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GENERATION DEVELOPMENT GROUP LIMITED — Legal Proceedings Report 2010
Mar 24, 2010
64973_rns_2010-03-24_9958c414-7969-49ac-8a6c-28ad4cca2851.pdf
Legal Proceedings Report
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ASX Announcement
25 March 2010
ACCC opposes sale of Newreg Pty Ltd to Link Market Services
On 22 December 2009, Austock Group Limited (ASX:ACK) announced it had entered into an agreement to sell its 16.7% shareholding in Newreg Pty Limited or approximately $8 million.
The ACCC has concluded that the acquisition of Newreg by Link would substantially lessen competition in the national market for securities registration and related services and as a consequence intends to oppose the proposed acquisition.
Austock, along with the other shareholders of Newreg, are reassessing their respective positions in light of the ACCC decision.
For further information please contact:
Paul Masi Managing Director Tel: (02) 9233 9648
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Austock Group Limited ABN: 90 087 334 370 Level 1, 350 Collins Street, Melbourne, Vic 3000 Telephone: 61 3 8601 2049 Facsimile: 61 3 9670 3081 Email: [email protected] Website: www.austock.com