BUZZ-Australia's Tribeca Global Natural Resources hits 2-month low on restructuring plans

Reuters
15 Nov 2024
BUZZ-Australia's Tribeca Global Natural Resources hits 2-month low on restructuring plans

** Shares of Tribeca Global Natural Resources TGF.AX fall as much as 2.9% to A$1.505, their lowest since Sept. 12

** Investment manager says the board does not intend to restructure the co due to costs and restrictions outweighing the benefits

** Says it recognizes the issue of shares trading below their total asset value, causing shareholder concerns

** Stock set for its biggest weekly fall since June 24, 2022 — if current trend holds

** Stock down 11% YTD, including current session, as of 2300 GMT

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com))

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