I don't know if this was posted before... Very interesting article none the less.
Looks like some prominent Lynas shareholders are trying to get a court injunction:
LYNAS CORPORATION'S contentious sale of a rich rare earths and metals deposit to a related party, Forge Resources, has attracted the corporate regulator's attention, and a key shareholder vote will be delayed because of concerns over disclosure.
Having boasted of "our next project" with "over $50 billion metal content" as recently as 2007, Lynas has now decided its Crown polymetallic deposit is "non-core" and has asked its shareholders to approve its sale to Forge for $20.7 million.
The executive chairman of Lynas, Nicholas Curtis, is also a director and 15 per cent shareholder of Forge. He stands to vest 24 million performance shares in Forge - worth close to $30 million at current share prices - if the deal succeeds. This will boost his stake in Forge, and ownership of the Crown ore body, to close to 40 per cent. He owns less than 1 per cent of Lynas.
http://www.smh.com.au/business/asic-concerns-delay-lynas-deal-20110424-1dsys.html
- Forums
- ASX - By Stock
- LYC
- more on crown
more on crown, page-27
-
- There are more pages in this discussion • 7 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add LYC (ASX) to my watchlist
(20min delay)
|
|||||
Last
$7.98 |
Change
0.220(2.84%) |
Mkt cap ! $7.337B |
Open | High | Low | Value | Volume |
$7.75 | $7.98 | $7.75 | $16.42M | 2.079M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
36 | 17092 | $7.97 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$7.98 | 18657 | 21 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
40 | 14642 | 7.970 |
34 | 23250 | 7.960 |
19 | 20045 | 7.950 |
11 | 19637 | 7.940 |
10 | 20610 | 7.930 |
Price($) | Vol. | No. |
---|---|---|
7.980 | 21387 | 28 |
7.990 | 39743 | 33 |
8.000 | 132460 | 59 |
8.010 | 37371 | 12 |
8.020 | 86681 | 13 |
Last trade - 13.44pm 30/09/2024 (20 minute delay) ? |
Featured News
LYC (ASX) Chart |