Shareholder makes a play for Stanmore
PERTH (miningweekly.com) – Coal miner Stanmore Coal on Thursday urged shareholders not to take any action in relation to an on-market takeover offer from shareholder Golden Investment.
Golden Investment has 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, on Thursday 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The offer period will end on May 18, unless extended or withdrawn.
The on-market offer represented a 22% premium to Stanmore’s last closing price and a 27.3% premium to the company’s 30-day volume weighted average share price to April 1.
Stanmore told shareholders that the company would provide a recommendation on the takeover offer in due course, and advised that shareholders who immediately accepted the offer would be unable to participate in any subsequent increases in the offer price.
Golden Investments currently holds a 31.35% interest in Stanmore, with Stanmore having more than 256-million shares.
Comments
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation