Genesis Minerals Acquires Magnetic Resources NL
Key points
- Scheme of arrangement approved by Supreme Court of Western Australia
- Magnetic Resources NL shares to be suspended from trading
- Magnetic Shareholders to receive Scheme Consideration on 22 June 2026
- New Genesis Shares to commence trading on 23 June 2026
Full summary
Genesis Minerals Limited (ASX: GMD) has acquired Magnetic Resources NL (ASX: MAU) through a scheme of arrangement approved by the Supreme Court of Western Australia. Magnetic Resources shares will be suspended from trading on ASX from the close of trading on 10 June 2026. Magnetic Shareholders will receive their Scheme Consideration on the Implementation Date, which is 22 June 2026. New Genesis Shares are expected to commence trading on 23 June 2026.
Outlook
Genesis Minerals anticipates the successful completion of the acquisition, with new shares expected to start trading shortly.
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