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Canyon Resources Says Takeovers Panel Accepts Undertakings Over A2MP Takeover Bid

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Canyon Resources (ASX:CAY) said the Takeovers Panel has accepted undertakings from the company and A2MP Investments over concerns about the management of confidential information and the independence of Canyon's independent board committee (IBC) during A2MP's takeover bid, according to an Australian bourse filing on Monday after market hours.

The company must amend its IBC charter to safeguard against insider influence and unauthorized disclosure of confidential information, while A2MP must neither access nor receive such information without IBC approval and must implement a Panel-approved nominee protocol, per the filing.

The undertakings will remain in effect until the later of the bid closing or lapsing, or the determination of the proceedings, the filing said.

The Panel's interim orders also prevent A2MP from processing acceptances or declaring the bid unconditional without its consent, the filing added.

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Orora Chief Safety, Sustainability, Governance Officer to Step Down at End of Year

Orora (ASX:ORA) said Ann Stubbings plans to step down as chief safety, sustainability, and governance officer, effective Dec. 31, after more than 13 years with the packaging products firm, according to a Monday filing with the Australian bourse.In addition, Susannah Jobling Hodgens will be appointed as chief legal officer, the company said. Hodgens has worked with Orora for 13 years in senior legal and governance roles, most recently as general counsel and alternate company secretary.Orora shares gained nearly 1% in recent Monday trade.

ASX:ORA
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Biokin Pharma Enrolls First Patient in Phase Three Trial for Breast Cancer Drug; Shares Up 4%

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SHA:688506
Asia

Market Chatter: Korea Exchange to Extend Trading Hours till 8PM

South Korea's main stock market, the Korea Exchange, will enable trading till 8 pm following the regular close at 3:30 pm from Monday, in its move toward 24-hour trading, Bloomberg News reported Sunday.This decision opens 2,400 Korea Composite Stock Price Index, or Kospi, and Kosdaq stocks for evening trades, which include short-selling. The move excludes exchange-traded funds, the report said.The Korea Exchange plans to introduce pre-market trading by the end of next year, it said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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