Jiangxi Copper Company Limited (00358.HK) announced that on 23 November 2025 and 28 November 2025, it submitted two non-binding cash offers to the board of SolGold Plc (listed on the London Stock Exchange) at a price of 26 pence per share, seeking to acquire the entire share capital of SolGold.

Jiangxi Copper holds approximately 365.76 million shares of SolGold, representing around 12.19% of its issued shares. According to the announcement, both offers were rejected by SolGold’s board. Whether Jiangxi Copper will proceed to make a firm offer remains uncertain, though under the City Code on Takeovers and Mergers, the company must decide by 26 December 2025 (London time) to either finalize or withdraw its potential acquisition plans.

The announcement stresses that the deal is still at a preliminary stage and subject to further negotiation, including potential adjustments to any dividend or other distributions by SolGold. Jiangxi Copper reminds investors to exercise caution given that there is no certainty the acquisition will proceed and promises timely disclosure of any further developments in accordance with relevant regulations.