The Australian Takeovers Panel has received an application to prevent uranium miner Energy Resources of Australia (ERA) from undertaking its proposed A$476-million renounceable entitlement offer.
The miner last week announced plans for a fully underwritten 6.13-for-1 pro-rata renounceable entitlement offer, priced at 15c a share, with some 3.17-billion shares to be issued under the offer.