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Emu NL ( (AU:EMU) ) just unveiled an announcement.
Emu NL is facing a shareholder application from Dronkay Pty Ltd concerning its recent financial and governance decisions. The company announced a debt facility agreement with Northmead Holdings Pty Ltd and a subsequent entitlement offer to raise capital. Concerns have been raised about the potential for board-aligned investors to influence the outcome of an upcoming extraordinary general meeting, as well as the use of funds to repay the Northmead loan, which could entrench the current board’s power. The applicant has requested interim and final orders to address these issues, including the reissuance of the entitlement offer prospectus with corrective disclosures.
More about Emu NL
Emu NL is a company listed on the ASX, primarily involved in the exploration of precious and base metals.
Average Trading Volume: 287,795
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$9.03M
See more data about EMU stock on TipRanks’ Stock Analysis page.