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Zenith Minerals Limited (ASX:ZNC)

ALERT: Price-sensitive ASX Announcement for ZNC
Current share price for ZNC : $0.070 -0.013 (-15.66%)+
Announcement
Release
18 Aug 2026 2:17PM
Price at Release
$0.083
Full Release
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Summary
Zenith Minerals Limited released a Third Supplementary Target’s Statement concerning an off-market takeover bid from Forrestania Resources Ltd for all Zenith shares. The board of Zenith unanimously recommends accepting the offer in the absence of a superior proposal. The statement, dated August 18, 2026, supplements previous statements and emphasizes the importance of shareholder acceptance by the deadline of August 31, 2026. Forrestania holds a significant interest in Zenith and aims for compulsory acquisition if conditions are satisfied. An independent expert’s report was deemed unnecessary under the Corporations Act, and the statement has been lodged with the Australian Securities and Investments Commission.
Key Points
  • Zenith Minerals Limited issued a Third Supplementary Target’s Statement regarding an off-market takeover bid.
  • The takeover offer is made by Forrestania Resources Ltd for all Zenith shares.
  • Zenith's board unanimously recommends accepting the takeover offer, in the absence of a superior proposal.
  • The statement supplements previous target statements issued on June 9, July 7, and July 24, 2026.
  • Shareholders must accept the offer by 5:00 pm (AWST) on August 31, 2026.
  • Forrestania holds a significant interest in Zenith and may proceed with compulsory acquisition if conditions are met.
  • No independent expert’s report was commissioned as it was not required under the Corporations Act.
  • The Third Supplementary Target's Statement has been lodged with the Australian Securities and Investments Commission.
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.