West Australian gold explorer Focus Minerals Limited (ASX: FML) has released its Second Supplementary Target’s Statement in relation to the off-market takeover offer by Theta Gold Mines Limited (TGM), for certain of the fully paid ordinary shares of Focus.
The Second Supplementary Target’s Statement relates to and supplements Focus’ Target’s Statement (dated 28 January 2022) and the company’s Supplementary Target’s Statement (9 February 2022) that addressed variations and amendments to TGM’s offer.
The Second Supplementary Target’s Statement addresses TGM’s increased takeover offer consideration and explains the reasons why the Focus continues to unanimously recommend that Focus shareholders REJECT the offer.
The release of the Second Supplementary Target’s Statement follows the announcement by Focus on 15 February 2022 that its largest shareholder, Shandong Gold, had reaffirmed its previously stated intention to REJECT the TGM offer.
