Inner Mongolia Xingye Silver Tin Mining Co., Ltd. (hereinafter referred to as "Xingye Silver Tin" or "the Company") and all members of the Board of Directors guarantee that the content of this announcement is true, accurate, and complete, with no false records, misleading statements, or significant omissions.
Special Reminder: Inner Mongolia Xingye Silver Tin Mining Co., Ltd. has designated its wholly-owned subsidiary, Xingye Gold (Hong Kong) Mining Co., Ltd. (hereinafter referred to as "Xingye Hong Kong" or "the Offeror"), as the offeror, which will launch a voluntary comprehensive offer to all shareholders of Far East Gold Limited (ASX code: FEG, hereinafter referred to as "the Target Company") listed on the Australian Securities Exchange on May 27, 2026. This offer is also open to any new shares issued during the offer period through the exercise of options or performance rights of the Target Company.
The offer price for this transaction is AUD 0.13 per share, with the required funds provided by the Company through its own or raised funds. The offer commencement date is May 27, 2026, and the offer period will be determined according to relevant laws and regulations of the Australian Securities Exchange. The Offeror may extend the offer period according to Australian regulations; if a statutory event occurs within seven days before the expiration of the offer period, it will be automatically extended for 14 days after the occurrence of the relevant event.
As of the announcement date, the Offeror has not reached an agreement with the Target Company's Board of Directors or signed relevant legal documents regarding this transaction. The Offeror currently holds 19.99% of the Target Company's shares, making it the largest shareholder. The total investment amount for this transaction, if all shareholders accept the offer, is approximately AUD 38 million, equivalent to RMB 186 million (based on the exchange rate of AUD 1 to RMB 4.882 published by the China Foreign Exchange Trading Center on May 27, 2026). If all options of the Target Company are converted into ordinary shares and accept the offer, and if shares are issued for the Idenburg Gold Project, Xingye Hong Kong intends to acquire the Target Company's equity for a total consideration of approximately AUD 48 million, equivalent to RMB 234 million. The actual transaction amount will depend on the acceptance of the offer by the Target Company's shareholders at the end of the offer period and will be subject to the final acquisition transaction amount.
If FEG issues new shares during the offer period due to options or other reasons, and these new shares are ultimately acquired through the offer, the actual payment amount for this offer will increase. This acquisition will be conducted in accordance with the Australian Corporations Act 2001, requiring approval from relevant regulatory authorities and compliance with the disclosure requirements of the Australian Securities and Investments Commission, as well as meeting other customary offer conditions for similar transactions. This transaction does not constitute a related party transaction and does not constitute a major asset restructuring.
This transaction has been approved by the 33rd meeting of the 10th Board of Directors. According to the Shenzhen Stock Exchange Listing Rules, this transaction does not require submission for approval by the Company's shareholders' meeting. The acquisition is subject to necessary filings or approvals, including but not limited to obtaining effective approvals or exemptions from the Chinese government or its authorized departments and relevant Australian regulatory authorities. The success of this acquisition is uncertain, and investors should be aware of the risks.