https://www.miningweekly.com
Africa|Coal|Mining
Africa|Coal|Mining
africa|coal|mining

MC Mining's JSE share price spikes on receipt of bidder's statement

2nd February 2024

By: Creamer Media Reporter

     

Font size: - +

The JSE share price of South Africa-focused coal miner MC Mining rose by 26% on the afternoon of February 2, following its confirmation that it had received a bidder's statement from entities that, in December, made a nonbinding and indicative offer to acquire MC Mining.

The JSE-, ASX- and Aim-listed coal miner in December announced that it had received a proposed offer from a consortium of its biggest shareholders – Senosi Group Investment Holdings and Dendocept, which already hold 64.3% of MC Mining's shares – to acquire all the shares it does not already own at a cash price of A$0.16 a share.

The independent board committee (IBC) established to consider the offer has reiterated to MC Mining shareholders to take no action in respect of the takeover offer and bidder's statement until it has had an opportunity to fully consider the bidder's statement.

MC Mining says it will respond with a target statement that will include an independent expert report and the IBC's recommendation in relation to the takeover offer.

The company's share price on the JSE rose to R1.89 a share on February 2, from R1.50 a share at close on February 1.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)

Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Resources Watch
Resources Watch
2nd May 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.136 0.177s - 108pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: