Skin Elements Ltd: Panel Declines to Conduct Proceedings
Key points
- Panel accepts undertaking from 62 Capital
- Declines to conduct proceedings on application
- 62 Capital not to enforce certain subscription agreement clauses
Full summary
The Takeovers Panel has declined to conduct proceedings on an application from Skin Elements Limited, after accepting an undertaking from 62 Capital Pty Ltd. The application, dated 25 May 2026, concerned an alleged association in the context of upcoming board spill meetings. The Panel considered that the undertaking from 62 Capital adequately addressed concerns by removing restrictions on the transfer or disposal of Placement securities. The Panel also concluded that insufficient evidence had been provided to warrant further enquiries into whether 62 Capital and others were acting in concert.
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