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Kula Gold Limited ( (AU:KGD) ) has issued an update.
Kula Gold Limited has advised shareholders that Forrestania Resources Limited’s off-market takeover bid has reached 86.87% ownership of the company, and its directors—who have already accepted the offer—are strongly urging remaining shareholders to accept before the bid closes on 22 January 2026. The board warns that if Forrestania’s stake remains below 90% and Kula stays listed, the company’s shares are likely to be thinly traded and Kula will still need significant additional funding for its exploration programs, potentially resulting in substantial dilution for any shareholders who do not participate in future capital raisings, thereby increasing pressure on holdout investors to tender their shares.
More about Kula Gold Limited
Kula Gold Limited is an Australian-listed exploration company focused on mineral exploration projects, with its shares traded on the ASX under the code KGD. The company’s activities require ongoing substantial funding to advance its exploration programs, making access to capital markets and shareholder support critical to its operations and future development.
Average Trading Volume: 5,619,444
Technical Sentiment Signal: Sell
Current Market Cap: A$71.4M
Find detailed analytics on KGD stock on TipRanks’ Stock Analysis page.