MC Mining's response to Goldway Capital's takeover offer

MC Mining Limited (MCM) has released its Target's Statement in response to the off-market takeover offer from Goldway Capital Investment Limited. The Independent Board Committee unanimously recommends that shareholders DO NOT ACCEPT the offer. The reasons for rejecting the offer include the Offer Price not representing an attractive premium for control, being opportunistically timed, and undervaluing the company's assets and potential.

Executive Commentary on Goldway Capital's takeover offer

The Independent Board Committee (IBC) believes that the projects are significant strategic assets for the Target and that their value has not been adequately reflected in the low premium of the Offer. The IBC also considers that the reasons given by the Bidder are not compelling. The Target's Statement provides reasons for shareholders to consider accepting the Offer, including potential risks associated with not accepting the Offer and the potential for a superior proposal to emerge. The Offer provides certain and immediate value in the form of cash consideration for the entire investment in the Target. Shareholders have the option to reject the Offer, sell their shares on the market, or accept the Offer. The Offer is subject to various conditions, and the Bidder may increase the Offer Price or extend the Offer Period. Additionally, the Bidder may seek to delist the Target from the ASX if certain conditions are met.

MC Mining's Target's Statement and potential delisting from ASX, AIM, and JSE

MC Mining Limited (MCM) has released a Target's Statement providing detailed information about the potential delisting from the ASX, AIM, and JSE, as well as the impact on shareholders. The statement also includes information about the company's directors, senior management, substantial holders, financial position, and future funding requirements. Additionally, it provides insights into the Bidder, Goldway Capital Investment Limited, and the Joint Bid Deed with Consortium Members. This comprehensive Target's Statement provides valuable insights into the potential delisting of MC Mining Limited and the impact on shareholders, as well as detailed information about the company's operations, governance, and the Bidder involved in the potential takeover bid.