Affinity Education Group shareholder West Bridge Holdings, which has past links to hostile suitor G8 Education, will sell its shares on market following interim orders by the Takeovers Panel.
Affinity asked the Takeovers Panel last week to force several shareholders to sell stock recently acquired because it claims they are acting in consortium G8.
The Australian Financial Review revealed in late July that Brisbane-based Taxonomy and Tasmanian-based West Bridge had together bought about $10 million worth of Affinity shares since mid-July, after G8's all-scrip offer for its smaller rival was made public on July 3. The Financial Review also revealed the two shareholders had past links to G8 chair Ms Hutson. At the time lawyers for Ms Hutson said there was no relationship between G8 and the shareholders.
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