Sierra Rutile Holdings Limited (AU:SRX) has released an update.
Sierra Rutile Holdings Limited witnessed a significant shift in ownership as Leonoil Company Limited and its associates, including Vincent L Kanu Jnr. and Mohamed B Cole, increased their voting power from 88.92% to 91.59% through recent acquisitions. These acquisitions were part of an off-market takeover bid by Leonoil, detailed in their offer on July 30, 2024, and additional on-market purchases. The moves reflect a notable change in the control dynamics of the company, with Leonoil and its group entities solidifying their position as substantial holders.
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