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Forrestania Resources Limited ( (AU:FRS) ) has shared an update.
Forrestania Resources Limited has made a conditional script takeover bid for all shares of Kula Gold Limited, offering one Forrestania share for every 5.6 Kula Gold shares, which represents a 41% premium over the recent average trading price. Kula Gold’s directors recommend shareholders accept the bid, as it allows them to benefit from the Mt Palmer Gold Project sooner than if developed independently, and have entered into a Bid Implementation Agreement that restricts Kula Gold from seeking competing offers.
More about Forrestania Resources Limited
Average Trading Volume: 1,415,695
Technical Sentiment Signal: Buy
Current Market Cap: A$116.6M
See more data about FRS stock on TipRanks’ Stock Analysis page.