Monday, 7 September 2009
Multiplex Prime Property Fund – Panel Makes Interim Order
The Panel has made an interim order in relation to an application by Brookfield Multiplex Capital Management Limited in its capacity as responsible entity for Multiplex Prime Property Fund in relation to the fund's affairs. Australian Style Investments Pty Ltd has made an on-market bid for all of the partly paid units in the fund. Australian Style indicated in its bidder's statement that it would offer to acquire units during the bid period.
The interim order is to allow the Panel time to hear from the parties as to whether a further interim order should be made. The Acting President made the order, which operates until further order by the Panel or 5pm EST today, given the potential effect if Australian Style were allowed to acquire units in the fund on-market.A copy of the interim order is attached.
Director, Takeovers Panel
Level 10, 63 Exhibition Street
Melbourne VIC 3000
Ph: +61 3 9655 3597
Multiplex Prime Property Fund
Brookfield Multiplex Capital Management Limited as responsible entity for Multiplex Prime Property Fund made an application to the Panel dated 6 September 2009 in relation to the affairs of Multiplex Prime Property Fund (Multiplex).
The Acting President ORDERS:
- Australian Style Investments Pty Limited not acquire units (or cause a broker to acquire units) in Multiplex by on-market purchase
- This interim order has effect until:
- further order of the Panel or
- 5pm EST 7 September 2009.
with authority of Graham Bradley
Dated 7 September 2009