Kore Potash working with two interested parties in formal sale process

(Sharecast News) - Kore Potash said on Tuesday that two parties were currently participating in its formal sale process, after a new potential bidder approached the company earlier in June. The AIM-traded potash developer, which owns 97.46% of the Kola and Dougou Extension projects in the Republic of Congo's Sintoukola Basin, launched the process in November after receiving two approaches for a possible acquisition of the company.

One party suspended its interest in February for internal reasons, while a new party approached Kore on 8 June and has since begun evaluating a possible offer.

Kore said there was no certainty that any offer would be made, adding that participants in the process would not be required to be publicly identified or bound by the usual 28-day "put up or shut up" deadline while they remain in the formal sale process.

At 0809 BST, shares in Kore Potash were down 0.14% at 2.9p.

Reporting by Josh White for Sharecast.com.

See latest RNS on Investegate