Ann: Conclusion of Panel Proceedings, page-18

Now, FMS shareholders, keep your eye on this web page https://www.takeovers.gov.au/content/ListDocuments.aspx?pageid=&doctype=RD&year=2019

When it is ready you’ll see posted the Reasons for Decision by the Takeover Panel (TOV).  This could be in the next day or two but may take a week or two.  The “Reasons” are usually fairly detailed and with a finding of Unacceptable Circumstances, those reasons “may” not be complimentary of FMS and TIO/Todd.  We’ll have to wait and see.  Keep your eye on the website as there will likely be no announcement by the TOV or FMS.