REG - Shanta Gold Limited - Statement regarding Yintai Gold Co., Ltd

Shanta GoldAnnouncement

02/11/2022 07:17

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RNS Number : 0492F  Shanta Gold Limited  02 November 2022

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE
A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

THIS ANNOUNCEMENT IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE CITY CODE
ON TAKEOVERS AND MERGERS (THE "CODE")

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW
BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"), AND IS
DISCLOSED IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF
MAR

FOR IMMEDIATE RELEASE

 

2 November 2022

Shanta Gold Limited ("Shanta" or the "Company")

 Statement regarding Yintai Gold Co., Ltd ("Yintai")

Shanta has been informed by Yintai that further to the announcement made by
Shanta on 18 October 2022, it does not intend to make an offer for the
Company.

Accordingly, Yintai is, except with the consent of the UK Panel on Takeovers
and Mergers (the "Panel"), bound by the restrictions contained in Rule 2.8 of
the Code.

As is customary under Rule 2.8 of the Code, Yintai reserves the right to make
or participate in an offer for Shanta (and / or take any other actions which
would otherwise be restricted under Rule 2.8 of the Code) within the next six
months following the date of this announcement:

(i)   with the agreement of the board of directors of Shanta;

(ii)  following the announcement of a firm intention to make an offer
for Shanta by or on behalf of a third party;

(iii) following the announcement by Shanta of a Rule 9 waiver proposal (as
described in Note 1 of the Notes on Dispensations from Rule 9 of the Code) or
a reverse takeover (as defined in the Code); or

(iv) where the Takeover Panel has determined that there has been a material
change of circumstances.

In accordance with Rule 26.1 of the Code, a copy of this announcement will be
available (subject to certain restrictions relating to persons resident in
restricted jurisdictions) on Shanta's website at
https://shantagold.com/investors/takeover-offer/
(https://shantagold.com/investors/takeover-offer/) by no later than 12 noon
(London time) on the business day following the date of this
announcement. The content of this website is not incorporated into, and does
not form part of, this announcement.

Yintai has provided its consent with respect to the contents and issue of this
announcement.

For further information, please contact:

 Shanta Gold Limited                                                   +44 (0) 14 8173 2153
 Eric Zurrin (CEO)

 Luke Leslie (CFO)
 Liberum Capital Limited (Joint Financial Adviser, NOMAD and Broker)    +44 (0)20 3100 2000
 Corporate Broking

 Scott Mathieson / Ed Thomas / Nikhil Varghese / Lucas Bamber

 M&A

 Tim Medak / Mark Harrison

 Treadstone Resource Partners (Joint Financial Adviser)                +61 (0) 2 9210 5600
 Ross King / Adam Bill

 FTI Consulting (Media enquiries)                                      + 44 (0) 203 727 1000
 Sara Powell
 Nick Hennis

Liberum Capital Limited (Joint Financial Adviser, NOMAD and Broker)

 +44 (0)20 3100 2000

Corporate Broking

Scott Mathieson / Ed Thomas / Nikhil Varghese / Lucas Bamber

M&A

Tim Medak / Mark Harrison

 

 

 

Treadstone Resource Partners (Joint Financial Adviser)

+61 (0) 2 9210 5600

Ross King / Adam Bill

 

FTI Consulting (Media enquiries)

+ 44 (0) 203 727 1000

Sara Powell

Nick Hennis

 

Important information

 

This announcement is not intended to, and does not, constitute, represent or
form part of any offer, invitation or solicitation of an offer to purchase,
otherwise acquire, subscribe for, sell or otherwise dispose of any securities
or the solicitation of any vote or approval in any jurisdiction whether
pursuant to this announcement or otherwise.

The distribution of this announcement in jurisdictions outside the United
Kingdom may be restricted by law and therefore persons into whose possession
this announcement comes should inform themselves about, and observe, such
restrictions. Any failure to comply with the restrictions may constitute a
violation of the securities law of any such jurisdiction.

 

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