Emu NL (ASX: 04R) has applied to the Takeovers Panel for a review of its decision to vary orders in the Emu NL 03 case. Emu NL, which engages in [fictional business activity], is contesting orders previously issued by the Panel. The initial decision being challenged was made on July 10, 2025, and subsequently varied on August 1, 2025.
The application seeks to review the Panel’s decision regarding order 1(b), order 2A, and order 2(f). However, the President of the Takeovers Panel declined to grant interim orders requested by Emu NL to stay these specific orders. This means the contested orders remain in effect while the review application is considered.
At this stage, the Takeovers Panel has not yet appointed a review panel to consider the application. Furthermore, no decision has been made regarding whether to conduct any further proceedings related to the matter. The Panel has stated it will refrain from commenting on the merits of the application at this time.
The announcement was made by Allan Bulman, Chief Executive of the Takeovers Panel. Further inquiries can be directed to the Takeovers Panel in Melbourne.
