Amur Minerals Corporation (AIM:AMC, OTC:AMMCF) PLC has advised investors to take no action with regard to a potential all-share offer from Ascent Resources PLC (AIM:AST).
It said it had been restricted in its ability to engage with potential suitors, including Ascent, until the sale of its Russian nickel-copper project is complete and the dividend process is finalised.
It has agreed to pay out £28mln (US$35mln), or 1.8p a share following the disposal of the Kun-Manie asset, a process that is now largely complete.
The indicative Ascent bid values Amur at an indicative 0.175p a share.
In a stock exchange statement, investors were told: “Given the indicative nature of the proposed offer, shareholders are advised to take no action at this stage.
“There can be no certainty that an offer will be made for Amur or the terms on which any such offer will be made.”