Overview of OreCorp's response to Perseus offer

OreCorp Limited (ASX: $ORR) has released a Target's Statement in response to the off-market takeover offer from Perseus Mining Limited. The statement contains the directors' unanimous recommendation to reject the Perseus Offer and accept the Silvercorp Offer. Shareholders are advised to carefully consider the detailed information provided before making a decision. The Perseus Offer is open for acceptance until 7.00pm (Sydney time) on 19 March 2024, unless extended, with a consideration of A$0.55 cash per OreCorp Share.

Executive commentary on Perseus Offer and shareholder recommendations

The directors of OreCorp unanimously recommend rejecting the Perseus Offer and accepting the Silvercorp Offer. The detailed information provided in the Target's Statement outlines the concerns about the conditions and uncertainties associated with the Perseus Offer. Shareholders are encouraged to carefully review the full Target's Statement and the Bidder's Statement from Perseus before making a decision.

Overview of OreCorp's position and outlook

OreCorp Limited has issued a comprehensive Target's Statement providing detailed information for shareholders to make an informed decision regarding the Perseus Offer. The directors recommend rejecting the Perseus Offer and accepting the Silvercorp Offer. The statement outlines the implications of accepting or rejecting the offer, potential taxation consequences, and the choices available to shareholders. It also provides insights into OreCorp's operations, financial standing, and potential risks associated with the offer. Shareholders are advised to carefully consider the information provided and the directors' recommendations before making a decision.