Coal miner Stanmore Coal on Thursday urged shareholder snot to take any action in relation to an on-market takeover offer from shareholder Golden Investment.
Golden Investment has launched a takeover bid for Stanmore, offering shareholders A$1 in cash for every share held. ASX-listed Petra Capital, which is acting on behalf of Golden Investments, on Thursday said that it would purchase up to a maximum of 50.31-million Stanmore shares on-market at the offer price, prior to the start of the offer period on April 17.