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Kula Gold Limited ( (AU:KGD) ) just unveiled an announcement.
Forrestania Resources Limited has secured a relevant interest in more than 90% of Kula Gold Limited’s fully paid ordinary shares and at least 75% of the shares it sought under its off‑market takeover bid, clearing the key thresholds required to trigger compulsory acquisition of the remaining minority stake. The offer is scheduled to close on 22 January 2026, after which Forrestania will proceed under the Corporations Act to compulsorily acquire the remaining Kula shares on the same terms as its existing offer, with completion expected in February 2026; upon completion, consideration for compulsorily acquired shares will be remitted to Kula for distribution to remaining shareholders, effectively finalising Forrestania’s full takeover and leading to the consolidation of Kula’s ownership under a single majority holder.
More about Kula Gold Limited
Kula Gold Limited is an Australian-listed company whose fully paid ordinary shares have been the target of an off‑market takeover bid by Forrestania Resources Limited, an ASX‑listed resources company. Kula’s shareholder base is now concentrated, with Forrestania having secured a controlling interest exceeding 90% of its issued shares through this offer process.
Average Trading Volume: 4,611,010
Technical Sentiment Signal: Sell
Current Market Cap: A$97.88M
Learn more about KGD stock on TipRanks’ Stock Analysis page.