The Takeovers Panel (Panel) advises that it has decided to commence proceedings in relation to an application dated 14 January 2005 it received from WMC Resources Ltd (WMC) in relation to the takeover offer by Xstrata Capital Holdings Pty Ltd (Xstrata Capital) for all the shares in WMC.

The Takeovers Panel (Panel) received an application dated 13 January 2005 from Lenvat Pty Limited (Lenvat), a major shareholder of Lachlan Farming Limited (LFL), in relation to the 1 for 1.19 rights issue recently conducted by LFL, the terms of which were set out in a prospectus dated 17 September 2004.

The Takeovers Panel (Panel) advises that it has received an application dated 14 January 2005 from WMC Resources Ltd (WMC) in relation to the takeover offer by Xstrata Capital Holdings Pty Ltd (Xstrata Capital) for all the shares in WMC. The terms of Xstrata Capital's offer are set out in the replacement bidder's statement dated 16 December 2004. WMC issued a target's statement dated 4 January 2005 in relation to Xstrata Capital's offer, which incorporated an independent expert's report.

Following the Panel's media release TP04/05 of 12 January 2005 regarding the application from Xstrata Capital Holdings Pty Ltd in relation to its takeover offer for all the shares in WMC Resources Ltd, the Panel advises that it has decided to conduct proceedings with respect to Xstrata Capital's application. The Panel will announce details of its decision once these proceedings are determined.

The Takeovers Panel (Panel) advises that it has today received an application from Geoff Woodham Financial Services Pty Ltd (the Applicant) alleging that unacceptable circumstances exist in relation to a number of issues of securities, a proposed issue of convertible notes and a transfer of securities, in each case in LV Living Limited (LVL).

The Takeovers Panel (Panel) has today made further interim orders in relation to the application from Network Ltd concerning Rivkin Financial Services Ltd (RFS) dated 31 December 2004. The application was the subject of Panel media release TP04/119 and the Panel's previous interim orders were the subject of media release TP05/02. The Panel proceedings in relation to the application are continuing.

The Takeovers Panel (Panel) advises that it has received an application dated 12 January 2005 from Xstrata Capital Holdings Pty Ltd (Xstrata Capital) in relation to its takeover offer for all the shares in WMC Resources Ltd (WMC). The terms of Xstrata Capital's offer are set out in the replacement bidder's statement dated 16 December 2004. WMC issued a target's statement dated 4 January 2005 in relation to Xstrata Capital's offer, which incorporated an independent expert's report.

The Takeovers Panel (the Panel) has today published the reasons for its decision in relation to the application from Lenvat Pty Limited (Lenvat) dated 22 December 2004 regarding Lachlan Farming Limited's (LFL) rights issue.

The Takeovers Panel (the Panel) has today published the reasons for its decision in relation to two applications relating to the affairs of Emperor Mines Limited, one application was for review of the earlier decision.