New World Receives CAML Takeover Bid Withdrawal Notice

Trading View
2025.07.22 00:17
portai
I'm PortAI, I can summarize articles.

New World Resources has received a notice from Central Asia Metals (CAML) regarding the withdrawal of its takeover bid. This follows New World's recommendation for shareholders to accept Kinterra Capital's revised offer of AU$0.066 per share, which could increase to AU$0.067 if Kinterra's stake exceeds 30% by Thursday. CAML has requested a break fee and plans to sell its shares in New World.

New World Resources received notice that suitor Central Asia Metals (CAML) has withdrawn its bid, following the company's Monday decision to recommend that its shareholders accept Kinterra Capital's revised takeover offer, according to a Tuesday filing with the Australian bourse.

Kinterra Capital, through its Critical Materials & Infrastructure Opportunities Fund, offered AU$0.066 per share, increasing to AU$0.067 if its stake in New World exceeds 30% by Thursday.

CAML has asked the company to pay the break fee and said it intends to dispose the company's shares in which it has an interest, the filing said.

Source: Trading View The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.