REG - ACG Metals Ltd. - Statement of no offer intention - Anglo Asian

ACG MetalsAnnouncement

Thu 12:00

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RNS Number : 2277L  ACG Metals Limited  11 December 2025

11 December 2025

 

 

THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE CITY CODE ON TAKEOVERS
AND MERGERS (THE "TAKEOVER CODE") AND DOES NOT CONSTITUTE AN ANNOUNCEMENT OF A
FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE AND THERE CAN BE NO
CERTAINTY THAT ANY FIRM OFFER WILL BE MADE, NOR AS TO THE TERMS ON WHICH ANY
OFFER WILL BE MADE

 

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")

Statement of no intention to make an offer for Anglo Asian Mining Plc

 

Further to the announcement issued by ACG under Rule 2.4 of the Takeover Code
on 26 November 2025, ACG confirms that it does not intend to make an offer for
Anglo Asian Mining Plc ("Anglo Asian").

 

This decision has been reached following a thorough review by ACG of Anglo
Asian's asset base. ACG has, from inception, applied a highly disciplined
approach to capital allocation including to potential M&A opportunities.
Together with its focus on protecting the value of ACG's equity, this
discipline is a hallmark of ACG's management ethos.

 

Applying these two core filters ACG does not believe that an acquisition of
Anglo Asian would result in value creation for ACG's stakeholders.

 

This is a statement to which Rule 2.8 of the Takeover Code applies.
Accordingly, ACG (and any person acting in concert with it) will, except with
the consent of the Takeover Panel, be bound by the restrictions under Rule 2.8
of the Takeover Code.

 

Under Note 2 on Rule 2.8, ACG (and any person acting in concert with it)
reserves the right to set the restrictions in Rule 2.8 aside in the following
circumstances:

 

a)   with the agreement of the Board of Anglo Asian;

b)   if a third party announces a firm intention to make an offer for Anglo
Asian;

c)   if Anglo Asian announces a Rule 9 waiver proposal (see Note 1 of the
Notes on Dispensations from Rule 9) or a reverse takeover (as defined in the
Takeover Code);

d)   or if there has been a material change of circumstances (as determined
by the Takeover Panel).

 

- 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)

 

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 12 December 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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