Zenith Minerals Limited 01 & 02 – Orders

The Panel has made final orders (Annexure A) in relation to an application from Harvest Lane Asset Management Pty Ltd (Harvest Lane) dated 23 July 2026 and an application from Ida Metal Investments Pty Ltd (Ida Metal) received on 28 July 2026, both in relation to the affairs of Zenith Minerals Limited (Zenith) (see TP26/047 and TP26/049). Zenith is currently the subject of a recommended off‑market takeover bid by Forrestania Resources Limited (Forrestania). On 27 August 2026, the Panel made a declaration of unacceptable circumstances in relation to the affairs of Zenith (see TP26/059). The Panel found, among other things, that: Forrestania acquired a substantial holding in relation to Zenith by no later than 13 April 2026 through certain pre‑bid off‑market agreements but did not provide notice that it had become a substantial holder until 9 June 2026 Forrestania’s bidder’s statement failed to disclose material information to Zenith shareholders in relation to the sale process for the Edna May Gold Hub and associated assets (the Edna May Assets), in which Forrestania was participating Zenith’s first supplementary target’s statement did not properly engage...