Forrestania Says Takeover Panels' Interim Orders Stop Further Acceptances Under Off-Market Takeover Bid for Zenith
MT Newswires Live
Aug 03
Forrestania Resources (ASX:FRS) said the Takeovers Panel made interim orders on Sunday that Forrestania must not process any further acceptances received in relation to the off-market takeover bid for Zenith Minerals (ASX:ZNC) and must not declare the offer free from any defeating condition without the consent of the panel, according to a Monday Australian bourse filing.
Forrestania confirmed that, as of July 31, the acceptances it had received under the bid gave it a voting power of 52.34%.
The interim orders are in effect until the panel makes further orders, the proceedings brought before the panel are determined, or two months from the orders.
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