REG - ACG Metals Ltd. - Possible Offer for Anglo Asian Mining Plc

ACG MetalsAnnouncement

26/11/2025 17:15

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RNS Number : 1599J  ACG Metals Limited  26 November 2025

26 November 2025

 

 

THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS
AND MERGERS (THE "CODE") AND IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION TO
UNDERTAKE ANY TRANSACTION UNDER RULE 2.7 OF THE CODE. THERE CAN BE NO
CERTAINTY THAT ANY TRANSACTION WILL PROCEED, OR AS TO THE TERMS OF ANY SUCH
TRANSACTION.

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET
ABUSE REGULATION (EU) NO. 596/2014 AS IT FORMS PART OF UNITED KINGDOM DOMESTIC
LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED BY
VIRTUE OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019 ("UK MAR").
UPON THE PUBLICATION OF THIS ANNOUNCEMENT, SUCH INSIDE INFORMATION IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

ACG METALS LIMITED

("ACG" or the "Company")

Possible Offer for Anglo Asian Mining Plc

 

ACG Metals Limited ("ACG" or the "Company") confirms that it is in early
stages of considering making an offer for the entire issued and to be issued
ordinary share capital of Anglo Asian Mining Plc ("Anglo Asian") (the
"Potential Transaction").

This announcement does not amount to a firm intention by ACG to make an offer
under Rule 2.7 of the Code and there can be no certainty that an offer for
Anglo Asian will ultimately be made by ACG. There can be no assurance that a
definitive agreement for the possible acquisition will be entered into or as
to the terms on which any such offer might be made.

In accordance with Rule 2.6(a) of the Code, by not later than 5:00 pm on 24
December 2025, ACG must either announce a firm intention to make an offer for
Anglo Asian in accordance with Rule 2.7 of the Code or announce that it does
not intend to make an offer for Anglo Asian, in which case the announcement
will be treated as a statement to which Rule 2.8 of the Code applies. This
deadline will only be extended with the consent of the Takeover Panel in
accordance with Rule 2.6(c) of the Code.

For the purposes of the Takeover Code this announcement has not been made with
the agreement or approval of Anglo Asian.

A further statement will be made as appropriate.

- ENDS -

The person responsible for the release of this information on behalf of the
Company is Artem Volynets, Chief Executive Officer.

 

 

For further information please contact:

 

Canaccord Genuity Limited

Financial Adviser and Joint Broker

Raj Khatri / James Asensio

RKhatri@cgf.com (mailto:RKhatri@cgf.com) / JAsensio@cgf.com
(mailto:JAsensio@cgf.com)

 

 

Palatine

Communications Adviser

Conal Walsh / James Gilheany / Kelsey Traynor / Richard Seed

 acg@palatine-media.com (mailto:acg@palatine-media.com)

 

About the Company

 

ACG Metals is a company with a vision to consolidate the copper industry
through a series of roll-up acquisitions, with best-in-class ESG and carbon
footprint characteristics.

 

In September 2024, ACG successfully completed the acquisition of the Gediktepe
Mine which is expected to transition to primary copper and zinc production
from 2026 and will target annual steady-state copper equivalent production of
20-25 kt. Gediktepe produced 55koz of AuEq in 2024.

 

ACG's team has extensive M&A experience built through decades spent at
blue-chip multinationals in the sector. The team brings a significant network
as well as a commitment to ESG principles and strong corporate governance.

 

LON: ACG  |  OTCQX: ACGAF  |  LON:ACGW  |  Xetra: ACG  |  Bond ISIN:
NO0013414565

 

For more information about ACG, please visit: www.acgmetals.com
(http://www.acgmetals.com)

 

 

Disclosure requirements of the Takeover Code (the "Code")

 

Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of
any class of relevant securities of an offeree company or of any securities
exchange offeror (being any offeror other than an offeror in respect of which
it has been announced that its offer is, or is likely to be, solely in cash)
must make an Opening Position Disclosure following the commencement of the
offer period and, if later, following the announcement in which any securities
exchange offeror is first identified. An Opening Position Disclosure must
contain details of the person's interests and short positions in, and rights
to subscribe for, any relevant securities of each of (i) the offeree company
and (ii) any securities exchange offeror(s). An Opening Position Disclosure by
a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm
(London time) on the 10th business day following the commencement of the offer
period and, if appropriate, by no later than 3.30 pm (London time) on the 10th
business day following the announcement in which any securities exchange
offeror is first identified. Relevant persons who deal in the relevant
securities of the offeree company or of a securities exchange offeror prior to
the deadline for making an Opening Position Disclosure must instead make a
Dealing Disclosure.

 

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1%
or more of any class of relevant securities of the offeree company or of any
securities exchange offeror must make a Dealing Disclosure if the person deals
in any relevant securities of the offeree company or of any securities
exchange offeror. A Dealing Disclosure must contain details of the dealing
concerned and of the person's interests and short positions in, and rights to
subscribe for, any relevant securities of each of (i) the offeree company and
(ii) any securities exchange offeror(s), save to the extent that these details
have previously been disclosed under Rule 8. A Dealing Disclosure by a person
to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London
time) on the business day following the date of the relevant dealing.

 

If two or more persons act together pursuant to an agreement or understanding,
whether formal or informal, to acquire or control an interest in relevant
securities of an offeree company or a securities exchange offeror, they will
be deemed to be a single person for the purpose of Rule 8.3.

 

Opening Position Disclosures must also be made by the offeree company and by
any offeror and Dealing Disclosures must also be made by the offeree company,
by any offeror and by any persons acting in concert with any of them (see
Rules 8.1, 8.2 and 8.4).

 

Details of the offeree and offeror companies in respect of whose relevant
securities Opening Position Disclosures and Dealing Disclosures must be made
can be found in the Disclosure Table on the Takeover Panel's website at
www.thetakeoverpanel.org.uk, including details of the number of relevant
securities in issue, when the offer period commenced and when any offeror was
first identified. You should contact the Panel's Market Surveillance Unit on
+44 (0)20 7638 0129 if you are in any doubt as to whether you are required to
make an Opening Position Disclosure or a Dealing Disclosure.

 

 

Rule 2.9 Disclosure

 

In accordance with Rule 2.9 of the Code, ACG confirms that, as at the date of
this announcement, its issued and fully paid share capital consists of
22,787,760 class A ordinary shares each having no par value. The International
Securities Identification Number (ISIN) for the ordinary shares is
VGG0056A1030.

 

Publication on websites

A copy of this announcement will be made available subject to certain
restrictions relating to persons resident in restricted jurisdictions on ACG's
website at www.acgmetals.com (http://www.acgmetals.com) by no later than 12
noon (London time) on 27 November 2025. The content of the websites referred
to in this announcement is not incorporated into and does not form part of
this announcement.

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR
FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION. THIS ANNOUNCEMENT DOES NOT
CONSTITUTE A TAKEOVER OFFER OR AN OFFER OF SECURITIES. NO OFFER OR SALE OF
SECURITIES MAY OCCUR IN THE UNITED STATES UNLESS THE TRANSACTION HAS BEEN
REGISTERED UNDER THE US SECURITIES ACT OF 1933 (THE "SECURITIES ACT") OR IS
EXEMPT FROM REGISTRATION THEREUNDER. NO SECURITIES HAVE BEEN OR WILL BE
REGISTERED UNDER THE SECURITIES ACT AND THERE WILL BE NO PUBLIC OFFER OF
SECURITIES IN THE UNITED STATES.

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