COCKATOO Coal has allotted 9.88 million fully paid ordinary shares to Kores Australia for $A5 mil...
The coal explorer said the shares were subject to a voluntary escrow restriction for a period of 12 months.
Korea’s East-West Power Company has signed similar agreements to receive almost 10 million shares, but the shares have not yet been allotted.
Both Kores Australia and East-West Power were existing shareholders of Cockatoo before deciding to up their stakes.
Kores Australia is a South Korean government-owned subsidiary of Korea Resources Corporation.
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