They (STO) already hold a 48% stake in the resource through their 20% holding in ESG and 35% stake from Gastar. Sounds pretty near 50% already.
Does the creep rule exemption still apply for foreign entities. I am guessing it would but could be removed as a part of FIRB approval. I know they have to get FIRB approval for a stake of over 15% or aggregate 40%.
Disclosure is still required it they increase their holding though.CORPORATIONS ACT 2001 - SECT 671B. The creep rule simply permits them to acquire interest without having to make a t/o bid.
SF
ESG Price at posting:
$1.09 Sentiment: Buy Disclosure: Held
