Jiangxi Copper Announces Key Progress in Formal Offer to Acquire SolGold PLC

Summary of Key Developments

• Jiangxi Copper Company Limited (the “Company”) is proceeding with its previously announced formal offer to acquire all shares of SolGold plc (the “Target Company”) not already held by Jiangxi Copper.
• The offer is being made via Jiangxi Copper’s wholly-owned subsidiary, Jiangxi Copper (Hong Kong) Investment Company Limited.
• The cash consideration for the offer is 28 pence per share of SolGold plc.
• The acquisition process is advancing according to UK takeover procedures, with significant approvals already secured.

Detailed Progress of the Acquisition

According to the Company, a court meeting was held on 23 February 2026 (London local time), where shareholders of SolGold plc approved the offer initiated by Jiangxi Copper. On the same day, SolGold plc also convened a general meeting, during which the offer was similarly approved by the relevant parties.

The next major procedural step is a UK court hearing scheduled for 2 March 2026. If the court gives its approval as expected, the acquisition is projected to become effective on 4 March 2026.

Critical Information for Shareholders

• Share Price Sensitivity: The offer price of 28 pence per share may set a benchmark for SolGold shares in the market, and any further regulatory or procedural developments could influence both Jiangxi Copper and SolGold’s share values.
• Regulatory Approvals: The transaction is subject to a number of regulatory reviews. These include requirements in the People’s Republic of China, Hong Kong SAR, the United Kingdom, and potentially other jurisdictions.
• Risks and Disclosure: The acquisition is not yet finalized, pending the UK court hearing and other regulatory clearances. Any delays, conditions, or rejections at these stages could impact the transaction, and consequently, the share prices of both companies.
• Commitment to Transparency: Jiangxi Copper has pledged to disclose all material developments in line with applicable regulations, ensuring that investors are kept informed of any changes that may affect their investment decisions.

Board and Management

The announcement is issued with the full acknowledgment and endorsement of the board of Jiangxi Copper Company Limited. The board is comprised of experienced executives and independent non-executive directors, including Chairman Zheng Gaoqing, who has signed off on this disclosure.

Potential Impact on Share Value

• This acquisition, if completed, represents a significant overseas investment by Jiangxi Copper, potentially strengthening its position in the global copper industry.
• The price offered per share and the outcome of the remaining regulatory processes are key factors that could influence the market valuation of both Jiangxi Copper and SolGold plc in the near term.
• Investors should monitor for further announcements regarding the court hearing and regulatory approvals, as these are likely to be price-sensitive events.

Important Risk Warning

The transaction remains subject to completion of all required procedures and regulatory approvals. Investors are strongly advised to remain alert to associated risks and not to make investment decisions based solely on this announcement. Jiangxi Copper will continue to provide timely updates in accordance with regulatory requirements.

Disclaimer: This article is provided for informational purposes only and does not constitute investment advice. All forward-looking statements are subject to risks and uncertainties. Investors should conduct their own research or consult with a financial advisor before making any investment decisions.

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