Alto Metals Limited

[2020] ATP 17 (Takeovers Panel)

Takeovers Panel

Built by Barristers,
For Australian Law.

1. Entitlement issue – frustrating action – defensive action – effect on control – efficient, competitive and informed market – automatic price variation rule – undervalue statement – information deficiencies – directors’ recommendation – target’s statement – shareholder intention statements – lock-up – declaration – orders – interim order
1. Corporations Act 2001 (Cth), sections 602, 611 (item 9), 621(3), 651A, 657A, 657D
1. Re VGM Holdings Ltd [1942] 1 All ER 224
1. Guidance Note 4: Remedies General – Guidance Note 7: Lock-up devices – Guidance Note 12: Frustrating Action – Guidance Note 17: Rights Issues – Guidance Note 22: Recommendations and Undervalue Statements – Guidance Note 23: Shareholder intention statements