
TAkeover OFFER
5 February 2025
Red Hawk Mining Limited is pleased to provide an update on the off-market takeover offer made by FMG Pilbara Pty Ltd (FMG), a subsidiary of Fortescue Ltd (ASX: FMG) (Fortescue), on 28 January 20251, under which FMG has offered to acquire up to 100% of the fully paid ordinary shares in Red Hawk (Red Hawk Shares) (Offer).
hIGHLIGHTS
- Following the acceptance of Red Hawk’s second largest shareholder OCJ into the Offer, and the earlier acceptance of TIO (NZ) Limited, FMG now has a relevant interest of approximately 78.00% in Red Hawk
- The Increased Offer Condition has now been met, triggering the Increased Offer Price from FMG of $1.20 per Red Hawk Share
- Any shareholder that has already accepted the Offer will automatically receive the Increased Offer Price
- FMG has stated it will waive the only condition to the Offer by no later than 17 February 2025, being 14 days after acquiring a Relevant Interest in at least 50.1% of Red Hawk Shares
- Once the condition is waived and the Offer becomes unconditional, Red Hawk shareholders who have accepted the Offer will be paid within 10 business days of the condition being waived, or within 10 business days of acceptance if the Offer is already free from the condition
- FMG has outlined its intention to delist the Company at the conclusion of the Offer
- Red Hawk considers any alternative Offer is now highly unlikely
Under the terms of the Offer, accepting Red Hawk shareholders will receive a cash amount of $1.20 per Red Hawk Share (Increased Offer Price) as FMG has now obtained a relevant interest in 75% or more of Red Hawk Shares within 7 days of the Offer being open (Increased Offer Condition).
The Increased Offer Price of $1.20 per Red Hawk Share represents a 14% increase to the Base Offer Price of $1.05 per Red Hawk Share and a 46% premium to the last traded price of $0.82 per Red Hawk Share prior to the Offer being made.
Announcements
Statements
Target’s Statement
Supplementary Target’s Statement
Bidder’s Statement
ASX announcement: Fortescue Increased Offer Price of $1.20 per share triggered
SHAREHOLDER INFORMATION LINE:
If you have any queries in relation to the Offer, please do not hesitate to contact the Shareholder Information Line on:
1300 115 865 (within Australia)
+61 3 9415 4639 (outside Australia)
The Shareholder Information Line is available from Monday to Friday between 8.30am and 5.00pm (Australian Eastern Daylight Time).