SSH Signs Binding Agreement to Acquire Total Contract Mining
| Stock | SSH Group Ltd (SSH.ASX) |
|---|---|
| Release Time | 8 May 2025, 8:18 a.m. |
| Price Sensitive | Yes |
SSH Signs Binding Agreement to Acquire Total Contract Mining
- SSH Group Ltd to acquire 100% of Total Alliance Pty Ltd (Total Contract Mining)
- Acquisition strengthens SSH Mining capabilities and aligns with strategic growth
- Key TCM executives, Sam Baker and Kevin Malaxos, to join SSH Group in senior leadership roles
SSH Group Ltd (ASX:SSH) has entered into a binding Share Sale Agreement to acquire 100% of the shares in Total Alliance Pty Ltd (t/a Total Contract Mining) (TCM) from Mr Samuel Baker. The acquisition will strengthen SSH Mining capabilities and aligns with its strategic growth trajectory. Key executives from TCM, Mr Sam Baker and Mr Kevin Malaxos, will formally join SSH Group in senior leadership roles. As part of the remuneration and consulting fees, SSH will issue a total of 7,000,000 performance rights to Mr Baker, Mr Malaxos and the newly appointed mining consultants. These performance rights will convert into shares upon SSH Mining generating at least AUD$4,000,000.00 in audited, cumulative net profit before tax within the 18-month period from 1 July 2025 to 31 December 2026. Mr Malaxos will join the Board of SSH Group as a Non-Executive Director on 1 July 2025, and Mr Baker will be appointed as Chief Operating Officer of Mining Services for SSH Mining. These appointments mark a significant enhancement of SSH Group's leadership capability and will play a central role in delivering operational excellence and long-term strategic growth.