(Alliance News) - MOD Resources Ltd on Wednesday said two shareholders have significantly increased their stakes in the firm, amid a takeover bid for the firm by one of them.
London-listed resources investor Metal Tiger PLC has upped its stake to just shy of 20% from just over 10%, as has Sandfire Resources NL, which is listed in Sydney.
Sandfire and MOD in June agreed a GBP91.1 million takeover of MOD, which has assets on the Kalahari copper belt in Botswana.
MOD's shares were untraded on Wednesday in London, last quoted at 22.50 pence each.