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
9.5¢ |
Change
0.008(9.20%) |
Mkt cap ! $30.51M |
Open | High | Low | Value | Volume |
8.8¢ | 9.5¢ | 8.8¢ | $15.46K | 173.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 63482 | 8.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
9.5¢ | 235175 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 63482 | 0.089 |
1 | 19639 | 0.087 |
1 | 170000 | 0.086 |
2 | 360000 | 0.085 |
1 | 300000 | 0.084 |
Price($) | Vol. | No. |
---|---|---|
0.095 | 235175 | 1 |
0.098 | 10000 | 1 |
0.100 | 29000 | 1 |
0.105 | 10000 | 1 |
0.110 | 15500 | 2 |
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