These are the Panel’s reasons for declining the application by AEP Financial Investments Pty Ltd to make a declaration of unacceptable circumstances in relation to the affairs of Wattyl and final orders. The Panel decided not to make a declaration of unacceptable circumstances or final orders having received undertakings to amend the terms of a break fee agreement between Wattyl Limited and Barloworld and having required and approved additional and corrective disclosure by Wattyl to Wattyl shareholders by way of a supplementary target’s statement.

These are the Panel’s reasons for making a declaration of unacceptable circumstances in relation to the affairs of Sydney Gas Limited and requiring Queensland Gas Company Limited to issue a replacement bidder’s statement.

These are the Panel’s reasons for declining, on the basis of an undertaking from Dromana, a review application of Mr John Hempton, a shareholder in Dromana Estate Limited, to make a declaration of unacceptable circumstances in relation to a 1 for 1 non-renounceable rights issue to be conducted by Dromana.