The Panel advises that it has decided not to make a declaration of unacceptable circumstances in response to an application dated 10 October 2008 from Australian Property Custodian Holdings Limited as responsible entity of The Prime Retirement and Aged Care Property Trust. The application concerned the proportional takeover offer for Babcock & Brown Communities Group by Prime and an Implementation Agreement between BBC and Lend Lease Corporation Limited dated 1 October 2008.

The Takeovers Panel notes the decision of the Federal Court in CEMEX Australia Pty Limited v Takeovers Panel [2008] FCA 1572 which was handed down today. This was the judicial review application brought by CEMEX against the decision of the review Panel in Rinker 02R (see TP07/72, TP07/67, TP07/57).

The Takeovers Panel has received an application from Australian Property Custodian Holdings Limited as responsible entity of The Prime Retirement and Aged Care Property Trust in relation to the affairs of Babcock & Brown Communities Group.

The Takeovers Panel today published a pro forma application for use by market participants when making an application for a declaration of unacceptable circumstances under section 657C of the Corporations Act.

The Takeovers Panel announced today that it has published revised versions of its Guidance Notes 2 (Reviewing Decisions), 4 (Remedies General), and 5 (Specific remedies - Information deficiencies). Because of consolidation, former Guidance Notes 9 (Costs Order) and 16 (Correction of Takeover Documents) have been withdrawn.

The Panel has declined to conduct proceedings on an application dated 29 September 2008 from Boulder Steel Limited regarding its affairs (see TP08/94).

The Takeovers Panel has received an application from Boulder Steel Limited in relation to its affairs. Boulder has an extraordinary general meeting scheduled to take place on 8 October 2008. The EGM was requisitioned on behalf of Falak Holding LLC (99% owned by Mr Abdul Rahman Falaknaz) under s249D seeking among other things the removal from the board of the Managing Director and Chief Executive Officer of Boulder, Dr Peter Wallner.

The Panel has consented to a request by Incremental Petroleum Limited to withdraw its application to the Panel dated 23 September 2008, in relation to its affairs (TP08/92). Incremental is the subject of an off-market takeover bid by Cooper Energy Limited.

The Takeovers Panel has received an application from Incremental Petroleum Limited in relation to its affairs. Incremental is the subject of an off-market takeover bid by Cooper Energy Limited.