CZR Resources withdraws takeover bid for Zuleika Gold

CZR Resources Ltd has announced the withdrawal of its off-market takeover bid for Zuleika Gold Limited. The decision follows a general meeting on 23 October 2026, where CZR shareholders failed to pass vital resolutions required by the “Shareholder Approval Condition.”

This condition mandated shareholder approval for the acquisition of Zuleika shares held by Yandal Investments Pty Ltd and Annie Guo, as well as the subsequent issuance of CZR shares as consideration. Because these resolutions were not passed, CZR stated the condition can no longer be satisfied and will not be waived.

CZR now intends to apply to the Australian Securities and Investments Commission (ASIC) for consent to withdraw the offer under section 652B of the Corporations Act 2001. The company noted that ASIC may grant consent subject to specific conditions, and there is no guarantee of approval.