Kenmare Resources (LSE:KMR) has confirmed that it received a non-binding cash proposal from International Resources Holdings RSC Ltd for the entire issued and to be issued share capital of the company.
The confirmation followed recent market speculation regarding a potential transaction.
Kenmare said discussions with International Resources Holdings, or IRH, are ongoing. However, there is no certainty that the discussions will result in a firm offer or what the terms of any potential offer would be.
IRH Faces 17 November Takeover Deadline
Under the Irish Takeover Rules, IRH is required by 5:00 p.m. on 17 November 2026 either to announce a firm intention to make an offer for Kenmare or state that it does not intend to make an offer.
The deadline may be extended with the consent of the Irish Takeover Panel in accordance with the applicable rules.
The announcement also places Kenmare in an offer period, triggering disclosure requirements under the Irish Takeover Rules. Investors holding interests of 1% or more in relevant securities are subject to applicable dealing and position disclosure requirements during this period.
Kenmare said the announcement also formally places previously unpublished inside information relating to the approach into the public domain.
Kenmare Resources Operations
Kenmare Resources is a mineral sands producer whose shares are listed on the London Stock Exchange and Euronext Dublin.
The company has approximately 89.2 million ordinary shares in issue and also operates a restricted share option plan.
No firm takeover offer has been announced, and the terms of any potential transaction remain subject to the outcome of discussions between Kenmare and IRH.
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