Acquisition Activities"On 30 September 2019, we advised that the...

Acquisition Activities
"On 30 September 2019, we advised that the Board of AKN was negotiating the
contents of a binding term sheet relating to an Australian resource project. During the
Quarter, various significant changes occurred to the term sheet counter-party which
were completely beyond AKN’s control. At the present time, AKN continues to liaise
with the party with a view to finalizing an agreed transaction. However, the AKN
Board cannot be certain about the prospects of achieving this outcome or the
timeframe involved in doing so. We continue to monitor the situation as well as
contemplate potential alternative transaction options.
As previously advised, when AKN is successful in securing an agreed set of
acquisition terms, those terms will involve a substantial transaction triggering
Chapters 1, 2 and 11 of the ASX Listing Rules.
When the transaction is announced, AKN will then be required to carry out a
significant capital raising, appoint a lead broker, secure shareholder approval for
various aspects associated with the transaction, reconstitute the Board and complete
the other re-compliance requirements of ASX."


My interest is if the top 2 shareholders will be central in the capital raising if it eventuates.
1 Bienitial International Industrial Co Ltd # 349,018,230 37.43%
2 Yunnan Copper Industry (Group) Co Limited
# 299,922,326 32.17%

To date over $5 million cornerstone investment by China Yunnan Copper (Australia) Investment & Development Co Ltd, a subsidiary of Yunnan Copper Industry (Group) Co Ltd which is China's third largest copper producer and its largest silver and bismuth producer.