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New World Resources Agrees to Share Issuance Undertaking

Story Highlights
  • New World Resources Limited has agreed to an undertaking with the Takeovers Panel.
  • The company will not issue shares to Central Asia Metals PLC without the Panel’s consent.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
New World Resources Agrees to Share Issuance Undertaking

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New World Resources Limited ( (AU:NWC) ) just unveiled an announcement.

New World Resources Limited has agreed to an undertaking with the Takeovers Panel, following an application by Kinterra Capital GP Corp II. The company will not issue any shares to Central Asia Metals PLC or its associates as part of a previously announced placement without the Panel’s prior consent. This decision affects the company’s share issuance strategy and could impact its capital-raising efforts, pending the Panel’s proceedings or until two months from the undertaking date.

The most recent analyst rating on (AU:NWC) stock is a Buy with a A$0.12 price target. To see the full list of analyst forecasts on New World Resources Limited stock, see the AU:NWC Stock Forecast page.

More about New World Resources Limited

Average Trading Volume: 26,274,606

Technical Sentiment Signal: Buy

Current Market Cap: A$228.7M

For an in-depth examination of NWC stock, go to TipRanks’ Overview page.

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