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Engenco Limited ( (AU:EGN) ) has issued an update.
Engenco Limited has received an increased all-cash offer from Elph Investments Pty Ltd for its shares, raising the price from 30.5 cents to 31 cents per share. The Recommending Directors of Engenco have unanimously advised shareholders to accept this offer, citing its attractive premium over previous trading prices, the low likelihood of a higher competing offer, and the benefits of liquidity in a market with limited trading activity. With Elph Investments’ interest in Engenco shares nearing the threshold for compulsory acquisition, shareholders are encouraged to accept the offer to avoid the risks associated with remaining minority shareholders.
More about Engenco Limited
Average Trading Volume: 38,275
Technical Sentiment Signal: Hold
Current Market Cap: A$91.64M
See more insights into EGN stock on TipRanks’ Stock Analysis page.