ASIC delays Cobra bid

CONVICTED bank robber Terry Stephens' bid to take control of Cobra Resources has been put on hold by Australia's Takeovers Panel until the watchdog has made a decision on his application.

ASIC delays Cobra bid ASIC delays Cobra bid ASIC delays Cobra bid ASIC delays Cobra bid ASIC delays Cobra bid

The panel ordered Stephens not to dispatch his bidder's statement to Cobra shareholders, nor to acquire any shares in Cobra which would result in his voting interest exceeding 20%.

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