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Central Asia Metals PLC (CAML) announced on 21 July 2025 that its Board decided not to submit a counter proposal to match Kinterra's increased offer of A$0.066 per New World Resources (NWR) share. Consequently, NWR's Board withdrew its previous recommendation of CAML's offer and now recommends NWR shareholders accept the Kinterra Offer before 24 July 2025. NWR and CAML intend to terminate their Bid Implementation Deed, resulting in a break fee payable to CAML.
| Date | 21 Jul 2025 |
| Time | 07:00:09 |
| Category | Corporate updates |
| ID | 8305R |
21 July 2025
Central Asia Metals PLC
(the 'Group', the 'Company' or 'CAML')
Update on New World Resources acquisition
On 17 July, CAML received a matching right notice from New World Resources ('NWR') informing the Company that Kinterra's increased offer of A$0.066 per NWR share contained in its fourth supplementary bidder's statement ('Kinterra Offer') may reasonably lead to a superior proposal under the terms of the Bid Implementation Deed between CAML and NWR ('BID').
After careful consideration, the Board of CAML has decided not to submit a counter proposal to match the Kinterra Offer, and has informed the Board of NWR of this decision. Consequently, as noted in its announcement to the Australian Securities Exchange earlier today, the Board of NWR has withdrawn its previous recommendation of CAML's offer and now unanimously recommends that, in the absence of a superior proposal, NWR shareholders accept the Kinterra Offer before 5:00pm (AEST) on 24 July 2025.
Following the NWR Board's determination that the Kinterra Offer is superior to the CAML offer, NWR and CAML now intend to terminate the BID in accordance with its terms. This will result in a break fee being payable to CAML. CAML will provide further updates as and when appropriate.
This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.
For further information contact:
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Central Asia Metals |
Tel: +44 (0) 20 7898 9001 |
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Gavin Ferrar |
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CEO |
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Louise Wrathall |
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CFO |
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Richard Morgan |
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Investor Relations Manager |
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Peel Hunt (Nominated Adviser and Joint Broker) |
Tel: +44 (0) 20 7418 8900 |
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Ross Allister |
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David McKeown |
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Emily Bhasin |
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BMO Capital Markets (Joint Broker) |
Tel: +44 (0) 20 7236 1010 |
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Thomas Rider |
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Pascal Lussier Duquette |
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BlytheRay (PR Advisers) |
Tel: +44 (0) 20 7138 3204 |
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Tim Blythe |
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Megan Ray |
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Note to editors:
Central Asia Metals, an AIM-quoted UK company based in London, owns 100% of the Kounrad SX-EW copper operation in central Kazakhstan and 100% of the Sasa zinc-lead mine in North Macedonia. The Company also owns an 80% interest in CAML Exploration, a subsidiary formed to progress early-stage exploration opportunities in Kazakhstan, and a 28.4% interest in Aberdeen Minerals Ltd, a privately-owned UK company focused on the exploration and development of base metals opportunities in northeast Scotland.
For further information, please visit www.centralasiametals.com and follow CAML on X at @CamlMetals and on LinkedIn at Central Asia Metals Plc
