Business
Extension of PUSU deadline
Extension of PUSU deadline.
About this update from Kenmare Resources Plc
[{"type":"text","content":"\n\n \n \n\n Extension of PUSU deadline\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION. THIS IS AN ANNOUNCEMENT UNDER RULE 2.4 OF THE IRISH TAKEOVER PANEL ACT, 1997, TAKEOVER RULES, 2022 (THE \"IRISH TAKEOVER RULES\" OR THE “RULES”) AND IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE IRISH TAKEOVER RULES. THERE CAN BE NO CERTAINTY THAT ANY FIRM OFFER WILL BE MADE, NOR AS TO THE TERMS ON WHICH ANY SUCH OFFER WILL BE MADE. THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION. 15 May 2025 Kenmare Resources plc Extension of PUSU deadline On 6 March 2025, the Board of Kenmare Resources plc (\"Kenmare\" or the \"Company\") (the \"Board\") announced that it had received a non-binding proposal from Oryx Global Partners Limited and Michael Carvill (together, the \"Consortium\") regarding a possible all-cash offer for the entire issued and to be issued share capital of Kenmare (the \"Possible Cash Offer\"). Following an extension announcement by Kenmare on 17 April 2025, the Consortium was required, by no later than 5:00 p.m. on 15 May 2025, to either announce a firm intention to make an offer for Kenmare in accordance with Rule 2.7 of the Irish Takeover Rules or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Irish Takeover Rules applies. In order to facilitate ongoing discussions with the Consortium and to provide additional time for the Consortium to progress its due diligence, the Board has requested, and the Takeover Panel has consented to, an extension to the date by which the Consortium is required to either announce a firm intention to make an offer for the Company or announce that it does not intend to make an offer. Consequently, in accordance with Rule 2.6(c) of the Irish Takeover Rules, the Consortium is now required by no later than 5.00 pm on 20 June 2025, to either announce a firm intention to make an offer for Kenmare in accordance with Rule 2.7 of the Irish Takeover Rules or announce that it does not intend to make an offer for Kenmare, in which case the announcement would be treated as a statement to which Rule 2.8 of the Irish Takeover Rules applies. T...