Lapse of Fenix Takeover Offer

Key points

• Fenix Resources' off-market takeover bid for CZR Resources has lapsed
• Bid conditions, including 75% minimum acceptance, were not met by the closing date
• CZR shareholders who accepted the offer will have their acceptances automatically voided

Full summary

CZR Resources Ltd (ASX: CZR) has announced that the off-market takeover bid made by Fenix Resources Limited for all of the fully paid ordinary shares in CZR has lapsed. The Fenix Offer was subject to various defeating conditions, including a minimum acceptance of 75% (in aggregate) of all CZR Shares on issue. As these conditions were not satisfied by the closing date of 29 April 2025, the Fenix Offer has now lapsed. All acceptances under the Fenix Offer will be automatically voided, and CZR shareholders who accepted the offer will retain ownership of their CZR Shares and may deal with them as they see fit.