{"id":6642,"date":"2024-03-04T00:04:51","date_gmt":"2024-03-04T00:04:51","guid":{"rendered":"https:\/\/economicherald.net\/?p=6642"},"modified":"2024-03-04T00:04:51","modified_gmt":"2024-03-04T00:04:51","slug":"top-10-at-11-genex-power-gets-380-million-takeover-offer-from-japan-utilities-powerhouse","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=6642","title":{"rendered":"Top 10 at 11: Genex Power gets $380 million takeover offer from Japan utilities powerhouse"},"content":{"rendered":"

Stockhead\u2019s\u00a0Top 10 at 11, published each trading day, highlights the best (and worst) performing ASX stocks in morning trade using live data.<\/p>\n

It\u2019s a short, sharp update to help frame the trading day by showing the biggest movers in percentage terms.<\/p>\n

The market opens at 10am (eastern time) and the data is taken at 10:15am, once every ASX stock has started trading. West Australians are enjoying a long weekend today with the Labour Day public holiday, which is \u00a0slowing announcements from companies in WA, particularly on the resources front.<\/p>\n

\u00a0<\/p>\n

WINNERS<\/h2>\n

Stocks highlighted in yellow have made market-moving announcements\u00a0(click\u00a0headings to sort).<\/em><\/strong><\/p>\n

<\/div>\n
\n
<\/div>\n

Code Description Last % Volume MktCap CNJ Conico Ltd 0.003 50% 500,000 $3,140,190 GNX Genex Power Ltd 0.25 35% 5,287,349 $256,257,771 VML Vital Metals Limited 0.004 33% 261,005 $17,685,201 POS Poseidon Nick Ltd 0.0075 25% 20,396,436 $22,281,209 GES Genesis Resources 0.005 25% 152 $3,131,365 NAE New Age Exploration 0.005 25% 600,000 $7,175,596 RDS Redstone Resources 0.005 25% 375,000 $3,701,514 AYT Austin Metals Ltd 0.006 20% 3,500,050 $6,425,957 OAU Ora Gold Limited 0.006 20% 2,000,000 $28,700,004 TIG Tigers Realm Coal 0.006 20% 1,000,000 $65,333,512 <\/p>\n

<\/div>\n<\/div>\n

WordPress Table Plugin<\/a><\/p>\n

Queensland renewable energy company\u00a0Genex Power (ASX:GNX)<\/strong><\/a> announced that it has received an indicative bid proposal from Japan\u2019s Electric Power Development, J-Power, valuing its equity at ~$380m.<\/p>\n

In an announcement<\/a> GNX says its has granted J-Power, one of Japan\u2019s largest utility companies, permission to conduct a thorough examination of its financial records to determine whether the proposed offer of 27.5 cents\/share in cash will be formalised.<\/p>\n

Additionally, J-Power has presented an alternative offer to secure control of the company in case there is insufficient support from GNX\u2019s shareholders for the primary bid.<\/p>\n

The second offer entails a lower amount of 27 cents\/share in cash, contingent on approval from shareholders to hold a minimum of 50.1% of the company\u2019s stock.<\/p>\n

J-POWER is a 50% joint development partner of GNX for its Kidston Stage three Wind and Bulli Creek Solar and Battery projects, and holds 7.72% of its shares on issue. J-POWER also extended a $35 million corporate loan facility to Genex in 2023, which remained fully drawn at 31 December 2023<\/p>\n

\u00a0<\/p>\n

LOSERS<\/h2>\n

Stocks highlighted in yellow have made market-moving announcements\u00a0(cli<\/em><\/strong>ck headings to sort).<\/em><\/strong><\/p>\n

<\/div>\n
\n
<\/div>\n

Code Company Price % Volume Market Cap BP8 BPH Global Ltd 0.001 -50% 750,955 $3,908,232 TD1 Tali Digital Limited 0.001 -33% 2,810,000 $4,942,733 AVE Avecho Biotech Ltd 0.003 -25% 370,000 $12,677,188 EDE Eden Inv Ltd 0.002 -20% 4,145,225 $9,195,678 KPO Kalina Power Limited 0.004 -20% 500,000 $11,050,640 ROG Red Sky Energy. 0.004 -20% 2,599,992 $27,111,136 TMK TMK Energy Limited 0.004 -20% 302,195 $30,612,897 AMD Arrow Minerals 0.005 -17% 5,305,000 $40,102,591 EMT Emetals Limited 0.005 -17% 3,000 $5,100,000 MHC Manhattan Corp Ltd 0.0025 -17% 139,134 $8,810,939 <\/p>\n

<\/div>\n<\/div>\n

WordPress Table Plugin<\/a>
\n<\/span><\/p>\n

The post Top 10 at 11: Genex Power gets $380 million takeover offer from Japan utilities powerhouse<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Stockhead\u2019s\u00a0Top 10 at 11, published each trading day, highlights the best (and worst) performing ASX stocks in morning trade using live data. It\u2019s a short, [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":6643,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6642","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nTop 10 at 11: Genex Power gets $380 million takeover offer from Japan utilities powerhouse - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=6642\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Top 10 at 11: Genex Power gets $380 million takeover offer from Japan utilities powerhouse - Economic Herald\" \/>\n<meta property=\"og:description\" content=\"Stockhead\u2019s\u00a0Top 10 at 11, published each trading day, highlights the best (and worst) performing ASX stocks in morning trade using live data. It\u2019s a short, [more...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/economicherald.net\/?p=6642\" \/>\n<meta property=\"og:site_name\" content=\"Economic Herald\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-04T00:04:51+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=6642#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=6642\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"Top 10 at 11: Genex Power gets $380 million takeover offer from Japan utilities powerhouse\",\"datePublished\":\"2024-03-04T00:04:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=6642\"},\"wordCount\":417,\"publisher\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=6642#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/10-1-51zZWf.jpeg\",\"articleSection\":[\"Finance\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=6642\",\"url\":\"https:\\\/\\\/economicherald.net\\\/?p=6642\",\"name\":\"Top 10 at 11: Genex Power gets $380 million takeover offer from Japan utilities powerhouse - Economic Herald\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=6642#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=6642#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/10-1-51zZWf.jpeg\",\"datePublished\":\"2024-03-04T00:04:51+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=6642#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/economicherald.net\\\/?p=6642\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=6642#primaryimage\",\"url\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/10-1-51zZWf.jpeg\",\"contentUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/10-1-51zZWf.jpeg\",\"width\":2121,\"height\":1193},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=6642#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/economicherald.net\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Top 10 at 11: Genex Power gets $380 million takeover offer from Japan utilities powerhouse\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/#website\",\"url\":\"https:\\\/\\\/economicherald.net\\\/\",\"name\":\"Economic Herald\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/economicherald.net\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\",\"name\":\"Economic Herald\",\"url\":\"https:\\\/\\\/economicherald.net\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/cropped-cropped-economicheraldlogo-1.png\",\"contentUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/cropped-cropped-economicheraldlogo-1.png\",\"width\":850,\"height\":760,\"caption\":\"Economic Herald\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#\\\/schema\\\/logo\\\/image\\\/\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Top 10 at 11: Genex Power gets $380 million takeover offer from Japan utilities powerhouse - Economic Herald","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/economicherald.net\/?p=6642","og_locale":"en_US","og_type":"article","og_title":"Top 10 at 11: Genex Power gets $380 million takeover offer from Japan utilities powerhouse - Economic Herald","og_description":"Stockhead\u2019s\u00a0Top 10 at 11, published each trading day, highlights the best (and worst) performing ASX stocks in morning trade using live data. It\u2019s a short, [more...]","og_url":"https:\/\/economicherald.net\/?p=6642","og_site_name":"Economic Herald","article_published_time":"2024-03-04T00:04:51+00:00","twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/economicherald.net\/?p=6642#article","isPartOf":{"@id":"https:\/\/economicherald.net\/?p=6642"},"author":{"name":"","@id":""},"headline":"Top 10 at 11: Genex Power gets $380 million takeover offer from Japan utilities powerhouse","datePublished":"2024-03-04T00:04:51+00:00","mainEntityOfPage":{"@id":"https:\/\/economicherald.net\/?p=6642"},"wordCount":417,"publisher":{"@id":"https:\/\/economicherald.net\/#organization"},"image":{"@id":"https:\/\/economicherald.net\/?p=6642#primaryimage"},"thumbnailUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2024\/03\/10-1-51zZWf.jpeg","articleSection":["Finance"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/economicherald.net\/?p=6642","url":"https:\/\/economicherald.net\/?p=6642","name":"Top 10 at 11: Genex Power gets $380 million takeover offer from Japan utilities powerhouse - Economic Herald","isPartOf":{"@id":"https:\/\/economicherald.net\/#website"},"primaryImageOfPage":{"@id":"https:\/\/economicherald.net\/?p=6642#primaryimage"},"image":{"@id":"https:\/\/economicherald.net\/?p=6642#primaryimage"},"thumbnailUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2024\/03\/10-1-51zZWf.jpeg","datePublished":"2024-03-04T00:04:51+00:00","breadcrumb":{"@id":"https:\/\/economicherald.net\/?p=6642#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/economicherald.net\/?p=6642"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/economicherald.net\/?p=6642#primaryimage","url":"https:\/\/economicherald.net\/wp-content\/uploads\/2024\/03\/10-1-51zZWf.jpeg","contentUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2024\/03\/10-1-51zZWf.jpeg","width":2121,"height":1193},{"@type":"BreadcrumbList","@id":"https:\/\/economicherald.net\/?p=6642#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/economicherald.net\/"},{"@type":"ListItem","position":2,"name":"Top 10 at 11: Genex Power gets $380 million takeover offer from Japan utilities powerhouse"}]},{"@type":"WebSite","@id":"https:\/\/economicherald.net\/#website","url":"https:\/\/economicherald.net\/","name":"Economic Herald","description":"","publisher":{"@id":"https:\/\/economicherald.net\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/economicherald.net\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/economicherald.net\/#organization","name":"Economic Herald","url":"https:\/\/economicherald.net\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/economicherald.net\/#\/schema\/logo\/image\/","url":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/10\/cropped-cropped-economicheraldlogo-1.png","contentUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/10\/cropped-cropped-economicheraldlogo-1.png","width":850,"height":760,"caption":"Economic Herald"},"image":{"@id":"https:\/\/economicherald.net\/#\/schema\/logo\/image\/"}}]}},"_links":{"self":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/posts\/6642","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6642"}],"version-history":[{"count":0,"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/posts\/6642\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/media\/6643"}],"wp:attachment":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6642"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}