31. May 2011 14:06
The Takeovers Panel has accepted an undertaking from Wellington Capital Limited as Responsible Entity of the Premium Income Fund (PIF) in relation to the application dated 11 May 2011 by Wellington in relation to the affairs of PIF.
The Panel was concerned that a statement in the media release made by Wellington on 24 May 2011 was contrary to the undertakings given in its Notice of Appearance. The effect of the undertaking is that Wellington will satisfy its obligations under the Notice of Appearance it gave regarding media canvassing.
The sitting Panel in this matter is Peter Scott (sitting President), Byron Koster and Diana Chang. The Panel makes no comment on the merits of the application.
A copy of the undertaking is available on the Takeovers Panel website.