Rare earths player asks FIRB to probe share buying

News Snapshot:

“As the appointment of Mr Wu as a director would place Yuxiao Fund in a position to exert a direct influence on the central management and control of the company, the board considered whether Mr Wu’s appointment as a director would require, or should be subject to, the approval of the treasurer under the Foreign Acquisitions and Takeovers Act 1975 before the appointment takes effect. “The board concluded that, in the circumstances, it would be appropriate for Yuxiao Fund to apply to FIRB to seek approval for Mr Wu’s appointment. As at the date of this announcement, the company has...