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Capricorn increases share buyout offer for Warriedar

Capricorn's Karlawinda project

Capricorn's Karlawinda project

7th October 2025

By: Marleny Arnoldi

Online News Editor

     

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ASX-listed Capricorn Metals has increased its buyout offer price for fellow ASX-listed Warriedar from an initial one Capricorn share for every 62 Warriedar shares to one Capricorn share for every 52.57 Warriedar shares.

The Warriedar board has unanimously recommended that shareholders vote in favour of the share scheme proposed by Capricorn, pending an independent expert’s evaluation that is under way.

The implied value of the revised share scheme consideration is $0.26 apiece, which represents a 24% premium to the closing price of Warriedar’s shares on ASX on October 6 and a 116% premium to the closing price of Warriedar’s shares on July 23, which was the last trading day before Warriedar announced its buyout offer.

The companies have also agreed to revised terms as to the separate scheme of arrangement pursuant to which it is proposed that the outstanding Warriedar listed options will be exchanged for new Capricorn options at a revised ratio of one Capricorn ratio for every 52.57 Warriedar listed options.

If the share scheme and option scheme are implemented, Warriedar shareholders will hold 5.5% of the enlarged group on a diluted basis.

Existing shareholders representing 25% of Warriedar’s shareholding have indicated their intention to vote in favour of both the share and option schemes.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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