Normandy Mining Limited 07

On 13 January 2002 Newmont Mining Corporation (Newmont) applied for interim orders, a declaration of unacceptable circumstances and final orders under sections 657A and 657E of the Corporations Act. The application related to AngloGold Limited's (AngloGold) notice of extension of the closing date for its bid for Normandy Mining Limited (Normandy) from 11 January 2002 to 18 January 2002. On 15 January, the parties settled the issues in dispute to the Panel's satisfaction.

Application by Pasminco Limited (Administrators Appointed)

The Panel advises that yesterday it received an application by the Administrators of Pasminco in relation to the possible restructure of the Pasminco group of companies by one or more deeds of company arrangement under Part 5.3A of the Corporations Act. The application relates to the decision by ASIC on 4 February 2002 to refuse the Administrators' application for an exemption from section 606 of the Corporations Act. The Administrators now apply to the Panel under section 656A for a review of ASIC's decision.

Normandy Mining Limited 02

An application under section 657A of the Corporations Act by AngloGold Limited for a declaration of unacceptable circumstances in relation to Newmont Mining Corporation's bid for Normandy Mining Limited. The Panel decided on Wednesday, 5 November 2001 not to make a declaration of unacceptable circumstances or orders requiring disclosure by Newmont of an arrangement agreement between it and Franco-Nevada Mining Corporation Limited. These are the reasons for the Panel's decision.

Panel Publishes Guidance Note on Panel Procedures

The Panel today published a Guidance Note outlining the process taken by a sitting Panel and the Panel executive when considering an application. The Guidance Note was prepared in response to feedback received from takeovers market participants and their advisers.

The Guidance Note summarises the steps a sitting Panel usually takes when considering an application and conducting proceedings and outlines the role of the Panel Executive.

Panel Accepts Undertaking by Magic Millions for Increased, Conditional, Full Offer for Broncos

The Panel advises that it has accepted undertakings from Magic Millions in relation to Magic Millions' application under section 657EA of the Corporations Act requesting a review of the decisions in the Brisbane Broncos Nos 1 and 2 proceedings. This follows protracted consultation with the parties in the contested takeover, and a further application to the Panel.

Magic Millions has undertaken to make offers to Broncos shareholders for all of their shares at a bid price of 18 cents.

Panel Publishes Reasons for Decision in Normandy No.5 Broker Handling Fees

The Panel advises that it has today published the reasons for its decision in the matter of Normandy No. 5. The application had been made by Newmont Mining Corporation concerning the modified handling fees that AngloGold Limited announced on 3 December 2001. The modified handling fees were to be payable to brokers whose clients accepted AngloGold's offer for Normandy Mining Limited on or before 11 December 2001.

Application by Magic Millions for Review of Panel's Decision in Brisbane Broncos Nos 1 and 2

Further to its announcement on Tuesday 29 January, the Panel advises that it is still continuing discussions with parties in relation to the application from Magic Millions under section 657EA of the Corporations Act requesting a review of the decisions in the Brisbane Broncos Nos 1 and 2 proceedings.

Normandy Mining Limited 05

An application under sections 657C and 657E of the Corporations Act by Newmont Mining Corporation (Newmont) for a declaration of unacceptable circumstances, interim and final orders in relation to the modified broker handling fee announced by AngloGold Limited (AngloGold) on 3 December 2001 in connection with its takeover offer for Normandy Mining Limited (Normandy). The Panel declined to make a declaration of unacceptable circumstances or orders on Thursday, 6 December 2001 after AngloGold agreed to withdraw the modified broker handling fee.

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