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CORPORATIONS ACT 2001 - SECT 650C

Off-market bids--extension of offer period

             (1)  A bidder making an off-market bid may extend the offer period at any time before the end of the offer period.

             (2)  If the bid is subject to a defeating condition, the bidder may extend the offer period after the publication of the notice under subsection 630(3) only if one of the following happens after the publication:

                     (a)  another person lodges with ASIC a bidder's statement for a takeover bid for securities in the bid class;

                     (b)  another person announces a takeover bid for securities in the bid class;

                     (c)  another person makes offers under a takeover bid for securities in the bid class;

                     (d)  the consideration for offers under another takeover bid for securities in the bid class is improved.

Note:          Section 624 says how long the total offer period can be.



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