Forrestania Resources Limited (ASX: FRS), an Australian resources company primarily engaged in the exploration and development of mineral assets, has announced that its off-market takeover offer for Zenith Minerals Limited (ASX: ZNC) is now wholly unconditional. Zenith Minerals Limited is likewise involved in the exploration and development of various mineral projects. The significant development, confirmed on 5 November 2026, means all previously stipulated defeating conditions to the offer have been satisfied or freed.
The notice lodged with the ASX detailed that the minimum acceptance condition, outlined in section 12.10(a) of the Bidder’s Statement, was fulfilled as announced on 22 October 2026. Concurrently, all other defeating conditions contained in section 12 of the Bidder’s Statement were also freed by Forrestania, effective from the same date. This decisive status renders the takeover bid firm and without any remaining prerequisites for its completion.
As of the announcement date, Forrestania Resources’ voting power in Zenith Minerals stands at 63.87%. The off-market offer is currently slated to close at 5:00 PM (WST) on 12 November 2026. The confirmation of the offer’s unconditional status provides clarity for Zenith shareholders and signifies a pivotal step towards the finalisation of the acquisition.
