Federal Court of Australia
Federal Court of Australia
PM Capital Asian Opportunities Fund Limited, in the matter of PM Capital Asian Opportunities Fund Limited [2021] FCA 1380 File number: VID 607 of 2021
Judgment of: BEACH J
Date of judgment: 4 November 2021
Date of publication of reasons: 8 November 2021
Catchwords: CORPORATIONS – members' scheme of arrangement – competing takeover offer - convening of scheme meeting – ss 411(1) and 1319 of the Corporations Act 2001 (Cth) – scheme consideration - scrip consideration – exchange ratio – ratio of net tangible assets per share of target to net tangible assets per share of acquirer – question of separate classes – tagging of shares – relevance of Takeovers Panel proceedings – orders made
Legislation: Corporations Act 2001 (Cth) ss 11, 12, 15, 411, 412, 606, 608, 610, 633, 638, 1319
Cases cited: Re Foundation Healthcare Ltd (2002) 42 ACSR 252 Re Templeton Global Growth Fund Limited [2021] NSWSC 1169
Division: General Division
Registry: Victoria
National Practice Area: Commercial and Corporations
Sub-area: Corporations and Corporate Insolvency
Number of paragraphs: 103
Date of hearing: 4 November 2021
Counsel for the Plaintiff: Mr B Holmes
Solicitor for the Plaintiff: Baker McKenzie
Counsel for the Intervener: Mr M Pesman SC
Solicitor for the Intervener: Mills Oakley
ORDERS VID 607 of 2021 IN THE MATTER OF PM CAPITAL ASIAN OPPORTUNITIES FUND LIMITED (ACN 168 666 171) PM CAPITAL ASIAN OPPORTUNITIES FUND LIMITED (ACN 168 666 171) Plaintiff
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