Locality Planning Energy Holdings Limited (AU:LPE) has released an update.
Locality Planning Energy Holdings Limited (LPE) has urged shareholders to reject an unsolicited takeover bid from River Capital, priced at 8 cents per share, deeming it undervalues the company. The directors, holding a combined 19.65% of shares, have stated they will not accept the offer, which is unlikely to proceed without their support. Additionally, LPE is planning an on-market share buyback to increase liquidity and return surplus cash to shareholders.
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