Review of Panel decision - conditional offer for shares and rights - underwritten rights issue - acquisition of controlling interest by exercising acquired rights - contravention of section 606 - managing excess shares - association - relevant interest - bare trustee’s relevant interest ignored - substantial shareholder’s notice - substantial interest - truth in takeovers - unacceptable circumstances involving acquisition of substantial interest - unfair prejudice
Corporations Act 2001 (Cth), sections 12(2), 53(1), 602, 606, 609 and item 9 section 611 ASIC Policy Statement 25: Takeovers: false and misleading statements Corumo Holdings Ltd v C. Itoh Pty Ltd (1991) 24 NSWLR 370 A-G (Vic) v Walsh’s Holdings Ltd [1973] VR 137 Aberfoyle Ltd v Western metals Ltd (1998) 84 FCR 113
