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Magnetic Resources NL (ASX:MAU)

ALERT: Price-sensitive ASX Announcement for MAU
Current share price for MAU : $1.850 -0.067 (-3.52%)+
Announcement
Release
9 Jun 2026 2:10PM
Price at Release
$1.918
Full Release
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Summary
On June 9, 2026, Magnetic Resources NL announced that the Supreme Court of Western Australia approved a scheme of arrangement under which Genesis Minerals Limited will acquire 100% of Magnetic's shares. The approval is part of the legal process under Part 5.1 of the Corporations Act 2001. Following the court's decision, Magnetic Resources will lodge the court's orders with the Australian Securities and Investments Commission, making the scheme effective on June 10, 2026. Consequently, Magnetic's shares will be suspended from trading on the ASX at the close of trading on that day. Shareholders eligible under the scheme will receive their consideration on the Implementation Date, June 22, 2026.
Key Points
  • Court approval received for the scheme
  • Genesis Minerals Limited to acquire 100% of shares
  • Scheme effective upon lodging with ASIC on June 10
  • Suspension of Magnetic's shares from ASX trading
  • Implementation Date set for June 22, 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.