MC Mining's takeover offer update

Goldway Capital Investment Limited (Goldway) has provided an update on its off-market takeover offer for all ordinary shares in MC Mining Limited (ASX: $MCM). The offer is set to close at 7.00pm (Sydney time) on Friday, 5 April 2024, unless extended as per the Corporations Act. Goldway's present intention is to declare the offer unconditional upon receiving acceptances for at least 50.1% of the MCM shares that it does not have a relevant interest in by the closing date.

Goldway's Notice of Status of Defeating Conditions

Goldway Capital Investment Limited has issued a notice under section 630(3) of the Corporations Act 2001 (Cth) regarding the status of defeating conditions for its off-market takeover bid for all of the ordinary shares in MC Mining Limited (MCM). As of the notice date, the 50.1% Minimum Acceptance condition has not been fulfilled, and the offer is still subject to this condition. Goldway's voting power in MCM stands at 71.69% as of the notice date. The offer is scheduled to close on 5 April 2024, unless extended in accordance with the Corporations Act or as outlined in Goldway's Third Supplementary Bidder's Statement dated 21 March 2024.

Summary of Goldway's takeover offer update

Goldway Capital Investment Limited's off-market takeover offer for all ordinary shares in MC Mining Limited (ASX: $MCM) is set to close on 5 April 2024, with the present intention to declare the offer unconditional upon meeting the Minimum Acceptance Condition of at least 50.1% of MCM shares. Goldway has issued a notice under section 630(3) of the Corporations Act 2001 (Cth) outlining the status of defeating conditions, indicating that the 50.1% Minimum Acceptance condition has not been fulfilled as of the notice date. Goldway's voting power in MCM stands at 71.69% as of the notice date. The company has also highlighted its intention to extend the offer for 10 Business Days from the Unconditional Date if the Minimum Acceptance Condition is satisfied. The Offer will lapse if the Minimum Acceptance Condition is not met by 5 April 2024. Investors should closely monitor the developments related to Goldway's takeover offer for MCM as the closing date approaches.