Bryah Resources Seeks Takeovers Panel Intervention Amid Board Control Dispute.

Bryah Resources Limited (ASX: BYH) has approached the Takeovers Panel, raising serious concerns about an attempt to seize control of its board. The dispute involves Mr. Yonglu Yu, a client of GBA Capital, who issued notices under sections 203D and 249D to remove existing directors and appoint his nominees. Following these actions, individuals associated with Mr. Yu and GBA Capital reportedly increased their collective shareholding in Bryah to 31.19%, surpassing the 20% threshold permitted without a formal takeover bid under section 606.

Bryah claims this group failed to meet substantial shareholder disclosure requirements and acted with a shared intent to influence board control. The company is seeking interim orders to prevent further share acquisitions and final orders to restrict voting rights and potentially vest shares acquired unlawfully with ASIC for sale. The Panel has yet to decide whether to initiate proceedings or appoint a sitting panel for investigation.

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