Panel Endorses ERA’s $880M Equity Raise Decision

Energy Resources of Australia Ltd. Class A (AU:ERA) has released an update.

The Review Panel has rejected calls for a declaration of unacceptable circumstances regarding the $880 million equity raise by Energy Resources of Australia Ltd. They found the company’s Independent Board Committee adhered to guidance on rights issues amidst exceptional circumstances, and that the equity raise was deemed the only feasible option. The Panel’s reasons will be published on the Takeovers Panel’s website.

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