Business
Joint Statement re Revised Possible Offer
Jiangxi Copper (Hong Kong) Investment Company Limited has made a revised non-binding indicative cash offer of 28 pence per SolGold share, valuing the company at approximately £842 million. This represents a significant premium to SolGold's recent share prices, including a 42.9% premium to the closing price on November 19, 2025. The SolGold board has indicated it would be minded to recommend the offer if a firm intention is announced on the same terms. Major shareholders, including BHP Billiton Holdings Limited, Newmont Corporation, Maxit Capital LP, and Nicholas Mather, have provided letters of intent supporting the revised offer, collectively representing 40.7% of SolGold's issued share capital. The offer is subject to customary conditions, including PRC outbound direct investment clearance, and would be financed by JCC's cash resources and a committed bank facility. Disclaimer*
About this update from SolGold PLC
[{"type":"text","content":"\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\nTHIS IS AN ANNOUNCEMENT OF A POSSIBLE OFFER UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE \"CODE\"). THIS ANNOUNCEMENT IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE AND THERE CAN BE NO CERTAINTY THAT AN OFFER WILL BE MADE\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\nFOR IMMEDIATE RELEASE\n12th December 2025\nJoint Statement Regarding a Revised Possible Offer for SolGold Plc (\"SolGold\") by Jiangxi Copper (Hong Kong) Investment Company Limited\nThe boards of directors of SolGold plc (\"SolGold\") and Jiangxi Copper (Hong Kong) Investment Company Limited, for and on behalf of Jiangxi Copper Company Limited (\"JCC\") are pleased to announce that JCC has made a revised non-binding indicative cash offer for the entire issued and to be issued share capital of SolGold, other than the shares already owned by JCC (the \"Revised Possible Offer\") at a price of:\n28 pence in cash per SolGold share (the \"Revised Possible Offer Price\")\nThe board of directors of SolGold has indicated to JCC that it would be minded to recommend that SolGold shareholders vote in favour of the Revised Possible Offer, should a firm intention to make an offer on the same terms as the Revised Possible Offer be announced in accordance with Rule 2.7 of the Code.\nThe Revised Possible Offer Price values the entire issued and to be issued ordinary share capital of SolGold at approximately £842 million and represents:\n· a premium of c.42.9% to the closing price of 19.6 pence per SolGold share on 19 November 2025, being the last business day prior to JCC's first approach to the SolGold board;\n \n· a premium of c.58.5% to the volume weighted average share price of c.17.6 pence per SolGold share over the three months to 27 November 2025, being the last business day prior to the announcement by SolGold of JCC's initial proposal;\n \n· a premium of c.136% to the volume weighted average share price of c.11.8 pence per SolGold share over the twelve months to 27 November 2025; and\n \n·  ...