Zenith Minerals Limited 01 & 02 – Panel Makes Interim Orders

TP26/052

The Panel has made interim orders in relation to an application from Harvest Lane Asset Management Pty Ltd dated 23 July 2026 and Ida Metal Investments Pty Ltd dated 28 July 2026, both in relation to the affairs of Zenith Minerals Limited (Zenith).1

The interim orders require that:

  1. Without the consent of the Panel, Forrestania Resources Limited (Forrestania) must not process any acceptances received in relation to its off‑market takeover bid to acquire all of the ordinary shares in Zenith (the Bid) or declare offers under the Bid free from any defeating condition and
  2. Forrestania must keep the market informed of the nature and effect of the above order each time Forrestania gives a substantial holding notice in relation to Zenith.

The interim orders have effect until the earliest of further order of the Panel, determination of the proceedings or 2 months from the date of the interim orders.

The Panel is conducting proceedings in response to the applications and considers that these interim orders are necessary to preserve the status quo in the interim.

The interim orders supersede the undertaking given by Forrestania (see TP26/048). The Panel has consented to the withdrawal of the undertaking by Forrestania.

The sitting Panel is Timothy Longstaff, Rory Moriarty and Nicola Wakefield Evans AM (sitting President).

A copy of the interim orders is attached at Annexure A.

Andrew Bubniw
Acting Chief Executive, Takeovers Panel
Level 16, 530 Collins Street
Melbourne VIC 3000
Ph: +61 3 9655 3500
takeovers@takeovers.gov.au

Annexure A

Corporations Act
Section 657E
Interim Orders

Zenith Minerals Limited 01 & 02

Harvest Lane Asset Management Pty Ltd made an application to the Panel dated 23 July 2026 and Ida Metal Investments Pty Ltd made an application to the Panel received on 28 July 2026, both in relation to the affairs of Zenith Minerals Limited (Zenith).

The Panel ORDERS:

  1. Without the consent of the Panel, Forrestania Resources Limited (Forrestania) must not:
    1. process any acceptances received in relation to its off‑market takeover bid to acquire all of the ordinary shares in Zenith (the Bid) or
    2. declare offers under the Bid to be free from any defeating condition.
  2. Forrestania must, each time it provides to ASX Limited a notice giving information required by section 671B of the Corporations Act 2001 in relation to its substantial holding in Zenith, ensure that the notice is accompanied by a statement outlining the nature and effect of Order 1.
  3. These interim orders have effect until the earliest of:
    1. further order of the Panel
    2. the determination of the proceedings and
    3. 2 months from the date of these interim orders.

Tania Mattei
General Counsel
with authority of Nicola Wakefield Evans AM
President of the sitting Panel
Dated 2 August 2026

1 The matters are being heard together under a direction of the Panel.

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