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Golden Energy and Resources buys remaining stake in Stanmore-linked company for US$30 million

Amala Balakrishner
Amala Balakrishner12/10/2021 7:10 PM GMT+08  • 1 min read
Golden Energy and Resources buys remaining stake in Stanmore-linked company for US$30 million
Gear will buy out the 20.33% or 32.55 million shares in Global Investments (Australia) held by the Ascend Global Investment Fund.
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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.

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