Locality Planning Energy Holdings Limited (AU:LPE) has released an update.
Locality Planning Energy Holdings Limited (ASX:LPE) has avoided a potential declaration of unacceptable circumstances by the Takeovers Panel after its directors provided undertakings in response to share acquisition concerns during an off-market takeover bid by River Capital. The undertakings require the directors to accept River Capital’s bid for shares acquired in the questioned period if it gives River Capital over 50% voting power. The Panel, finding the directors’ response sufficient for public interest, will release its decision reasons on its website.
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