Takeovers Panel Reports on Achieving Its Objectives

Takeovers Panel Reports on Achieving Its Objectives Despite Quiet Year for Transactions

The 2014 Annual Report of the Takeovers Panel has just been published, having been tabled in Parliament.

The Panel reports on a year of variable corporate activity, with the transactions that required monitoring tending to come in clusters. This provided opportunities for the Panel to switch to a public education focus whenever its monitoring role allowed.

The Panel monitored 17 transactions regulated by the Takeovers Code, including the high-profile takeover ofSynlait Farms Limited. This compares with 21 Code-regulated transactions over the 2013 year.

David Jones, Chairman of the Takeovers Panel, said today: "Although the year saw growth in the pipeline of new Code companies, through listings and crowd funding, the takeovers market itself had only occasional busy periods of activity. The Panel was able to focus resources on its public education services by developing publications for shareholders and directors."

The Panel's Chief Executive, Margaret Bearsley, pointed out the very positive feedback the Panel has received over the year from its stakeholders. All of the respondents to the Panel's client satisfaction survey said they were satisfied overall with the Panel's processes and with its professionalism. "The Panel is grateful to the stakeholders who take the time to provide feedback. They have told us we are doing a good job, and we will do our best to maintain that level of performance," Ms Bearsley said.

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