To provide media, takeover and investor relations services to Kingsgate Consolidated, a gold producer that received a lowball takeover offer from a Thailand based company on the back of the Thai Government ordering the Chatree Gold mine to cease production at the end of 2016.
The Cannings Purple team works with Kingsgate Consolidated at a senior management level to ensure the achievement of ongoing corporate and strategic goals, primarily that the Chatree Gold Mine was operated in line with best practices and that the Thai Government actions were unwarranted. The deficiencies in the proportional takeover offer were promoted through utilising our extensive media contacts and expertise in media liaison, aided with the development of communication tools including announcements and presentations to ensure the timely communication of facts was made available to investors and the public.
Following receipt of the proportional takeover offer, Kingsgate resumed trading on the ASX at a 6x premium to the offer price. The offer received little response from shareholders and closed with only a 0.2% take-up by shareholders.