Energy Resources of Australia Shareholder Appeals Court Approval of Rio Tinto's Compulsory Takeover

MT Newswires Live

07/08

Energy Resources of Australia (ASX:ERA) said shareholder Zentree Investments is appealing the Australian Federal Court's approval of Rio Tinto Group's (ASX:RIO) compulsory acquisition of the remaining shares in the firm, according to a Wednesday filing with the Australian bourse.

The appeal extends the timeframe for the deal's completion to 14 days after the appeal is determined.

Energy Resources of Australia said it will monitor the appeal proceedings and engage with the ASX to determine what implications the appeal has on its suspension from trading and delisting.

Rio Tinto shares fell 2% in recent Wednesday trade.

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