LONDON (Alliance News) - Worthington Group PLC Friday asked for a tenth extension to be put in place regarding the deadline by which Nuna Minerals AS has to make a firm offer for the company or walk away from the deal.
Worthington Group agreed the deal with Nuna Minerals in May 2015, but has requested repeated extensions to the offer deadline whilst Nuna tries to secure funding for the deal from Greenland Mining Management Ltd.
Nuna is in talks to obtain so-called 'rescue' refinancing from Greenland Mining Management, with a view to then subsequently making an offer for Worthington.
"There can be no certainty that these discussions will lead to an offer being made for the company, nor as to the terms on which any offer may be made," said Worthington.
The deadline has now been extended to April 1.
Worthington shares remain suspended.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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Worthington Grp (WRN)