Kula Gold Board Recommends Shareholders to Accept Forrestania's Takeover Offer

MT Newswires Live12-04

Kula Gold's (ASX:KGD) board unanimously recommended that its shareholders accept Forrestania Resources' (ASX:FRS) off-market takeover bid for all the shares it does not already own in Kula, on the basis of one Forrestania share for every 5.6 Kula shares, in the absence of a superior proposal, according to a Thursday Australian bourse filing.

Kula's board does not expect an alternative bid given the time period, Forrestania's stake in Kula, as well as Forrestania's gold resources. Forrestania has not declared its offer final.

Upon completion, Kula shareholders will own around 20% of the merged entity, the filing noted. The offer period will start on Dec. 8 and close on Jan. 8, 2026.

The shares of Kula Gold rose over 1%, while those of Forrestania fell nearly 2% in recent trading on Thursday.

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