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Vmoto Limited Review Panel Declines Proceedings, Refers Shareholder Concerns to ASIC

Story Highlights
  • Vmoto’s review Panel declined to proceed with a review application concerning minority oppression and disclosure issues.
  • Concerns about missing substantial holder notices from major shareholders have been referred to ASIC.
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Vmoto Limited Review Panel Declines Proceedings, Refers Shareholder Concerns to ASIC

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Vmoto Limited ( (AU:VMT) ) has issued an update.

Vmoto Limited’s review Panel has opted not to proceed with an application from the Munro Family Super Fund, which sought a review of a previous decision involving minority oppression and disclosure issues related to Vmoto’s share buy-back. The Panel determined that these issues are better suited for court or ASIC intervention and found no grounds to declare unacceptable circumstances. However, concerns about the lack of substantial holder notices from two major shareholders have been highlighted and referred to ASIC for further investigation.

More about Vmoto Limited

Technical Sentiment Consensus Rating: Strong Buy

Current Market Cap: €25.13M

Find detailed analytics on VMT stock on TipRanks’ Stock Analysis page.

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