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Rey Resources Limited (ASX:REY)

ALERT: Price-sensitive ASX Announcement for REY
Current share price for REY : $0.027 -0.003 (-10%)+
Announcement
Release
8 Aug 2025 12:34PM
Price at Release
$0.030
Full Release
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Summary
Rey Resources Limited has announced that Vigorous Resources Pty Ltd, through its subsidiary, now holds a relevant interest in more than 90% of Rey's shares following its off-market takeover offer. As a result, Vigorous Resources intends to proceed with the compulsory acquisition of all remaining Rey shares it does not already own. The notice details the process of compulsory acquisition under Australian law, the rights of remaining shareholders, and the timeline for the acquisition's completion. The remaining shareholders who have not accepted the offer will have their shares compulsorily acquired on the same terms as the offer, unless they apply to the court to stop the acquisition. The document outlines the compulsory acquisition procedure, payment timeline, and relevant statutory rights available to shareholders.
Key Points
  • Vigorous Resources Pty Ltd has acquired over 90% of Rey Resources Limited shares.
  • Vigorous will proceed to compulsorily acquire the remaining shares under the Corporations Act 2001 (Cth).
  • Remaining Rey shareholders will have their shares acquired on the same terms as the offer.
  • Shareholders have the right to object to the compulsory acquisition by applying to the court within one month.
  • Payment for compulsorily acquired shares will be sent to shareholders after the acquisition period ends.
  • The document provides details on the statutory rights and steps in the compulsory acquisition process.
  • The announcement includes relevant dates, procedural information, and contact details for inquiries.
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.