Zenith Minerals Says Forrestania Board to Extend Offer Period for Off-Market Takeover Bid to Aug. 17, Shares Fall 7%
MT Newswires Live
Jul 31
Zenith Minerals (ASX:ZNC) said it was informed that the board of Forrestania Resources (ASX:FRS) decided to extend the offer period for an off-market takeover bid for all of the fully paid ordinary shares in Zenith to Aug. 17, according to a Friday Australian bourse filing.
The previous closing date for the offer was Aug. 7.
Forrestania is now required to give notice of the status of the remaining defeating conditions on Aug. 10, and as of Friday, so far as Forrestania is aware, none of the defeating conditions had been fulfilled.
Zenith's shares fell 7% in recent trading on Friday, while those of Forrestania rose 5%.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.