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Why Bastion’s $0.08 Bid for Xanadu Mines Commands Board Backing
9:51am on Monday 19th of May, 2025 AEST
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Mining
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Why Bastion’s $0.08 Bid for Xanadu Mines Commands Board Backing
9:51am on Monday 19th of May, 2025 AEST
Key Points
Bastion offers A$0.08 per share, a 57% premium over last close
Xanadu’s board and major shareholder CAAF endorse the offer as fair and reasonable
Bastion commits to acquiring at least 50.1% of Xanadu shares
Subscription agreement for $17.2 million capital injection at A$0.06 per share
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