DEG.ASX: Scheme becomes Effective

Scheme becomes Effective

Stock	De Grey Mining Ltd (DEG.ASX)
Release Time	23 Apr 2025, 9:54 a.m.
Price Sensitive	Yes

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De Grey Mining Scheme Becomes Effective

Key Points

De Grey Mining's acquisition by Northern Star Resources approved by Federal Court
De Grey shares to be suspended from trading on ASX from close of trading on 23 April 2025
Scheme Consideration of 0.119 New Northern Star Shares per De Grey Share to be issued on 5 May 2025

Full Summary

De Grey Mining Ltd (ASX:DEG) has announced that the Federal Court of Australia has approved the acquisition of 100% of De Grey's shares by Northern Star Resources Ltd (ASX:NST) via a scheme of arrangement. As a result, the scheme is now legally effective. De Grey shares will be suspended from trading on the ASX at the close of trading on 23 April 2025. De Grey shareholders who hold shares at the Record Date of 28 April 2025 (other than Ineligible Shareholders) will be issued 0.119 New Northern Star Shares for each De Grey Share held, as the Scheme Consideration. The scheme is expected to be implemented, and the Scheme Consideration issued, on 5 May 2025. De Grey has received a non-binding draft class ruling from the ATO indicating that CGT scrip-for-scrip roll-over relief will be available for certain De Grey shareholders, but the final class ruling is not expected until after the Implementation Date.