Alto offer sunk by Takeovers Panel

ALTO Metals’ plans to complete a A$5.1 million entitlement offer, which was backed to the tune of $2.6 million by its major shareholders, have been deep-sixed by Australia’s Takeovers Panel in response to complaints from hostile bidder Habrok Mining it was "an unacceptable lock-up device".

Alto offer sunk by Takeovers Panel Alto offer sunk by Takeovers Panel Alto offer sunk by Takeovers Panel Alto offer sunk by Takeovers Panel Alto offer sunk by Takeovers Panel
The panel concluded unacceptable circumstances arising from Alto's actions, that the Western Australian gold explorer made potentially misleading statements, and was acting "contrary to an efficient,

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