Condor Blanco Mines Limited - President Makes Interim Order [03/05/2016] The Takeovers Panel

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TP16/28
Tuesday, 3 May 2016

Condor Blanco Mines Limited - President Makes Interim Order

The President of the Panel has made an interim order1 in response to an application for interim orders dated 1 May 2016 from Mr Joshua Farquhar in relation to the affairs of Condor Blanco Mines Limited.

The interim order prevents Condor Blanco from registering any transfer in respect of any of the 50,000,000 ordinary shares placed in escrow that are referred to in its announcement dated 1 March 2016.

The interim order has effect until the earliest of further order of the President or the Panel, determination of the proceedings or 2 months from the date of the interim order.

The President (or the sitting Panel once appointed) may review the interim order if warranted, for example, following a request by the holder of the shares.

A copy of the interim order is attached.

Allan Bulman
Director, Takeovers Panel
Level 10, 63 Exhibition Street
Melbourne VIC 3000
Ph: +61 3 9655 3597
allan.bulman@takeovers.gov.au


Annexure A

Corporations Act
Section 657E
Interim Order

Condor Blanco Mines Limited

Mr Joshua Farquhar made an application to the Panel dated 1 May 2016 in relation to the affairs of Condor Blanco Mines Limited.

The President ORDERS:

  1. That Condor Blanco Mines Limited must not register any transfer in respect of any of the 50,000,000 ordinary shares referred to in its announcement dated 1 March 2016.
  2. This interim order has effect until the earliest of:
    1. further order of the President or the Panel
    2. the determination of the proceedings and
    3. months from the date of this interim order.

 

Alan Shaw
Counsel
with authority of Vickki McFadden
President
Dated 2 May 2016


1 BACKGROUND: An interim order is designed to maintain the status quo until the Panel can consider the application in detail.  It may be made by the President or a sitting Panel.  Often a sitting Panel has not been appointed at the stage of considering the making of an interim order.  An interim order does not indicate that the Panel has decided to conduct proceedings or necessarily indicate the merits of an application for a declaration of unacceptable circumstances.