FINWIRES · TerminalLIVE
FINWIRES

Loyal Metals Says Bumi Resources Deal Remains on Track

By

Loyal Metals (ASX:LLM) said its proposed AU$0.45 per share acquisition by Bumi Resources remains on track, with shareholders due to vote on the deal on Thursday and the second court hearing scheduled for Aug. 24, according to an Australian bourse filing on Wednesday after market hours.

Foreign Investment Review Board and ministerial approvals have been received, with the Highway Project acquisition expected to complete on Friday, subject to the required Thalanga Copper Mines and BML Holdings consents, per the filing.

The independent expert continues to consider the scheme fair and reasonable and in shareholders' best interests as convertible securities are converted into ordinary shares, the filing said.

The company said the remaining conditions are on track, although any delay in completing the sale and purchase agreement or obtaining the necessary consents could postpone the court hearing.

Related Articles

Asia

Market Chatter: Mitsubishi Logistics Plans $40 Million Investment in Two New Distribution Centers in US

Mitsubishi Logistics (TYO:9301) plans to build two new distribution centers in Charlotte, North Carolina, and Houston, Texas, in the U.S. with an investment worth $40 million and later sell the assets, boosting returns on equity, Nikkei Asia reported Wednesday.The investments are part of a plan to expand the overseas real estate business of the company, with the completion of the centers scheduled for 2027, the report said.The new centers, located in the Sun Belt, will span 230,000 square feet in Charlotte and 710,000 square feet in Houston. The proceeds from selling the assets will be used to fund other growth investments, according to the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Nikkei 225TYO:9301
Asia

Viva Leisure Declares Maiden Dividend, Shares Rise 9%

Viva Leisure's (ASX:VVA) board declared a maiden dividend of AU$0.03 per share payable Oct. 20 to shareholders on record as of Sept. 29, according to a Wednesday Australian bourse filing.Its shares rose 9% in recent trading on Wednesday.

ASX:VVA
Asia

ITMAX System Bags New Order Worth MYR187 Million

ITMAX System (KLSE:ITMAX) has secured an order worth 186.8 million ringgit from the Pertubuhan Keselamatan Sosial (Perkeso), according to a Tuesday filing to the Malaysian stock exchange.The company's shares were down over 1% in Wednesday's trade.Under the contract, the company will develop, integrate, deploy, operate and maintain Perkeso's artificial intelligence (AI)-powered employment portal.The contract will be valid for five years starting Sept. 1 to Aug. 31, 2031.

KLSE:ITMAX
Loyal Metals Says Bumi Resources Deal Remains on Track | FINWIRES