Ansarada Group Ltd. (AU:AND) has released an update.
Ansarada Group Limited is undergoing a major restructure, with a proposed acquisition by Datasite and a sale of certain products to a company owned by CEO Samuel Riley, pending regulatory approval by the ACCC. The ACCC has temporarily halted its review of the deal, awaiting further information, which has led to a suspension of the decision timeline. Ansarada’s Independent Directors have recommended shareholders approve the transactions, emphasizing that they are in the best interests of the company, while CEO Riley, due to personal interest, will abstain from voting.
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