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Magnetic Resources NL (ASX:MAU)

ALERT: Price-sensitive ASX Announcement for MAU
Current share price for MAU : $1.850 -0.05 (-2.63%)+
Announcement
Release
10 Jun 2026 11:59AM
Price at Release
$1.900
Full Release
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Summary
Magnetic Resources NL (ASX: MAU) announced that the scheme of arrangement under which Genesis Minerals Limited (ASX: GMD) will acquire 100% of the shares in Magnetic has become effective. This follows the Supreme Court of Western Australia's approval of the scheme, and the lodgment of court orders with the Australian Securities and Investments Commission (ASIC). Consequently, Magnetic's shares will be suspended from trading on the ASX from the close of trading on 10 June 2026. Shareholders will receive their scheme consideration on the implementation date, 22 June 2026, with new Genesis shares expected to commence trading on 23 June 2026. The board of Magnetic Resources NL authorized the release of this information.
Key Points
  • Scheme of arrangement effective for Genesis Minerals Limited to acquire Magnetic Resources NL.
  • Court approval received and orders lodged with ASIC.
  • Magnetic shares to be suspended from ASX trading from 10 June 2026.
  • Scheme consideration to be distributed on 22 June 2026.
  • New Genesis shares trading to commence on 23 June 2026.
  • Announcement authorized by Magnetic Resources NL board.
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.