A seized $47 million stake in gold miner Tribune Resources is finally on the market, with investment bank Morgan Stanley mandated to offload the shares inside six months.
Interest in the stock, however, is uncertain given governance issues around Tribune and the companys liquidation of its large gold inventory last year to support a special dividend.
The Takeovers Panel ordered the forced divestment of most of the 26 per cent Tribune stake held by its sister company Rand Mining in late October.
The decision comes after investigations which found that investment entities associated with Tribune and Rands managing director, Anton Billis, had materially misinformed Tribune shareholders about his true ownership of the company.
Read the full article at: https://thewest.com.au/business/gold/morgan-stanley-selling-47m-in-shares-for-tribune-resources-ng-b881082995z