Golden Investments says it holds 25.5 percent of the Stanmore Coal
(ASX:SMR) , despite the failure of a $240 million takeover bid.
Following the closure of its bid on Tuesday Golden Investments says that it will seek a board position at the coal company as its biggest shareholder.
Golden declared its offer for Stanmore to be "best and final". As a result, from the time the offered expired on Tuesday, Golden is prevented from acquiring any more shares for six months.
Stanmore had previously labelled the $0.95 cents per share offer as clearly inadequate against a range of comparisons.
Shares in Stanmore Coal
(ASX:SMR) closed 0.53 per cent higher at 96 cents yesterday
