CZR Resources takeover bid for Zuleika Gold faces uncertainty

CZR Resources Ltd has announced that its off-market takeover bid for Zuleika Gold Limited is in jeopardy after shareholders failed to meet a critical approval condition.

During a general meeting held on October 23, 2026, CZR shareholders did not pass the resolutions required to approve the acquisition of Zuleika shares held by Yandal Investments Pty Ltd and Annie Guo. Because the company has stated it will not waive this condition, the takeover offer cannot proceed as originally structured.

CZR Resources now intends to apply to the Australian Securities and Investments Commission (ASIC) for consent to withdraw its offer under the Corporations Act 2001. The company noted that ASIC may not grant consent or may impose specific conditions if it does. Further updates will be provided as the application progresses.