(Alliance News) - Aura Energy Ltd said Monday that the Australian Takeover Panel has declined to conduct proceedings on an application by the company for clarity on its shareholdings.
On May 20, the minerals explorer applied for interim orders restraining ASEAN Deep Value Fund, Pre-Emptive Trading Pty Ltd, and certain named individuals from buying further shares in the company and from disposing of, or exercising any voting shares attaching to, the shares in which they have a relevant interest.
The takeover panel said that Aura did not provide a sufficient body of material to justify the panel made further enquiries and concluded that there was no chance it would make a declaration of unacceptable circumstances.
Shares in Aura Energy were untraded on Monday in London, last quoted at 0.18 pence.
By Dayo Laniyan; dayolaniyan@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
Aura Egy (AURA)