Highlights

  • Perseus terminates its binding offer as Robex revises merger agreement with Predictive Discovery.
  • Revised Robex Merger increases Predictive shareholders’ stake in combined entity from 51% to 53.5%.
  • Perseus does not intend to submit a new proposal unless circumstances around merger change.

Perseus Mining Limited (ASX:PRU) has formally withdrawn its proposal to acquire Predictive Discovery Limited, following the announcement of a revised merger agreement between Predictive and Robex Resources Inc. (the Revised Robex Merger).

Termination of Perseus Proposal
The Perseus Proposal, which was a definitive binding offer announced on 3 December 2025, is no longer considered a superior proposal under the terms of the original arrangement agreement between Robex and Predictive dated 5 October 2025. As a result, Perseus’s offer has been terminated.

Impact of Revised Robex Merger
Under the Revised Robex Merger, the ownership of Predictive shareholders in the combined Predictive-Robex entity has increased from 51.0% to 53.5%. Perseus, as the largest shareholder of Predictive, acknowledged this increase in ownership but noted that it remains marginal.

Market Response and Share Performance
Despite the change in ownership structure, Perseus observed that the Revised Robex Merger is still considered inferior to its original proposal. This view is supported by the trading performance of Predictive shares, which continue to trade at a discount to the value implied by the Perseus Proposal.

Share Price Snapshot
PRU was trading 0.27% lower at AUD 5.385 per share as of 16 December 2025.