Locality Planning Energy Holdings Limited (AU:LPE) has released an update.
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Locality Planning Energy Holdings Limited, an ASX-listed utility services company, is facing an off-market takeover bid from its largest shareholder, which has prompted the latter to file an application alleging improper share acquisitions and association disclosure failures by Locality’s directors. The application is under consideration by the Takeovers Panel, which has yet to appoint a sitting Panel or decide on conducting proceedings, but it could lead to restrictions on share acquisitions and voting by the directors and associated parties.
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