Gold Road Resources Limited (Gold Road or the Company) refers to...

Gold Road Resources Limited (Gold Road or the Company) refers to the revised offmarket takeover offer made by Ramelius Resources Limited (Ramelius) for Apollo
Consolidated Limited (Apollo) comprising $0.34 in cash and 0.1778 Ramelius shares per
Apollo share announced on 1 November 2021 (Improved Ramelius Offer).
In response to the Improved Ramelius Offer, Gold Road advises that it does not intend
to improve the $0.56 cash per Apollo share consideration offered under its
unconditional off-market takeover offer for Apollo (Offer), nor to vary the Offer by
extending the Offer period.
Gold Road confirms that, as required under the Corporations Act and notwithstanding
the Improved Ramelius Offer, it will shortly commence dispatch of the bidder’s statement
in respect of its Offer. The Offer is expected to close at 7.00pm (Sydney time) on 8
December 2021.
A supplementary bidder’s statement (in the form attached) has been lodged with ASIC
and will be dispatched to Apollo shareholders together with the original bidder’s statement.
Apollo shareholders should read Gold Road’s original bidder’s statement and the
supplementary bidder’s statement together.
Gold Road has not made a final decision as to what it will do in relation to its 19.9% shareholding interest in
Apollo, comprising 58,324,117 Apollo shares. Gold Road reserves all of its rights in respect of its Apollo
shareholding, including (without limitation) to:
• not accept the Improved Ramelius Offer and take no further action;
• accept its shareholding interest into the Improved Ramelius Offer (including prior to the expiry of the
Offer period); or
• otherwise dispose of its shareholding interest (including prior to the expiry of the Offer period).
Additionally, Gold Road has removed its standing bid in the market for Apollo Shares at $0.56 per share.
This release has been authorised by the Board