Lion Selection Group Limited (ASX:LSX) agree to acquire additional 5.1% stake in PhosCo Ltd (ASX:PHO) from Lion Manager Pty Ltd for AUD 1.4 million on December 12, 2022. Under the terms of transaction, Lion has agreed to acquire 14 million PhosCo shares and Lion will issue 2.8M Lion shares to the Manager in exchange for 14 million PhosCo shares. There is no cash consideration. This increases Lion’s PhosCo holding from 14.8% to 19.9%. Through this transaction, Lion will increase its exposure to PhosCo, which in Lion’s has a deep value creation proposition around its Tunisian rock phosphate assets. transaction is subject to shareholder approval.

Lion Selection Group Limited (ASX:LSX) terminated the agreement to acquire additional 5.1% stake in PhosCo Ltd (ASX:PHO) from Lion Manager Pty Ltd on March 31, 2023. The condition precedent to the agreement (which required the approval of Lion shareholders for the issue of the 2.8M Lion shares) was not satisfied by 5 pm on March 31, 2023.