Second time lucky for Golden Energy's takeover bid for Stanmore Coal

Singapore

COAL producer Golden Energy and Resources (Gear) has snagged a controlling stake in Stanmore Coal, a day after announcing a fresh takeover bid for the Australian firm.

Mainboard-listed Gear on Thursday made on-market purchases of 50.3 million Stanmore Coal shares at A$1 (S$0.86) apiece in cash from a range of institutional and other shareholders, it said on Friday.

These shares represent a 19.7 per cent stake …

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