Perseus withdraws Predictive Discovery bid as Robex Resources seals rival deal

Perseus Mining Limited announced its decision to withdraw its definitive binding offer for Predictive Discovery Limited. This follows Predictive's board determining that a revised arrangement agreement from Robex Resources Inc. constitutes a "superior proposal" under the terms of their existing agreement. Consequently, Perseus's initial proposal has been terminated.

Under the revised Robex merger, Predictive shareholders' ownership in the combined entity will increase from 51.0% to 53.5%. Despite this marginal improvement in ownership, Perseus, as Predictive's largest shareholder, maintains that the revised Robex merger remains inferior to its own prior proposal. This sentiment is supported by Predictive's recent trading, which continues to show a discount to the value Perseus's proposal implied.

Perseus does not intend to submit a revised proposal for Predictive at this time, in the absence of a change in the likelihood of the success of the Predictive/Robex merger. However, the company reserves the right to adjust its stance or make a future proposal if circumstances change.