Australia

Alto Metals new substantial shareholder increases stake

Alto Metals Ltds (ASX:AME) new substantial shareholder Harvest Lane Asset Management has increased its holding from 5.32% to 6.34%.

The special situations investment manager is focused on selecting high-return and/or low-risk opportunities arising from takeover and corporate activity.

Harvest Lane became a substantial shareholder in Alto on February 27, 2020.

Recent takeover offer from Goldsea

Alto received a 6.5 cents per share off-market cash takeover offer from Goldsea Australia Mining Pty Ltd in late February 2020.

The offer values Alto at $20.7 million and is subject to a number of conditions, including a 90% minimum acceptance condition and approval of the Australian Foreign Investment Review Board (FIRB).

Alto is focused on exploration at iRead More – Source