Takeover Offer for Mako Gold Limited – Share Offer Unconditional and Status of Offers Conditions

Aurum Resources Limited (ASX: AUE) (Aurum) refers to its off-market takeover offer to acquire all of the ordinary shares (Share Offer) and certain options (Option Offers) in Mako Gold Limited (ASX:MKG) (Mako) pursuant to its bidder’s statement dated 30 October 2024 (as supplemented or replaced from time to time) (Bidder’s Statement).

HIGHLIGHTS

• Aurum declares its takeover offer for all the shares in Mako Gold Limited unconditional
• Aurum currently has a relevant interest in Mako of 39.86%
• The Share Offer and Option Offers are due to close at 7.00pm (Sydney time) on 4 December 2024
• The Mako directors have unanimously recommended that Mako Shareholders and Mako Optionholders accept the Offers in the absence of a Superior Proposal and have already accepted into the Offers
• Aurum urges all remaining Mako Shareholders and Mako Optionholders to accept the Offers without delay

The Share Offer is to acquire all Mako Shares for the consideration of one (1) Aurum Share for every 25.1 Mako Shares held and will extend to Mako Shares issued during the Offer Period as a result of the conversion of Mako convertible securities.

The Option Offers are to acquire Mako Options on the basis of:

• one (1) Aurum Share for every 248 Mako January 2025 Options held; and
• one (1) Aurum Share for every 170 Mako June 2025 Options held.

FREEING THE SHARE OFFER OF CONDITIONS

Having reached a relevant interest of 39.86% in Mako, Aurum is pleased to declare the Share Offer unconditional and free of all defeating conditions as set out in section 13.8 of the Bidder’s Statement.

OFFERS CONDITIONS

The Share Offer is wholly unconditional.

The Option Offers remain subject to all defeating conditions in section 14.9 of the Bidder’s Statement. None of the defeating conditions in section 14.9 of the Bidder’s Statement have been fulfilled or waived.

RECOMMENDED OFFERS

The Mako directors have unanimously recommended that remaining Mako Shareholders and Mako Optionholders accept Aurum’s Offers without delay, in the absence of a Superior Proposal. Given its current relevant interest in Mako, Aurum believes it is unlikely that a Superior Proposal will eventuate.

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