Update re LBR Offer for Vantage
Metals One Plc announced that the creditor meeting to approve Lions Bay Resources' plan to acquire the Vantage Goldfields Group's South African assets has been adjourned until April 16, 2026. The adjournment occurred because creditors required clarifications and amendments to the business rescue plans, with amended plans to be distributed by April 13, 2026. Metals One holds a 30% stake in Lions Bay Resources.
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Creditor meeting to approve LBR's plan to acquire the Vantage Goldfields assets in South Africa adjourned until 16 April 2026
Further to the Company's announcement on 26 March 2026, Metals One (AIM: MET1, OTCQB: MTOPF), a critical and precious metals project developer and investor, announces that the creditor meeting to approve the plan proposed by Lions Bay Resources PTY Ltd ("LBR") (Metals One: 30%) to acquire the South African assets of the Vantage Goldfields Group was adjourned by the Business Rescue Practitioner ("BRP") for one week.
The meeting was adjourned as a majority of the creditors required some clarifications and amendments to be made to the business rescue plans and voted to accordingly postpone the three meetings by seven days. The BRP committed to distributing amended business rescue plans to creditors by Monday, 13 April 2026, to be voted upon at the meetings which have been rescheduled for 16 April 2026.
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