The Takeovers Panel declined to conduct proceedings on an application alleging undisclosed association between two groups of shareholders whose combined beneficial interests in GWR Group Limited, held through a nominee, would have exceeded the 20% threshold in s 606 of the Corporations Act, holding that the applicant had not provided a sufficient body of evidence of association and that the complaint was historical in nature with no current control transaction, and referred the matter to ASIC for further investigation.
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