InvestSMART

Kingsland Minerals Ltd (ASX:KNG)

ALERT: Price-sensitive ASX Announcement for KNG
Current share price for KNG : $0.040 -0.027 (-40.30%)+
Announcement
Release
19 Jun 2026 9:51AM
Price at Release
$0.067
Full Release
download
Summary
The Takeovers Panel decided not to conduct proceedings regarding an application from Quinbrook Asset Management Pty Ltd concerning Kingsland Minerals Ltd. The issue involved an alleged association between certain shareholders and officers of Kingsland related to a proposed acquisition of exploration licenses from Bacchus Resources Pty Ltd. The Panel found no substantial effect on Kingsland's control as the transaction was only at the non-binding term sheet stage and required shareholder approval under ASX rules. Bacchus did provide an updated substantial holder notice, addressing some concerns about delayed disclosure. The Panel concluded there was no reasonable likelihood of declaring unacceptable circumstances, thus declining the proceedings.
Key Points
  • Panel declined to conduct proceedings on an application concerning Kingsland Minerals.
  • Application related to a proposed acquisition and alleged association with Bacchus Resources.
  • The transaction had progressed only to a non-binding term sheet stage.
  • Shareholder approval would be required for the transaction to proceed.
  • Bacchus updated its substantial holder notice, informing the market adequately.
  • No reasonable prospect of declaring unacceptable circumstances led to the decision.
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.