Shares in the SQM-backed battery metal explorer have surged 45 per cent to $4.01, enriching its board and top executives.
The rally in Azure Minerals stock amid a brewing takeover battle has delivered a windfall to its directors and top shareholders.
Shares in Azure have surged 45 per cent to a high of $4.01 since October 23 when Chile’s SQM lobbed a $3.52 per share takeover bid for the miner, which owns the Andover project in the west Pilbara. The stock closed 4.1 per cent higher to $3.85. Amid speculation Mr Ellison’s Mineral Resources is mounting a potential challenge to SQM’s takeover, more than 21 million shares changed hands on Friday.
Mr Rovira has made a paper gain of $13.6 million, after exercising 4 million equity options on November 2. At $4 a share, that brings the total value of Mr Rovira’s 6,531,310 million shares to $26.1 million.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
MIN ASX: MinRes makes down payment in billion-dollar lithium blitzBillionaire Chris Ellison faces paying a loftier premium for the Bald Hill lithium mine, and SQM is bracing for more competition for Azure Minerals.
Read more »
ASX 200 LIVE: ASX to rise, Wall St rallies as Fed rate bets resetAustralian shares are poised to open higher. US bond yields plunge. $A reaches for US64¢. BoE policy meeting ahead. Follow updates here.
Read more »
ASX 200 LIVE: ASX to rise, tracking Wall Street; Macquarie earnings aheadShares are set to rise 1 per cent as Wall Street rallies; Coles, Downer EDI hold AGM’s. Follow here for more
Read more »
ASX 200 LIVE: ASX rallies; Qantas AGM starts; Bankman-Fried convictedShares advance 1 per cent near noon; Macquarie profits slide; oil rises; Qantas rallies after AGM kicked off. Follow here for more.
Read more »
ASX 200 LIVE: ASX rallies; Qantas AGM starts; Bankman-Fried convictedShares advance 1 per cent near noon; Macquarie profits slide; oil rises; Qantas rallies after AGM kicked off. Follow here for more.
Read more »
ASX 200 LIVE: ASX rallies; Qantas AGM starts; Bankman-Fried convictedShares advance 1 per cent near noon; Qantas shareholders press chairman about Joyce sell-down; Macquarie profits slide; Block jumps on guidance upgrade; oil rises Follow here for more.
Read more »