Zenith Minerals Limited 01 & 02 – Panel Makes New Interim Orders

TP26/061

The Panel previously made interim orders in relation to an application from Harvest Lane Asset Management Pty Ltd dated 23 July 2026 and from Ida Metal Investments Pty Ltd dated 28 July 2026, both in relation to the affairs of Zenith Minerals Limited (Zenith) (see TP26/052).

On 27 August 2026, the Panel made a declaration of unacceptable circumstances in relation to the applications (see TP26/059).

The Panel is still considering whether it should make final orders and, if so, what final orders it should make.

In order to preserve the status quo while it considers final orders, the Panel has made new interim orders (see Annexure A).

The interim orders are substantively the same as the interim orders previously made but include an additional order requiring Forrestania Resources Limited to extend its takeover bid for Zenith so that it does not end before 14 September 2026.

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 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. The interim orders dated 2 August 2026 are revoked and replaced by these further interim orders.
  2. 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.
  3. 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 2.
  4. Forrestania must extend the offer period for the Bid so that it ends at a time that is no earlier than 5:00pm (Perth time) on 14 September 2026.
  5. 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 30 August 2026