The high court has set aside a ruling by the Takeover Regulation Panel (TRP) that withdrew approval for Novus’s mandatory offer to acquire Mustek shares.
Novus announced in November 2024 that it would make a Firm Intention Announcement (FIA) to Mustek shareholders to acquire shares it does not already hold, which was initially agreed by the TRP.
In March 2025, the TRP withdrew its approval.
Now, the high court has granted an order declaring the TRP ruling to be unconstitutional and setting it aside.
Novus will now publish the original FIA and a supplementary firm intention announcement dated 6 March 2025.