Earlier this month, Alto received an all-scrip off-market takeover offer.
() chairman Terrence Wheeler has acquired 6.38 million shares valued at $300,000.
The acquisition increases Wheeler’s holding in the company to 40.7 million shares.
This recent share acquisition is a result of the conversion of a convertible loan.
Earlier this month, Alto received an all-scrip off-market takeover offer for all issued ordinary Alto shares from gold exploration company Ltd ().
The offer for five Middle Island shares for every one Alto share is based on Middle Island’s closing price of 0.9 cents on February 28, 2019, valuing Alto at about $9.4 million.
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