Far East Gold (ASX:FEG) Urges Shareholders to Wait on Xingye Gold’s Takeover Offer

FEG

3 min read | June 12, 2026 01:46 PM AEST | By Sonal Goyal

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Far East Gold (ASX:FEG) Urges Shareholders to Wait on Xingye Gold’s Takeover Offer — Image source: Company Update

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Highlights

Far East Gold has advised shareholders to take no action on Xingye Gold’s off-market takeover offer of AUD 0.13 per share until further information is released.

The company has appointed financial, legal, valuation and technical advisers to conduct an independent assessment of the proposal.

Xingye Gold, which currently owns 19.99% of Far East Gold, says the offer represents a 34.02% premium to FEG’s closing price on 26 May 2026.

Far East Gold Limited (ASX:FEG) has advised shareholders not to take any action in response to an off-market takeover offer from Xingye Gold (Hong Kong) Mining Company Limited, which is seeking to acquire all shares it does not already own for AUD 0.13 per share in cash.

The recommendation follows Xingye Gold’s formal Bidder’s Statement and relates to a takeover proposal first disclosed in late May 2026. The board has urged shareholders to wait for the company’s Target’s Statement, independent expert assessments and the board's recommendation, before deciding whether to accept or reject the offer.

Board Advises Shareholders to Wait

In an announcement released on 11 June 2026, FEG stated that shareholders are not required to respond to correspondence from Xingye Gold, access the offer website, return acceptance forms or contact their brokers at this stage.

The company emphasised that ignoring the offer documentation will not affect existing shareholdings. According to the board, shareholders should wait until they receive comprehensive information regarding the proposal before determining whether to accept or reject the offer.

Independent Review Process Underway

The company highlighted that the takeover proposal was made without prior discussions or engagement with the company. In response, the board has assembled a team of advisers to evaluate the offer and provide shareholders with an independent assessment.

The advisory team includes Canaccord Genuity (Australia) Limited as strategic and financial adviser, Thomsons Geer as legal adviser, and independent experts Lonergan Edwards & Associates and SRK Consulting to undertake valuation and technical reviews.

The findings of these advisers, together with the board’s formal recommendation, will be included in the company’s Target’s Statement, which is expected to be released and distributed to shareholders within the timeframe prescribed under the Corporations Act.

Xingye Gold Highlights Premium Offer

Xingye Gold’s Bidder’s Statement outlines its proposal to acquire all remaining Far East Gold shares for AUD 0.13 in cash per share. The offer is scheduled to remain open until 22 July 2026, unless extended or withdrawn.

The bidder noted that it is currently FEG’s largest shareholder, holding 19.99% of the company, following a AUD 14.67 million investment completed in early 2025.

According to Xingye Gold, the offer represents a 34.02% premium to FEG’s closing share price of AUD 0.097 on 26 May 2026. The bidder also stated that the proposal reflects a 19.45% premium to the one-month volume weighted average price (VWAP) and a 5.20% premium to the three-month VWAP.

FEG shares were trading 3.33% higher at AUD 0.16 per share at the time of writing on 12 June 2026.

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