HAS.ASX: Divestment Gold Assets & In-Specie Distribution MBK Shares

Divestment Gold Assets & In-Specie Distribution MBK Shares

Stock	Hastings Technology Metals Ltd (HAS.ASX)
Release Time	1 Dec 2025, 8:54 a.m.
Price Sensitive	Yes

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Hastings Divests Gold Assets, Distributes MBK Shares

Key Points

Shareholders approve in-specie distribution of MBK Consideration Shares
All conditions precedent to MBK's acquisition of Hastings gold assets satisfied
Completion of the divestment scheduled for 5 December 2025

Full Summary

Hastings Technology Metals Ltd (ASX:HAS) has announced that following shareholder approval of the in-specie distribution of MBK Consideration Shares for its gold assets at the company's Annual General Meeting held on 28 November 2025, all conditions precedent to MBK's acquisition of Hastings' gold assets have now been satisfied or waived. Completion of the acquisition is scheduled for 5 December 2025. At Completion, MBK will issue to Hastings 160,022,264 MBK Shares (Consideration Shares) as consideration for the acquisition of the Great Western Gold, Ark, and Darcy's gold projects. Additionally, Hastings' Chief Operating Officer Tim Gilbert has been appointed as Chief Executive Officer of MBK, and Hastings' Executive Chairman Charles Lew will join MBK's Board as a non-executive director following completion on 5 December 2025. Hastings believes the divestment and in-specie distribution of MBK Consideration Shares will provide its shareholders with immediate liquidity for its gold assets and the benefits of owning two promising resource investments - rare earth and gold.