Business
Recommended acquisition of SolGold Plc
Jiangxi Copper (Hong Kong) Investment Company Limited has reached an agreement for a recommended cash acquisition of SolGold plc for approximately £867 million, offering 28 pence in cash per SolGold share. This represents a significant premium of approximately 42.9% to SolGold's closing price on November 19, 2025, and a 136.4% premium to its 12-month average share price. The SolGold Directors unanimously recommend this offer, citing the certainty of cash proceeds compared to the inherent risks of standalone development, and major shareholders, including BHP Billiton Holdings Limited and Newcrest International Pty Ltd, have provided irrevocable undertakings to vote in favour, representing approximately 28.5% of SolGold's issued share capital. The acquisition is expected to be completed in the first quarter of 2026. 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 OF SUCH JURISDICTION\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\nFOR IMMEDIATE RELEASE\n \n24 December 2025\nRECOMMENDED CASH ACQUISITION\nof\nSolGold plc (\"SolGold\")\nby\nJiangxi Copper (Hong Kong) Investment Company Limited (\"JCHK\")\nto be implemented by means of a scheme of arrangement\nunder Part 26 of the Companies Act 2006\n \nSummary\n· The boards of directors of SolGold and JCHK, for and on behalf of Jiangxi Copper Company Limited (\"JCC\"), are pleased to announce that they have reached agreement on the terms of a recommended all cash acquisition of the entire issued and to be issued ordinary share capital of SolGold (the \"Acquisition\"). The Acquisition is to be effected by means of a scheme of arrangement under Part 26 of the Companies Act.\n· Under the terms of the Acquisition, SolGold Shareholders shall be entitled to receive:\n28 pence in cash per SolGold Share (the \"Cash Consideration\")\n· The Cash Consideration values the entire issued and to be issued share capital of SolGold at approximately £867 million, and represents:\no 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;\no a premium of c.58.8% 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;\no a premium of c.136.4% to the volume weighted average share price of c.11.8 pence per SolGold share over the twelve months to 27 November 2025; and\no a premium of c.7.1% to the closing price of c.26.2 pence per SolGold share on 27 November 2025, following a 33.4% increase in the SolGold share price since 19 November 2025.\n \nBackground to and reasons for the Acquisition\n· As a consequence of JCHK being the la...