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Genesis Minerals Limited (ASX:GMD)

ALERT: Price-sensitive ASX Announcement for GMD
Current share price for GMD : $8.320 3.35 (67.40%)+
Announcement
Release
10 Jun 2026 11:59AM
Price at Release
$4.970
Full Release
download
Summary
The Scheme of Arrangement between Magnetic Resources NL and Genesis Minerals Limited has been declared effective following approval by the Supreme Court of Western Australia. As a result, Genesis Minerals Limited will acquire all shares of Magnetic Resources NL, with trading of Magnetic's shares on the ASX being suspended from 10 June 2026. Shareholders of Magnetic will receive the scheme consideration by 22 June 2026, with new Genesis Shares slated to commence trading on 23 June 2026.
Key Points
  • The scheme between Magnetic Resources NL and Genesis Minerals Limited has been approved and is effective.
  • Genesis Minerals Limited will acquire 100% of the shares in Magnetic Resources NL as part of the scheme.
  • The Supreme Court of Western Australia approved the scheme, and it was lodged with ASIC.
  • Trading of Magnetic Shares on the ASX will be suspended from the close of trading on 10 June 2026.
  • Magnetic Shareholders will receive the scheme consideration on the Implementation Date, set for 22 June 2026.
  • New Genesis Shares will start trading on 23 June 2026.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.