ASX-listed Havilah Resources has turned to the Takeovers Panel seeking orders that former director and company co-founder Dr Bob Johnson be barred from voting at a shareholder meeting to decide a A$100-million placement to Sanjeev Gupta’s GFG Alliance, through one of its members SIMEC Mining.
Havilah in May announced the agreement with SIMEC, which would see the funding be provided through a series of equity placements in Havilah, at a premium of up to 35%, over a three-year period, potentially providing GFG with a 51% stake in Havilah, if all the equity placements are made.