REG - Anglo Asian Mining ACG Metals Ltd. - Response to ACG Metals Limited no intention to bid

Anglo Asian MiningAnnouncement

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RNS Number : 2619L  Anglo Asian Mining PLC  11 December 2025

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FOR IMMEDIATE RELEASE

11 December 2025

Response to ACG Metals Limited no intention to bid statement

Anglo Asian Mining PLC ("Anglo Asian" or the "Company"), the AIM-listed gold,
copper and silver producer focused in Azerbaijan, is pleased to announce and
notes the announcement made by ACG Metals Limited ("ACG") earlier today that
it does not intend to make an offer for Anglo Asian. As a result of the
announcement, ACG is bound by the restrictions contained in Rule 2.8 of the
City Code on Takeovers and Mergers.

Anglo Asian remains committed to creating value for its shareholders through
continued production and development of its assets. This includes the two new
mines it has brought online over the past 12 months, in addition to its
historically profitable assets.

Over the past year, as we have followed through on our strategic plans and
continue to move towards developing Xarxar, Garadagh and grow into a mid-tier
copper producer, the markets have started to recognize the ability of our
management team and board to continuously develop new opportunities from our
extensive license portfolio. The board and management  team look forward with
confidence to our strategy, which has been successful for our shareholders. We
are confident that Anglo Asian will drive substantial value with our clear and
achievable strategic plans to organically grow the business.

 

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed
inside information for the purposes of Article 7 of Regulation (EU) No
596/2014, which was incorporated into UK law by the European
Union (Withdrawal) Act 2018, until the release of this announcement.

For further information please contact:

 Anglo Asian Mining plc
 Reza Vaziri, Chief Executive Officer                            Tel: +994 12 596 3350
 Bill Morgan, Chief Financial Officer                            Tel: +994 502 910 400
 Stephen Westhead, Vice President                                Tel: +994 502 916 894
 Amir Vaziri, Chief Business Development Officer                 Tel: +1 (301) 332 9938

 SP Angel Corporate Finance LLP (Nominated Adviser and Broker)   Tel: +44 (0) 20 3470 0470

 Ewan Leggat

 Adam Cowl

 Hudson Sandler (Financial PR)                                   Tel: +44 (0) 20 7796 4133

 Charlie Jack

 Harry Griffiths

 

About Anglo Asian Mining

Anglo Asian Mining plc (AIM:AAZ) is a copper and gold producer with a
high-quality portfolio of production and exploration assets in Azerbaijan. The
Company produced 378 tonnes of copper and 15,071 ounces of gold for the year
ended 31 December 2024. In the nine months to 30 September 2025, the Company
produced 3,475 tonnes of copper and 18,912 ounces of gold.

 

The Company's strategic plan for growth shows a clearly defined path for the
Company to transition to a multi-asset, mid-tier, copper and gold producer by
2030, by which time copper will be the principal product of the Company, with
forecast annual production of around 50,000 to 55,000 tonnes of copper. It
plans to achieve this growth by bringing into production three new mines
during the period 2027 to 2030 at Xarxar, Garadag and Zafar, in addition to
the newly opened Gilar and Demirli mines. Production commenced at the Gilar
mine in May 2025 and Demirli in July 2025. https://www.angloasianmining.com/
(https://www.angloasianmining.com/)

 

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