Brief: Firefinch Says It Got A Number Of Non-Binding Indicative Proposals

Firefinch

21/03/2023 10:00

March 21 (Reuters) - Firefinch Ltd  FFX.AX :
    * RECEIVED A NUMBER OF NON-BINDING INDICATIVE PROPOSALS
    * CONSIDERS THAT THESE PROPOSALS ARE SUFFICIENTLY ROBUST TO
WARRANT CONTINUED NEGOTIATION AND DISCUSSION
    * OF VIEW THERE IS REASONABLE POTENTIAL FOR BINDING
AGREEMENT TO
BE REACHED WITH SUCCESSFUL BIDDER
    * NO GUARANTEE THAT A DEFINITIVE TRANSACTION WILL BE AGREED
WITH
RELEVANT BIDDER
    * BOARD WILL UPDATE SHAREHOLDERS IN Q2 CY23 REGARDING
PROGRESS
TOWARDS BINDING TRANSACTION
    * IF NO DEAL MATERIALISES, WILL LOOK TO RETURN MAJORITY OF
CURRENT
CASH TO FFX SHAREHOLDERS
    * IN ADVANCED DISCUSSIONS RELATING TO POTENTIAL DEAL FOR
SALE OF
ITS 80% INTEREST IN MORILA SA FOR NOMINAL CONSIDERATION
    * OVER NEXT QUARTER, BOARD'S OBJECTIVES WILL REMAIN
DELIVERING
LIQUIDITY & VALUE FOR SHAREHOLDERS
    * OVERHEAD COSTS HAVE BEEN DRASTICALLY REDUCED BUT CONTINUED
TO
INCUR COSTS ASSOCIATED WITH DISPOSAL OF MORILA

Source text for Eikon:  ID:nASX37VqVX 
Further company coverage:  FFX.AX 

 ((Reuters.Briefs@thomsonreuters.com;))