Response to Zenith Minerals Investor Statements
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| Stock | Forrestania Resources Ltd (FRS.ASX) |
|---|---|
| Release Time | 23 Jul 2026, 9:46 a.m. |
| Price Sensitive | Yes |
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Forrestania Resources Responds to Zenith Minerals Investor Statements
Key Points
- No superior offer has materialized since Forrestania's bid
- Forrestania's offer is supported by Zenith Directors
- Ida Metal Investments increased its stake but did not propose an alternative solution
Full Summary
Forrestania Resources Ltd (FRS:ASX) addresses Ida Metal Investments' recent statements regarding its off-market takeover offer for 100% of Zenith Minerals Limited (Zenith). Forrestania highlights that no superior offer has emerged since its bid announcement on 9 June 2026, and that Zenith's share price appears to be supported by the offer. The company also notes that Zenith Directors have confirmed their recommendation for shareholders to accept Forrestania's offer, despite Ida's increased shareholding. Forrestania emphasizes that Ida has not proposed an alternative solution to Zenith's development challenges, and that Zenith Directors still hold significant shares that could increase Forrestania's acceptances to close to 50.1%.
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