Energy Resources of Australia Says Australian Takeovers Panel to Conduct Proceedings on its AU$880 Million Equity Raise; Shares Up 10%

MT Newswires Live10-07

Rio Tinto (ASX:RIO)-owned Energy Resources of Australia (ASX:ERA) said the Australian Takeovers Panel will conduct proceedings relating to its around AU$880 million equity raise, according to a Monday filing with the Australian bourse.

Zentree Investments and Packer & Co. had applied to review the Panel's previous decision not to conduct proceedings, the filing stated.

Energy Resources of Australia's shares jumped 10% in recent Monday trade.

Price (AUD): $0.01, Change: $+0.001, Percent Change: +10.00%

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