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Magontec Limited ( (AU:MGL) ) has issued an announcement.
Magontec Limited has announced a change in the interests of a substantial holder, Allan Gray Australia Pty Ltd, which has been managing investment mandates for various funds. The change, dated February 5, 2025, has resulted in an increase in Allan Gray’s voting power from 19.69% to 27.44% due to a reduction in the total issued share capital following a share buyback transaction by Magontec. This adjustment in voting power may impact the company’s governance and strategic decision-making processes.
More about Magontec Limited
YTD Price Performance: 38.89%
Average Trading Volume: 10,505
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$14.24M
For a thorough assessment of MGL stock, go to TipRanks’ Stock Analysis page.