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Kula Gold Limited (ASX:KGD)

ALERT: Price-sensitive ASX Announcement for KGD
Current share price for KGD : $0.080 0.038 (90.48%)+
Announcement
Release
24 Nov 2025 7:18PM
Price at Release
$0.042
Full Release
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Summary
Forrestania Resources Limited has issued a Bidder's Statement announcing an off-market takeover offer for Kula Gold Limited. The offer involves Forrestania acquiring all remaining Kula Shares not owned by Forrestania or its associates, offering 1 new Forrestania Share for every 5.6 Kula Shares. The offer was made under the Corporations Act and is contingent on no superior proposal being available. It closes on 8 January 2026, unless extended or withdrawn. The statement includes pro forma financial scenarios and the financial position of both companies prior to the statement's issuance. Kula's directors recommend shareholders accept the offer.
Key Points
  • Forrestania Resources Limited issued a Bidder's Statement for an off-market takeover of Kula Gold Limited.
  • The offer is for Forrestania to acquire all Kula Shares that are not currently owned by Forrestania and its associates.
  • Kula shareholders will receive 1 new Forrestania Share for every 5.6 Kula Shares they own.
  • The offer was made under Part 6.5 of the Corporations Act and includes disclosures as required by the Act.
  • The offer is subject to Kula shareholders accepting it, provided no superior proposal is available.
  • The offer closes at 4:00pm (AWST) on 8 January 2026, unless extended or withdrawn.
  • The pro forma financial information considers scenarios of Forrestania acquiring either 100% or 50.1% of Kula.
  • The financial statements of both companies prior to the Bidder’s Statement date were audited, but the pro forma statements are illustrative and unaudited.
  • The directors of Kula recommend shareholders accept the offer, subject to no better offer arising.
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.