Emu NL (ASX: 04R), a company involved in [insert brief, factual description of company activity], has received affirmation from the Takeovers Panel regarding the variation of orders initially made on 10 July 2025. The review stemmed from Emu NL’s application (TP25/067) to review the Panel’s decision on 1 August 2025 (TP25/066), which sought to vary the orders in Emu NL 03. The review Panel has substantially affirmed the initial Panel’s decision to implement the variation. Emu NL focuses on [insert another sentence describing company’s core business or focus].
The review Panel’s decision modified the initial Panel’s directive, specifically extending the deadline for issuing the notice of meeting and proxy form to no later than 29 August 2025 (Order 2(f)). Additionally, the review clarified the operational aspects of Order 2A. The sitting Panel consisted of Louise Higgins, Ruth Higgins SC, and Nicola Wakefield Evans AM (sitting President).
The amended orders stipulate that Emu NL must issue the notice of meeting and proxy form, in the form that the Panel did not object to on 5 August 2025, as soon as practicable and by no later than 29 August 2025. Furthermore, Emu NL is required to send the members’ statement given to Emu on 1 August 2025 along with the notice of meeting. Redactions to the statement are permitted only to the extent that they conform to the version the Panel did not object to on 5 August 2025.
The Takeovers Panel will publish its detailed reasons for the decision on its website in due course. The variation of orders was formally dated 25 August 2025 and authorised by Tania Mattei, General Counsel, with the authority of Nicola Wakefield Evans AM, President of the sitting Panel.
