Forrestania Resources Extends Zenith Minerals Takeover Offer

MT Newswires Live

Aug 11

Forrestania Resources (ASX:FRS) has extended its off-market takeover offer for Zenith Minerals (ASX:ZNC) for a fourth time, pushing the offer deadline to Aug. 31 from the previous Aug. 17 closing date, according to an Australian bourse filing on Monday after market hours.

The company said the extension also pushes back the deadline for notifying shareholders about the status of the offer's defeating conditions to Aug. 24, per the filing.

The period for paying consideration has also been reduced from one month to 14 days under an instrument issued by the Australian Securities and Investments Commission (ASIC), meaning the company is not currently required to provide withdrawal rights, the filing said.

The notice was lodged with ASIC on Monday, while Takeovers Panel interim orders continue to prevent the company from declaring the offer free of any defeating conditions, the filing added.

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