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Magnetic Resources NL (ASX:MAU)

ALERT: Price-sensitive ASX Announcement for MAU
Current share price for MAU : $1.850 -0.085 (-4.39%)+
Announcement
Release
18 Mar 2026 3:27PM
Price at Release
$1.935
Full Release
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Summary
Magnetic Resources NL announced a proposed scheme of arrangement with Genesis Minerals Limited, where Genesis will acquire all issued shares of Magnetic. The ASX granted a waiver of Listing Rule 6.23.2, allowing the cancellation of remaining Magnetic Options for cash consideration, contingent on the scheme becoming effective. Each Magnetic Option will be cancelled for A$0.47, funded by Genesis. Additionally, all Magnetic Performance Rights are set to vest and be exercised, as they automatically vest upon a change of control. The waiver for Performance Rights is not required under these conditions.
Key Points
  • Magnetic Resources NL has announced a scheme of arrangement with Genesis Minerals Limited.
  • The scheme involves Genesis acquiring all issued shares in Magnetic Resources NL.
  • ASX has granted a waiver of Listing Rule 6.23.2 for the cancellation of Magnetic Options for cash consideration.
  • The cancellation of the Magnetic Options is contingent on the scheme becoming effective.
  • Magnetic Options will be cancelled for A$0.47 each if the scheme is implemented.
  • All Magnetic Performance Rights will vest and be exercised before the scheme's record date.
  • A waiver is not required for the vesting of Magnetic Performance Rights because they automatically vest during a change of control.
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.