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This is an Announcement Falling Under Rule 2.4 of the United Kingdom City Code on Takeovers and Mergers (the “Code”) and Does Not Constitute a Firm Intention to Make an Offer Under Rule 2.7 of the Code. There Can Be No Certainty That Any Such Offer Will Be Made.
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TORONTO, May 20, 2025 (GLOBE NEWSWIRE) — Dundee Precious Metals Inc. (TSX:DPM) (“DPM” or the “Company”) notes the recent announcement by Adriatic Metals plc (“Adriatic”) and confirms that DPM is in discussions regarding a possible offer for the entire issued and to be issued share capital of Adriatic.
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There can be no certainty that any offer will be made, nor as to the terms on which any offer might be made. This announcement does not amount to a firm intention to make an offer under Rule 2.7 of the Code nor does it impose any obligations on DPM to make an offer.
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Rule 2.6(a) of the Code requires that DPM, by no later than 5.00 p.m. (London time) on 17 June 2025, being the 28th day following the date of this announcement, to either announce a firm intention to make an offer for Adriatic in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline will only be extended with the consent of the Takeover Panel, in accordance with Rule 2.6(c) of the Code
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| Enquiries: | |
| Dundee Precious Metals Inc. Jennifer Cameron | +1 416 219 6177 |
| BMO Capital Markets (Financial Adviser to DPM) Gary Mattan Thomas Rider Nick Macann | +44 20 7236 1010 |
| Tavistock (Financial PR to DPM) Gareth Tredway Tara Vivian-Neale | +44 207 920 3150 |
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About Dundee Precious Metals
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Dundee Precious Metals Inc. is a Canadian-based international gold mining company with operations and projects located in Bulgaria, Serbia and Ecuador. Our strategic objective is to become a mid-tier precious metals company, which is based on sustainable, responsible and efficient gold production from our portfolio, the development of quality assets, and maintaining a strong financial position to support growth in mineral reserves and production through disciplined strategic transactions. This strategy creates a platform for robust growth to deliver above-average returns for our shareholders. DPM’s shares are traded on the Toronto Stock Exchange (symbol: DPM).
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Further information
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BMO Capital Markets Limited (“BMO”), which is authorised and regulated by the Financial Conduct Authority in the United Kingdom, is acting exclusively for DPM and no one else in connection with the matters set out in this announcement and will not regard any other person as its client in relation to the matters in this announcement and will not be responsible to anyone other than DPM for providing the protections afforded to clients of BMO nor for providing advice in relation to any matter referred to in this announcement. Neither BMO nor any of its affiliates owes or accepts any duty, liability, or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of BMO in connection with this announcement, any statement contained herein or otherwise.
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