ZETA RESOURCES LIMITED (ASX.ZER)

delisted at entity's request under Listing Rule 17.11

we understand that UIL Limited, the majority shareholder, exercised its compulsory acquisition right under the Companies Act 1981 of Bermuda to acquire all shares in Zeta held by shareholders other than UIL for A$0.2973 in cash for each Zeta share

The company has announced that UIL Limited, the majority shareholder, has exercised its compulsory acquisition right under the Companies Act 1981 of Bermuda to acquire all shares in Zeta held by shareholders other than UIL for an offer price of A$0.2973 in cash for each Zeta share. The offer price is equal to the net asset value of Zeta shares as of 8 October 2024 and is above the last traded price of A$0.22 per share on ASX. The company will also apply to ASX for removal from the official list.

The securities of Zeta Resources Limited will be suspended from quotation immediately under Listing Rule 17.2, following the receipt of compulsory acquisition notices (pursuant to the Companies Act 1981 of Bermuda) from its major shareholders.

The suspension of trading in the securities of Zeta Resources Limited will be lifted immediately following the release by ZER of an announcement regarding an investment sale transaction.

The company plans to receive USD 41 million from its investment in Koumbia Bauxite Investments Ltd, which terminated its commercialisation deed with Alliance Mining Commodities Ltd. The payment will increase Zeta's total cash available for new investment opportunities.

The Company reported an unaudited net tangible asset of 29.64 cents per share for its ordinary shares as of 30 September 2024, accounting for 42.03% of total investments.

The securities of Zeta Resources Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of ZER, pending the release of an announcement in relation to an investment sale transaction.

The securities of Zeta Resources Limited will be reinstated to Official Quotation as from the commencement of trading on Friday, 6 December 2019 following lodgement of its Annual Report for the year ended 30 June 2019.

The company releases its Appendix 4G.

The company releases its Corporate Governance Statement.

The company lodges its Annual Report 2019.

The company's 2019 AGM will be held at 34 Bermudiana Road, Hamilton HM 11, Bermuda on Monday, 30 December 2019 at 7:00am, Atlantic Standard Time (AST).

An independent valuation firm has been appointed to value Zeta's unlisted equity investments. All of the valuations have now been completed, and Zeta's auditors are currently reviewing these. Once the auditors are satisfied that there is no further information or analysis required, the statutory accounts can be finalised. Zeta expects to release its statutory accounts as part of the company's Annual Report, most likely by 17 December 2019, but certainly no later than 31 December 2019. Once the Annual Report has been released, Zeta will request that the suspension of its shares be lifted.

Panoramic Resources wishes to acknowledge, in response to a recommendation received from ASIC, the announcement made by its major shareholder, Zeta Resources, on 12 November 2019 in which it clarified its position on the unsolicited, conditional off-market takeover bid announced by Independence Group on 4 November 2019.

Zeta has been requested to clarify its statement on its website regarding the off-market takeover by Independence Group to acquire all of hte ordinary shares of Panoramic Resources which it does not already own. The amended statement now reads as follows: "Zeta Resources, which holds 230,106,528 shares (35.17%) in Panoramic Resources at the date of this statement, does not intend to accept Independence Group's current offer. Zeta Resources reserves the right to accept a superior proposal from Independence Group or any other bidder for Panoramic Resources."

The unaudited net tangible asset backing for the company's ordinary shares at 31 October 2019 in Australian dollars was as follows: Investments in listed securities: 26.17 cents per share; Investments in unlisted securities: 12.76 cents per share; Total NTA: 38.93 cents per share.

Zeta has been working diligently to resolve the difference of opinion with its auditors, in order for its Statutory Accounts to be lodged as soon as possible. Zeta expects that the suspension of the company's securities will continue until its Statutory Accounts are released to the market. An independent valuation firm has been appointed to value Zeta's unlisted equity investments, and that appointment has been accepted by the company's auditors. The valuation process is underway, and is expected to take a period of 2-3 weeks. Once the valuations have been completed, the auditors will need to be satisfied that the process has been acceptable, and the audit for the statutory accounts finalised.

The unaudited net tangible asset backing for the company's ordinary shares at 30 September 2019, in Australian dollars was as follows: Investments in listed securities: 25.61 cents per share; Investments in unlisted securities: 13.28 cents per share; Total NTA: 38.89 cents per share.

The securities of Zeta Resources Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of ZER, pending the release of an announcement regarding its statutory financial accounts for the year ended 30 June 2019.

listed entity carried for record purposes only