Pact Group Holdings Ltd. (AU:PGH) has released an update.
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Pact Group Holdings Ltd has been involved in a takeover bid by Bennamon Industries, during which allegations of misleading statements were made. The Panel, after reviewing the claims and Bennamon’s subsequent corrective actions, including providing additional disclosure and offering withdrawal rights to certain shareholders, has decided not to proceed with any formal action. The decision is based on the Panel’s satisfaction with Bennamon’s response and the Australian Securities and Investments Commission’s (ASIC) relief.
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