MC Mining Limited (ASX: $MCM) has issued a preliminary recommendation advising shareholders not to accept the off-market takeover bid by Goldway Capital Investment Limited (Goldway) for a cash price of A$0.16 per share. The Independent Board Committee (IBC) of MC Mining has deemed the offer as opportunistic and lacking an appropriate premium for control, and has highlighted that the offer does not appear to attribute adequate value to MC Mining's assets and projects.
The preliminary recommendation of MC Mining's Independent Board Committee (IBC) is that shareholders should not accept the Takeover Offer from Goldway. The IBC believes that the offer is opportunistic, does not provide an appropriate premium for control, and does not seem to attribute adequate value to MC Mining's assets and projects. The Takeover Offer is subject to a minimum acceptance condition, and the IBC looks forward to providing a detailed response in MC Mining's Target Statement.
MC Mining Limited (ASX: $MCM) has advised shareholders not to accept the off-market takeover bid from Goldway Capital Investment Limited, offering A$0.16 cash per share. The company's Independent Board Committee (IBC) has deemed the offer as opportunistic and lacking an appropriate premium for control, and has highlighted that the offer does not appear to attribute adequate value to MC Mining's assets and projects. Shareholders are urged to await MC Mining's Target Statement for a comprehensive response to the Takeover Offer.