Alara Resources Limited (AU:AUQ) has released an update.
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Alara Resources Limited has decided to withdraw its rights issue following the termination of its Underwriting Agreement and is currently in discussions with Al Tasnim Infrastructure LLC for a new underwriting arrangement. Investors who participated in the initial rights issue will receive refunds, and the company assures continuous updates as developments unfold. This move comes amidst ongoing proceedings by the Takeover Panel, signaling a strategic shift as Alara navigates its financial landscape.
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