [26/09/2003] The Takeovers Panel

Friday, 26 September 2003

BREAKFREE 02 - PANEL PUBLISHES REASONS

The Panel has today published the reasons for its decision in the BreakFree 02 proceedings (the Proceedings).

The Proceedings arose from an application made on 4 September 2003 by S8 Limited (S8) for a review of a decision by the Australian Securities & Investments Commission (ASIC) to refuse to consent to the early dispatch of S8's amended bidder's statement concerning its takeover bid for BreakFree Limited.

The result of the Proceedings was that the Panel affirmed ASIC's decision to refuse to consent to early dispatch.

The sitting Panel for the proceedings was Kathleen Farrell (sitting President), Peter Cameron (sitting deputy President) and Meredith Hellicar.

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