Engenco Limited ( (AU:EGN) ) has provided an announcement.
Engenco Limited has received an off-market takeover offer from Elph Investments Pty Ltd, part of the Elphinstone Group, to acquire all ordinary shares at $0.305 per share. The Elphinstone Group already holds a significant stake in Engenco, and a special committee of independent directors has been formed to evaluate the offer. The offer is contingent upon several conditions, including Elph Investments acquiring a relevant interest in over 92.13% of Engenco shares. Engenco plans to issue a Target’s Statement with recommendations and an independent expert’s opinion by mid-May. Until then, shareholders are advised to take no action.
More about Engenco Limited
Engenco Limited operates in the engineering and transportation sectors, offering a range of products and services including rail and road transport, power generation, and workforce training. The company focuses on providing solutions to the defense, resources, and infrastructure industries.
YTD Price Performance: 58.33%
Average Trading Volume: 97,364
Technical Sentiment Signal: Hold
Current Market Cap: A$90.06M
See more data about EGN stock on TipRanks’ Stock Analysis page.