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Far East Gold Ltd (ASX:FEG)

ALERT: Price-sensitive ASX Announcement for FEG
Current share price for FEG : $0.125 -0.02 (-13.79%)+
Announcement
Release
29 Jul 2026 4:43PM
Price at Release
$0.145
Full Release
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Summary
The Fourth Supplementary Target's Statement issued by Far East Gold Ltd (FEG) addresses an unsolicited off-market takeover bid by Xingye Gold (Hong Kong) Mining Company Limited. The Independent Board Committee recommends shareholders to reject the offer, stating that it undervalues FEG and does not provide an appropriate control premium. The Independent Expert has concluded that the offer is neither fair nor reasonable, with both the Offer Price and the Conditional Offer Price falling below the midpoint of the expert's valuation range. Additionally, an alternative opportunity involving the Wonogiri Project is presented, with a Mutual Agreement Letter indicating a purchase price of US$45M. However, there is no certainty that this transaction will proceed. FEG advises shareholders to seek independent financial and legal advice before taking any action regarding the offer.
Key Points
  • Reject the offer from Xingye Gold as it undervalues FEG.
  • The offer is neither fair nor reasonable according to the Independent Expert.
  • The Offer Price is below the Independent Expert's valuation range of A$0.324 - A$0.444 per share.
  • A potential transaction for the Wonogiri Project at US$45M is noted.
  • Shareholders are advised to seek independent financial and legal advice.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.