Alita Resources Limited said on Jun, 12 2026 that its board has been made aware of an unsolicited, off-market offer from UK-based Clearwater Recovery Partners LLP to acquire up to 225 million ordinary shares, representing about 15.24 per cent of the miner’s issued capital, at A$0.0025 per share in cash. The offer is scheduled to close at 19:00 (Sydney time) on Jun, 25 2026 and is open only to shareholders holding at least 7.5 million shares.

The board stated that the approach has not been approved, endorsed or recommended by the company and it will not issue a formal recommendation under Australia’s Corporations Act. It urged eligible investors to seek independent legal, financial and tax advice before deciding whether to tender.

Alita noted that the offer price is materially below the value it attributes to the company’s assets. The miner said it is entitled to a minimum A$25 million, backed by a guarantee from Mineral Resources Limited, which implies about A$0.0169 per share based on 1.48 billion shares outstanding. In addition, approximately A$104.4 million, including capitalised interest, is held in escrow pending the outcome of an Australian Taxation Office dispute; a favourable resolution could return some or all of those funds to the company.

The offer is capped at 225 million shares and will be accepted on a first-come-first-served basis. Payment is expected within five business days after the transfer of shares to Clearwater Recovery Partners.

Alita said it has sought information from Clearwater about the proposal and received a response on Jun, 10 2026 that did not add material information. The board will update shareholders on any further developments, including progress in the tax dispute or other matters affecting the company.