St Barbara Becomes Brightstar Resources' Largest Shareholder; Listed Investments Portfolio Rises to AU$35 Million
St Barbara SBM is now Brightstar Resources' largest shareholder following the latter's acquisition of Linden Gold Alliance.
The gold producer's shareholding of roughly 10.1%, or 462.1 million shares, will be voluntarily escrowed for 12 months. A further 110 million shares related to the conversion of Linden's debt will be issued to St Barbara on the completion of the takeover deal.
As a result, St Barbara’s current listed investments increased to AU$35 million in value or 19% of its market capitalization.
...it looks like St Barbara will acquire Brightstar within 12 months.
SBM Price at posting:
24.5¢ Sentiment: None Disclosure: Held
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