QR Sciences Limited – Panel Publishes Reasons [10/12/2003] The Takeovers Panel

Wednesday, 10 December 2003

QR SCIENCES LIMITED - PANEL PUBLISHES REASONS

The Takeovers Panel has today published the reasons for its decision in the proceedings (the Proceedings) relating to QR Sciences Limited (QRS).

The Proceedings arose from an application made on 13 October 2003 by SecQR Ltd (SecQR) in relation to a non-renounceable rights issue by QRS.

As previously announced on 23 October 2003 in Panel media release TP 03/110, the Panel decided not to make a declaration of unacceptable circumstances after receiving an undertaking from QRS which resolved any of the issues of unacceptability that the Panel had observed concerning the structure of the rights issue and the disclosures made in the offer information statement concerning the rights issue.

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

The earlier Panel media release mentioned in this media release are available on the Panel’s website at: http://www.takeovers.gov.au/Content/MediaReleases/MediaReleases.asp

The Panel was Braddon Jolley (sitting President), Marian Micalizzi and Tro Kortian.

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