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Zenith Minerals Limited (ASX:ZNC)

ALERT: Price-sensitive ASX Announcement for ZNC
Current share price for ZNC : $0.092 0.001 (1.10%)+
Announcement
Release
8 Jul 2026 8:21AM
Price at Release
$0.091
Full Release
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Summary
Zenith Minerals Limited's Board has reaffirmed its support for an off-market takeover offer from Forrestania Resources Limited, recommending shareholders accept the offer in the absence of a superior proposal. The offer includes an exchange of 1 New Forrestania Share for every 4.3 Zenith Shares, with the offer providing a premium to recent trading prices. The strategic rationale is strengthened by Forrestania's acquisition of the Edna May Gold Hub and a $310 million capital raising. Shareholders are required to accept the offer to receive consideration, with capital gains tax rollover relief contingent on Forrestania acquiring at least 80% of Zenith Shares.
Key Points
  • Zenith Minerals Limited Board reaffirms support for Forrestania Resources Limited's takeover offer.
  • The offer exchange ratio is 1 New Forrestania Share for every 4.3 Zenith Shares.
  • Forrestania's acquisition of Edna May Gold Hub and $310 million capital raising enhances strategic rationale.
  • The offer is an off-market takeover bid with no shareholder vote required.
  • Zenith Directors hold a Relevant Interest in approximately 8.2% of Zenith Shares on a fully diluted basis.
  • Zenith Shareholders must accept the offer to receive consideration before the scheduled close.
  • The Takeover Offer provides a premium to recent trading prices of Zenith Shares.
  • Rollover relief for Capital Gains Tax is dependent on Forrestania acquiring at least 80% of Zenith Shares.
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.