https://www.engineeringnews.co.za

Takeovers Panel issues interim order in Firestone takeover

29th April 2013

By: Idéle Esterhuizen

  

Font size: - +

JOHANNESBURG (miningweekly.com) – The Australian Takeovers Panel has issued an interim order to prevent ASX- and TSX-listed Firestone Energy and ASX-listed Waterberg Coal Company (WCC), previously Range River Gold, from further communicating with Firestone’s shareholders regarding WCC’s takeover offer.

Firestone on April 18 approached the Takeovers Panel to seek a declaration of unacceptable circumstances in respect of the hostile takeover offer made by WCC.

The panel on Monday announced the interim order, which would be upheld until the panel had resolved the application.

Further information disclosures to shareholders would only be allowed if the panel gave its consent or if this was required as part of continuous disclosure obligations.

WCC and its subsidiaries were also not allowed to make or initiate any changes to the composition of the Firestone board.

WCC was offering Firestone shareholders 1.25 of its own shares for every two Firestone shares held.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Sika South Africa
Sika South Africa

Sika South Africa is a trusted partner for the nation’s infrastructure, commercial, residential, and industrial sectors.

VISIT SHOWROOM 
Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.053 0.814s - 140pq - 2rq
Subscribe Now