Namoi Cotton Ltd (AU:NAM) has released an update.
Olam Agri Australia Pty Ltd has significantly increased its stake in Namoi Cotton Limited, now holding 16.34% of the company’s shares, up from a previous 6.02%. This was accomplished through a recent acquisition of a 9.9% shareholding from Samuel Terry Asset Management and Harvest Lane Asset Management, settled at $0.75 per share. The strategic move comes as part of Olam Agri’s off-market takeover offer to acquire all ordinary shares of Namoi.
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