Forrestania Resources Ordered to Extend Zenith Minerals Bid

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Forrestania Resources (ASX:FRS) has been ordered by the Takeovers Panel to extend its takeover bid for Zenith Minerals so that it does not end before Sept. 14 while the panel continues to consider final orders following its declaration of unacceptable circumstances on Aug. 27, according to a Monday Australian bourse filing.

The panel said the new interim orders replace those dated Aug. 2, and prohibit Forrestania from processing any acceptances received in relation to its off-market takeover bid or declaring offers free from any defeating condition without the panel's consent.

The interim orders have effect until the earliest of a further panel order, determination of the proceedings, or two months from the date of the interim orders, the filing added.

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