OreCorp Limited receives conditional offer from Perseus

OreCorp Limited (ASX: $ORR) has received a conditional proposal from Perseus Mining Limited (ASX/TSX: PRU) to increase the offer consideration under its existing off-market takeover bid. Perseus intends to raise the cash offer to A$0.575 per OreCorp Share, subject to OreCorp recommending that its shareholders accept the amended proposal in the absence of a superior offer. OreCorp has also received intention statements from major shareholders representing approximately 15.6% of OreCorp Shares.

Executive Commentary on Perseus's Conditional Offer

Perseus's conditional offer to increase the offer consideration demonstrates their commitment to the acquisition of OreCorp. The amended proposal aims to provide a more attractive offer to OreCorp shareholders, and we are pleased to have received intention statements from major shareholders in support of the amended offer. We believe this proposal aligns with the best interests of OreCorp and its shareholders.

Summary of OreCorp's Conditional Offer from Perseus

OreCorp Limited (ASX: $ORR) has received a conditional offer from Perseus Mining Limited to increase the offer consideration to A$0.575 per OreCorp Share. The amended proposal is subject to OreCorp recommending its shareholders to accept the offer in the absence of a superior proposal. Perseus's commitment to enhancing the offer demonstrates their determination to acquire OreCorp. The intention statements from major shareholders further indicate support for the amended proposal. OreCorp will continue to assess the situation and provide updates as necessary.