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40,665.02
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105.05
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105.05
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82.40
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Gold
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41.42
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105.05
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41.42
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105.05
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Advance ZincTek (ASX: $ANO) receives off-market takeover bid from Ankla Pty Ltd

Overview of off-market takeover bid by Ankla Pty Ltd for Advance ZincTek Limited (ASX: $ANO)


Ankla Pty Ltd (ACN 074 315 432) has issued a Bidder's Statement to acquire up to 70% of ordinary shares in Advance ZincTek Limited (ANO) (ACN 079 845 855) at a rate of $1.05 per share. The offer is devoid of any minimum acceptance stipulation and is open to all shareholders. The offer is set to close at 7:00 pm (Sydney time) on 18 January 2024.

Executive Commentary on Off-Market Takeover Bid


On behalf of Ankla Pty Ltd, I am honored to extend an exclusive cash offer for the acquisition of your ANO shareholdings at a rate of $1.05 per share. This offer is devoid of any minimum acceptance stipulation and is open to all shareholders. As of the date of this communique, both I and ANO remain uninformed of any competing bids. Moreover, there is no definitive assurance regarding the emergence of a superior proposal prior to the Offer's culmination. Shareholders desiring to accept this proposal can utilize the Acceptance Form available online at the provided link.

Summary of Off-Market Takeover Bid and Outlook


Ankla Pty Ltd has made an all-cash offer to acquire up to 70% of ANO shares at a rate of $1.05 per share. The offer is devoid of any minimum acceptance stipulation and is open to all shareholders. The offer is set to close at 7:00 pm (Sydney time) on 18 January 2024. Shareholders are advised to consult the Target's Statement for comprehensive insights into ANO. The tax ramifications arising from the endorsement of this Offer hinge on several determinants and will differ based on individual circumstances. Shareholders are encouraged to meticulously examine and contemplate the potential Australian tax outcomes resultant from the Offer's acceptance.

Sourcehttps://announcements.asx.com.au/asxpdf/20231211/pdf/05yfgjnmsq1zb4.pdf

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