Jiangxi Copper's overseas acquisition bids for SolGold rejected

Jiangxi Copper Company has announced its plans to acquire shares in SolGold Plc, an overseas-listed company. On November 23 and November 28, 2025, the company submitted two non-binding cash offers to SolGold Plc's board of directors on the London Stock Exchange. The latest non-binding cash offer proposed a price of £0.26 per share for all of SolGold Plc's outstanding shares. Both non-binding offers have been rejected by SolGold Plc's board.

As of the announcement date, Jiangxi Copper holds 365,757,587 shares in SolGold Plc, representing approximately 12.19% of its total issued shares. According to the UK's City Code on Takeovers and Mergers, Jiangxi Copper must issue a formal offer announcement or a statement confirming it will not pursue the acquisition by 5 PM London time on December 26, 2025. This deadline may be extended with the approval of the UK Takeover Panel.

The company retains the right to submit further offers with alternative consideration forms or combinations. Investors are advised to be aware of the investment risks associated with this early-stage acquisition planning.