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An announcement from Emu NL ( (AU:EMU) ) is now available.
Emu NL is facing scrutiny as a shareholder and former director, Mr. Oliver Douglas, has submitted an application to the Takeovers Panel regarding recent corporate actions. The application challenges the legitimacy of a $1.4 million institutional placement, alleging it was conducted for improper purposes despite previous statements of financial sufficiency. Concerns are raised about undisclosed relationships among shareholders and advisors, potentially influencing board control. The applicant seeks interim and final orders to address these issues, including preventing share issuance and voting rights until a resolution is reached.
More about Emu NL
Emu NL is a precious and base metals explorer listed on the Australian Securities Exchange (ASX).
Average Trading Volume: 417,083
Technical Sentiment Signal: Buy
Current Market Cap: A$12.59M
See more data about EMU stock on TipRanks’ Stock Analysis page.