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Forrestania Resources Limited (ASX:FRS)

ALERT: Price-sensitive ASX Announcement for FRS
Current share price for FRS : $0.395 -0.01 (-2.47%)+
Announcement
Release
8 Jul 2026 8:21AM
Price at Release
$0.405
Full Release
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Summary
Zenith Minerals Limited's Supplementary Target's Statement, dated 7 July 2026, addresses the off-market takeover offer by Forrestania Resources Ltd to acquire all fully paid ordinary shares in Zenith. The Zenith Board has reaffirmed its support for the takeover offer, following Forrestania's acquisition of the Edna May Gold Hub and a successful capital raising. The offer includes an exchange of 1 New Forrestania Share for every 4.3 Zenith Shares. Zenith shareholders must accept the offer, scheduled to close on 31 July 2026, to receive new Forrestania shares.
Key Points
  • Zenith Minerals Limited's Supplementary Target's Statement issued on 7 July 2026.
  • Forrestania Resources Ltd has made an off-market takeover offer.
  • The offer proposes an exchange of 1 New Forrestania Share for every 4.3 Zenith Shares.
  • Zenith Board supports the offer after Forrestania's acquisition of the Edna May Gold Hub.
  • The offer includes a successful capital raising of $310 million.
  • Zenith shareholders are advised to accept the offer by 31 July 2026.
  • No Superior Proposal has emerged as of the statement date.
  • Forrestania's acquisition strengthens its balance sheet and strategic position.
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.