The Panel has received an application dated 30 January 2008 from Golden West
Resources Limited (GWR) in relation to its affairs. Fairstar Resources Limited (FAS)
is currently making an off-market scrip bid for GWR (Offer).
The application relates to a disputed acceptance of the Offer by Falak Holdings LLC,
a 7.98% shareholder in GWR through ANZ Nominees Limited. GWR submits that
the purported acceptance gives rise to unacceptable circumstances because the
purported acceptance:
1. was not authorised by Falak; and
2. is inconsistent with statements and representations by Falak to the market and
GWR.
GWR has sought a declaration of unacceptable circumstances and interim orders.
The interim orders include that, without the prior consent of the Panel, for a period
of 2 months from the date of the order:
1. FAS not exercise any voting rights or other rights attached to the affected
shares;
2. Falak be allowed to exercise any voting rights or other rights attached to the
affected shares; and
3. FAS not dispose of, transfer or charge any of the affected shares or any interest
in any of the affected shares.
The interim orders relate in part to a shareholder meeting convened under section
249D of the Corporations Act that is scheduled for 5 February 2008. GWR has not
yet detailed the final orders it is seeking.
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Last
7.8¢ |
Change
0.001(1.30%) |
Mkt cap ! $25.05M |
Open | High | Low | Value | Volume |
7.9¢ | 7.9¢ | 7.7¢ | $1.37K | 17.41K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 4634 | 7.8¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
7.9¢ | 51402 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 4696 | 0.078 |
1 | 99871 | 0.077 |
1 | 86497 | 0.076 |
2 | 566666 | 0.075 |
2 | 600000 | 0.074 |
Price($) | Vol. | No. |
---|---|---|
0.079 | 51462 | 2 |
0.082 | 75000 | 1 |
0.087 | 27196 | 1 |
0.088 | 62500 | 1 |
0.090 | 100000 | 1 |
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