Sierra Rutile Holdings Limited (AU:SRX) has released an update.
Sierra Rutile Holdings Limited is at the center of a complex on-market takeover bid by PRM Services LLC amid allegations of collusion among significant shareholders to restart operations at a key mining site. These shareholders, who have acquired substantial interests, are accused of exceeding takeover regulations and exerting undue influence, prompting an application to the Takeovers Panel for intervention. The Panel has yet to decide on conducting proceedings, while the takeover bid is set to close by the end of July 2024.
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