Zenith Minerals Takeover Remains Open For Acceptances

Key points

• Takeovers Panel issues orders for Zenith Minerals Limited matters
• Orders do not prevent the takeover offer from proceeding
• Zenith shareholders can continue to accept the offer

Full summary

Forrestania Resources Limited (ASX: FRS) announced that the Takeovers Panel has issued orders regarding Zenith Minerals Limited, allowing the takeover offer to proceed. The orders require certain steps, which Forrestania will comply with. The offer remains open for Zenith shareholders, who have already accepted the offer, representing 49.23% of Zenith shares, giving Forrestania a relevant interest in approximately 58.33% of Zenith shares.

Outlook

Forrestania looks forward to freeing the offer to Zenith shareholders of all remaining conditions at the earliest opportunity.