Update on intended takeover offer and appointment of external advisors

Helix Resources Ltd (ASX:HLX) has provided an update regarding the intended all cash proportional off-market takeover offer as announced by Acta Investment Group Pty Ltd (Acta) on 30 August 2024. The intended offer is to acquire 25% of the shareholding of all ordinary shareholders of Helix other than the shares that Acta and its associates do not currently hold or control for $0.005 per share, less any dividends or distributions declared, determined or paid after 30 August 2024. The Company has appointed external advisors including Hamilton Locke as Legal Advisors, New Holland Capital as Corporate Advisors, and Chapter One Advisors as Investor Relations / Public Relations Advisors to assist in progressing its dialogue with Acta.

Helix Directors advise shareholders to take no action

The Helix Board is focused on securing the best possible outcome for Helix shareholders and has appointed external advisors to assist in progressing its dialogue with Acta. The Directors continue to advise shareholders to TAKE NO ACTION regarding Acta's intended Proportional Offer. The Company is currently engaging with representatives of Acta in relation to the Proportional Offer and notes the unsolicited and highly conditional nature of the offer. The conditions are onerous and include a restriction on Helix or its subsidiaries committing to any expenditure of more than $50,000. It is likely that one or more conditions will be breached through no fault of Helix simply by conducting business in the ordinary course. These and other matters are the subject of discussions with Acta.

Summary of Helix Resources' intended takeover offer update

Helix Resources Ltd (ASX:HLX) has provided an update regarding the intended all cash proportional off-market takeover offer as announced by Acta Investment Group Pty Ltd (Acta) on 30 August 2024. The Company is currently engaging with representatives of Acta in relation to the Proportional Offer and has appointed external advisors including Hamilton Locke as Legal Advisors, New Holland Capital as Corporate Advisors, and Chapter One Advisors as Investor Relations / Public Relations Advisors to assist in progressing its dialogue with Acta. The Directors continue to advise shareholders to TAKE NO ACTION regarding Acta's intended Proportional Offer. Helix will continue to keep shareholders informed of further developments as they occur.