Elphinstone Group Increases Stake in Engenco Limited
Elphinstone Group has increased its stake in Engenco Limited (AU:EGN) to 96.77% from 95.57% following an off-market takeover bid by Elph Investments Pty Ltd. This consolidation of control may influence Engenco's strategic direction and stakeholder interests. Engenco's current market cap is A$96.38M, with an average trading volume of 35,578 and a technical sentiment signal of 'Hold'.
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The latest announcement is out from Engenco Limited ( (AU:EGN) ).
Engenco Limited has experienced a change in the interests of its substantial holder, the Elphinstone Group, which now holds 96.77% of the voting power in the company, up from 95.57%. This increase in voting power is a result of the Elphinstone Group’s acquisition of additional shares through an off-market takeover bid by Elph Investments Pty Ltd, indicating a consolidation of control and potentially impacting Engenco’s strategic direction and stakeholder interests.
More about Engenco Limited
Average Trading Volume: 35,578
Technical Sentiment Signal: Hold
Current Market Cap: A$96.38M
Find detailed analytics on EGN stock on TipRanks’ Stock Analysis page.
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