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Peak Rare Earths Limited (ASX:PEK)

ALERT: Price-sensitive ASX Announcement for PEK
Current share price for PEK : $0.440 0.01 (2.33%)+
Announcement
Release
18 Sep 2025 5:59PM
Price at Release
$0.430
Full Release
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Summary
Peak Rare Earths Limited announced that the Fair Competition Commission of Tanzania has consented to the acquisition of Peak by Shenghe Resources (Singapore) Pte. Ltd. This consent, together with the approval from the Tanzanian Mining Commission, fulfills the Tanzanian regulatory requirements for the scheme of arrangement under which Shenghe will acquire all shares in Peak that it does not already own. The scheme still requires approval from Australian courts and must meet other conditions such as the independent expert's favorable conclusion and the absence of any government restraint. Shareholders have the opportunity to oppose the scheme at a scheduled court hearing.
Key Points
  • Tanzanian FCC consented to the acquisition of Peak by Shenghe.
  • Tanzanian Mining Commission's approval already obtained.
  • Scheme subject to Australian court approval and other conditions.
  • Shareholders can oppose at the Second Court Hearing.
  • Peak to be acquired by Shenghe under a scheme of arrangement.
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.