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An announcement from Manhattan Corporation ( (AU:MHC) ) is now available.
Manhattan Corporation Limited has announced a General Meeting to discuss a Proposed Transaction involving the issuance of 200,000,000 Consideration Shares to Vendors, which could increase their voting power to a maximum of 45.99%. The Independent Expert’s Report, prepared by BDO Corporate Finance Australia Pty Ltd, concludes that while the transaction is not fair, it is reasonable for shareholders. Additionally, the company seeks approval for issuing 150,000,000 Consideration Performance Rights to Principal Vendors with a nil exercise price and a five-year expiry.
More about Manhattan Corporation
Average Trading Volume: 1,446,092
Technical Sentiment Signal: Sell
Current Market Cap: A$4.46M
For an in-depth examination of MHC stock, go to TipRanks’ Overview page.