https://www.engineeringnews.co.za
Coal
Coal
coal

Golden Investment's stake in Stanmore jumps

7th April 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Takeover target Stanmore Coal has again urged shareholders not to take any action in relation to a takeover offer from suitor Golden Investments, after its shareholding in the company increased from just over 31% to around 51%.

Golden Investment last week launched a takeover bid for Stanmore, offering shareholders A$1 in cash for every share held.

ASX-listed Petra Capital, which is acting on behalf of Golden Investments, said that it would purchase up to a maximum of 50.31-million Stanmore shares on-market at the offer price, prior to the start of the offer period on April 17.

The offer period will end on May 18, unless extended or withdrawn.

Stanmore on Tuesday said that the company’s board had formed a committee of independent directors to consider the offer and to provide a recommendation to shareholders, and urged shareholders not to take any action in relation to the offer until a recommendation has been made.


 

Edited by Creamer Media Reporter

Comments

Showroom

Showroom image
Alcohol Breathalysers

Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers

VISIT SHOWROOM 
Hanna Instruments Image
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (26/04/2024)
Updated 6 hours ago By: Martin Creamer
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.08 0.135s - 158pq - 2rq
Subscribe Now