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BRIEF-Australian Government Takeovers Panel declined to conduct proceedings on application from Echo Resources

Published 20/07/2015, 04:57 pm
© Reuters.  BRIEF-Australian Government Takeovers Panel declined to conduct proceedings on application from Echo Resources

July 20 (Reuters) - Australian Government Takeovers Panel :

* says on 25 june 2015, echo received a section 249d notice

* declined to conduct proceedings on an application dated 10 july 2015 from echo resources limited in relation to its affairs

* concluded there was no reasonable prospect that it would make a declaration of unacceptable circumstances & declined to conduct proceedings

* echo submitted that michael soucik was an associate of the requisitioning associates and that the substantial holder notice lodged by them was deficient

* notice seeking removal of two directors and notice of intention to convene meeting for appointment of two new directors

* Source text (http://bit.ly/1gJzGqu)

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