Johannesburg-based Omnia Holdings has submitted a letter to the TSX-V asking it to consider denying or re-pricing a proposed change-of-control transaction through which Société Anonyme d’Explosifs et de Produits Chimiques (EPC) intends to take Canadian firm Nordex Explosives private.
According to a statement published Friday by Omnia, the application to the TSX-V was intended to highlight the fact that the Nordex directors were continuing to pursue EPC’s C$0.12-a-share private placement, when the current market price was in fact C$0.27.
