Molopo shares returned to trading yesterday following orders made by the Takeovers Panel that supports a divestment order, requiring Keybridge and Aurora to sell down a portion of their shares in Molopo.
While an earlier panel found no "association" between Keybridge Capital and Aurora Funds Management, despite links between the two parties, a review found that there was an association between the characters behind the two funds that gave rise to control over Molopo that was unacceptable, and breached the rules.
Molopo has until July 31 to demonstrate a level of oil and gas operations sufficient, in ASX's opinion, to warrant the continued quotation of its securities.
The company said it was continuing to evaluate transactions in the oil and gas sector, in particular the United States and Canada.""
MPO Price at posting:
12.0¢ Sentiment: None Disclosure: Held
