Brief: Tietto Minerals Continues To Believe That Zhaojin's Offer Was Opportunistically Timed

Zhaojin Mining Industry Co

30/04/2024 02:38

April 30 (Reuters) - Tietto Minerals Ltd  TIE.AX :
    * CONTINUE TO BELIEVE THAT ZHAOJIN'S OFFER WAS
OPPORTUNISTICALLY
TIMED AND MATERIALLY UNDERVALUES TIETTO.
    * TAKEOVER OFFER UPDATE
    * NOW A REAL RISK THAT ZHAOJIN CAN CONTROL COMPOSITION OF
TIETTO'S
BOARD.
    * AS AT 29 APRIL 2024, ZHAOJIN HELD 42.51% OF TIETTO’S
ISSUED
SHARE CAPITAL
    * NOW UNANIMOUSLY URGE TIETTO  SHAREHOLDERS TO CONSIDER
ACCEPTING
INTO ZHAOJIN’S OFFER
    * CONSIDER RISKS ASSOCIATED WITH CONTINUING TO HOLD TIETTO
SHARES
OUTWEIGH ADVANTAGES OF CONTINUING TO HOLD TIETTO SHARES
    * TIETTO DIRECTORS URGE TIETTO SHAREHOLDERS TO SELL TIETTO
SHARES
ON-MARKET IF MARKET PRICE IS NOT MATERIALLY DIFFERENT TO OFFER
PRICE
    * CONCERNED THAT ZHAOJIN MAY HAVE ALREADY  ACQUIRED
EFFECTIVE
CONTROL OF TIETTO
    * ALL OF TIETTO DIRECTORS THAT OWN OR CONTROL TIETTO SHARES
NOW
INTEND TO EITHER ACCEPT INTO ZHAOJIN OFFER

Further company coverage:  TIE.AX 

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