REG - Oryx Global Partners Michael Carvill Kenmare Resources - No intention to make an offer - Kenmare Resources

Kenmare ResourcesAnnouncement

19/06/2025 09:46

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RNS Number : 5724N  Oryx Global Partners Limited  19 June 2025

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 OF SUCH JURISDICTION.

THIS IS AN ANNOUNCEMENT UNDER RULE 2.8 OF THE IRISH TAKEOVER PANEL ACT, 1997,
TAKEOVER RULES 2022 (THE "IRISH TAKEOVER RULES")

FOR IMMEDIATE RELEASE

 

No intention to make an offer statement for Kenmare Resources plc.

 

19 June 2025

 

Oryx Global Partners Limited and Michael Carvill (together, the "Consortium")
confirmed today that it does not intend to make an offer for Kenmare Resources
plc. Accordingly, the Consortium will be bound by the restrictions set out in
Rule 2.8 of the Irish Takeover Rules. The Consortium reserves the right within
the next 6 months to set aside this announcement where so permitted under Rule
2.8 (including 2.8(c)(ii)).

 

Following a comprehensive due diligence process and after accounting for its
findings, the Consortium was unable to reach alignment with Kenmare on its
updated valuation and as a result the Consortium has ceased engagement.

 

Oryx Global Partners remains committed to its strategy of investing in
high-quality assets that support the global energy transition and secure
critical mineral supply chains and will continue with its measured and
disciplined approach to investment selection.

 

The Consortium wishes Kenmare and its stakeholders every success in delivering
the Wet Concentrator Plant A upgrade project and extension of the
Implementation Agreement.

 

 

For more information, contact:

 

Camarco:

Gordon Poole

Georgina Whittle

Amrith Uppuluri

oryx@camarco.co.uk (mailto:oryx@camarco.co.uk)

 

Hannam & Partners - Financial Advisor to the Consortium

Andrew Chubb

Vladimir Volodko

sand@hannam.partners (mailto:sand@hannam.partners)

Tel: +44 (0) 207 907 8500

 

IBI Corporate Finance Limited - Financial Advisor to the Consortium

Tom Godfrey (Tom.godfrey@ibicorporatefinance.ie
(mailto:Tom.godfrey@ibicorporatefinance.ie) )

Tel: +353 1 963 1200

 

 

About Oryx Global Partners Limited

 

Oryx Global Partners is a specialist investment firm dedicated to facilitating
the energy transition and securing supply chains through strategic investments
in the minerals value chain.

 

The Oryx team, composed of financial, technical, and operational experts with
extensive resources and investment management experience, utilises a proven
investment process to identify high-quality investments and deliver
significant operational value-add.

 

Oryx is committed to delivering attractive returns to its investors and a net
positive impact through its operations. Their responsible and sustainable
approach enables Oryx to create lasting value through industry that benefits
both its investors and broader stakeholders.

 

 

RESPONSIBILITY STATEMENT

 

Michael Carvill and the directors of Oryx Global Partners Limited accept
responsibility for the information contained in this announcement. To the best
of their knowledge and belief (having taken all reasonable care to ensure that
such is the case), the information contained in this announcement is in
accordance with the facts and does not omit anything likely to affect the
import of such information.

 

IMPORTANT NOTICE RELATING TO FINANCIAL ADVISORS

 

H&P Advisory Ltd ("Hannam & Partners"), which is regulated by the
Financial Conduct Authority ("FCA") in the United Kingdom, is acting
exclusively for the Consortium and for no one else in connection with the
Possible Offer and will not be responsible to anyone other than the Consortium
for providing the protections afforded to its clients or for providing advice
in connection with the Possible Offer. Neither Hannam & Partners, nor any
of its affiliates, owes or accepts any duty, liability or responsibility
whatsoever (whether direct or indirect, whether in contract, in tort, under
statute or otherwise) to any person who is not a client of Hannam &
Partners in connection with the Possible Offer, this announcement, any
statement contained herein or otherwise.

 

IBI Corporate Finance Limited ("IBI Corporate Finance"), is acting exclusively
as financial adviser to the Consortium and no one else in connection with the
Possible Offer and will not be responsible to anyone other than the Consortium
for providing the protections afforded to clients of IBI Corporate Finance nor
for providing advice in relation to the Potential Offer or any other matters
referred to in this Announcement. Neither IBI Corporate Finance nor any of its
affiliates owes or accepts any duty, liability or responsibility whatsoever
(whether direct or indirect, whether in contract, in tort, under statute or
otherwise) to any person who is not a client of IBI Corporate Finance in
connection with this Announcement, any statement contained herein or
otherwise.

 

FURTHER INFORMATION

 

This announcement does not constitute an offer to sell or invitation to
purchase any securities. The release, publication or distribution of this
announcement in certain jurisdictions may be restricted by law and therefore
persons in such jurisdictions into which this announcement is released,
published or distributed should inform themselves about and observe such
restrictions.

 

PUBLICATION ON WEBSITE

 

In accordance with Rule 26.1 of the Takeover Rules, a copy of this
announcement will be available at http://offers.ibicorporatefinance.ie
promptly and in any event by no later than 12:00 p.m. (Dublin time) on the
business day following this announcement. The content of this website is not
incorporated into and does not form part of this announcement.

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