News: RER Australian Government Takeovers Panel updates on Regal Resources affairs

Oct 17 (Reuters) - Australian Government Takeovers Panel :

• Australian Government Takeovers Panel made a declaration of unacceptable circumstances and final orders
• Australian Government Takeovers Panel made declaration in relation to application by Warwick Sauer in relation to affairs of Regal Resources
• Australian Government Takeovers Panel considered Regal's treatment of applications for shortfall shares was inconsistent with disclosure in notice of meeting
• Australian Government Takeovers Panel regal must apply for quotation of the shares on asx.
• Australian Government Takeovers Panel made orders requiring regal to make an offer of new shares to regal shareholders, at an offer price of $0.01 per share
• Australian Government Takeovers Panel orders cancel shares of Ndovu in such no. As is equivalent to no. Of shares issued to scaled back shareholders in new offer