Coal miner Golden Energy and Resources (Gear) is looking to consolidate its stake in its subsidiary – Golden Investments (Australia) – with a cash consideration of US$30 million ($41.0 million).
With this, Gear will buy out the 20.33% or 32.55 million shares in Global Investments (Australia) held by the Ascend Global Investment Fund. Presently, Gear holds the remaining 79.7% or 127.3 million shares.
Global Investments (Australia) currently holds around 75.33% of the total issued ordinary share capital of the Australian exchange-listed Stanmore Resources.
For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
