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Keybridge Capital Faces Boardroom Battle Amid Yowie Takeover Bid

Story Highlights
  • Keybridge Capital is embroiled in a takeover bid by Yowie, contingent on board composition.
  • WAM Nominees’ actions are claimed to frustrate the bid, impacting minority shareholders.
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Keybridge Capital Faces Boardroom Battle Amid Yowie Takeover Bid

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Keybridge Capital Limited ( (AU:KBC) ) just unveiled an update.

Keybridge Capital Limited is involved in a complex corporate situation involving an off-market takeover bid by Yowie for all its ordinary shares. The bid is contingent upon maintaining the current board composition of Yowie, which Keybridge is attempting to alter. This has led to a dispute involving WAM Active Limited, which has provided bridge funding to Keybridge and has its nominees on Keybridge’s board. The situation has resulted in an application to the Panel by Nicholas Bolton, who claims that the actions of the WAM Nominees are frustrating the takeover bid and denying minority shareholders a liquidity opportunity. The President has declined to make interim orders, citing the late stage of the application and potential prejudice to Keybridge.

More about Keybridge Capital Limited

Technical Sentiment Signal: Sell

Current Market Cap: A$9.72M

See more insights into KBC stock on TipRanks’ Stock Analysis page.

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