The Australian Government's Takeovers Panel has withdrawn FBR (ASX:FBR) shareholder Bob Cies's application, seeking interim orders to defer the company's extraordinary general meeting, which was scheduled to be held on May 6, according to a Wednesday filing with the Australian bourse.

The Panel confirmed that it was satisfied that permitting the applicant to withdraw his application was not contrary to the public interest.

Since the Panel had not yet decided whether to proceed with the case, it stated that it would not publish reasons for the withdrawal.

Shares of the company fell 8% in recent Wednesday trade.