Australia's Focus Minerals up as Theta Gold Mines updates bidding statement

Focus Minerals

05/01/2022 24:57

** Shares of the gold explorer  FML.AX  rise as much as
10.8% to A$0.36, on track for their sharpest single day pct rise
since Dec. 31 
    ** Says recent replacement of Theta Gold Mines Ltd's
 TGM.AX  bidding statement contains marked up changes that
waives defeating conditions related to Focus' recently completed
entitlement offer not proceeding  urn:newsml:reuters.com:*:nASX9R4qxM
    ** TGM refers to its takeover bid to acquire fully paid
ordinary shares in FML, which included a condition that Focus
would not proceed with its 1-for-1 non-renounceable entitlement
offer announced on Dec 3 
    ** TGM confirms it will formally waive the condition that
Focus' entitlement offer not proceed; as a result, the maximum
interest in Focus that TGM could acquire under its offer is
64.24%  urn:newsml:reuters.com:*:nASXRwCRr
    ** FML says its board and advisers are currently reviewing
the changes to assess the extent to which co's previously raised
concerns have been addressed by TGM
    


 (Reporting by Roushni Nair in Bengluru)
 ((Roushni.Nair@thomsonreuters.com;))