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Magontec Limited ( (AU:MGL) ) has issued an announcement.
Magontec Limited has announced the completion of a significant corporate restructuring involving the termination of cooperation agreements with Qinghai Salt Lake Magnesium Co. Limited (QSLM). This resulted in the buyback and cancellation of all QSLM’s shares in Magontec, in exchange for certain fixed assets and the mutual agreement to forego future legal claims. This strategic move is expected to impact Magontec’s operations by consolidating its ownership structure and potentially strengthening its market position.
More about Magontec Limited
Magontec Limited is an Australian company operating in the magnesium industry, with its shares publicly traded on the Australian Securities Exchange under the code ‘MGL’. The company, through its subsidiaries, is involved in the production and distribution of magnesium products, with operations in Germany, Romania, China, and the United States.
Average Trading Volume: 17,416
Technical Sentiment Signal: Sell
Current Market Cap: A$13.96M
Find detailed analytics on MGL stock on TipRanks’ Stock Analysis page.