• Vault Minerals has received a binding proposal from Genesis Minerals for a merger.
• The proposal values Vault at $5.6 billion or $5.2743 per share.
• Genesis offers 0.7629 new shares plus $0.475 in cash per Vault share.
• The proposal provides a mix and match facility for shareholders.

Vault Minerals Limited (ASX: VAU) has announced the receipt of an unsolicited, binding proposal from Genesis Minerals Limited (ASX: GMD) to merge through a scheme of arrangement. The Genesis Proposal offers 0.7629 new ordinary shares in Genesis plus $0.475 in cash for every Vault share held, valuing Vault at $5.6 billion or $5.2743 per share. This represents a premium of 14.5% to the implied offer price of $4.614 under the scheme with Regis Resources Limited. The proposal provides a mix and match facility for Vault shareholders, enabling them to choose between cash and scrip, subject to certain limits. The Genesis Proposal is not subject to any financing or due diligence condition and is otherwise on substantially similar terms to the proposed transaction with Regis Resources Limited.

Vault Minerals valued at $5.6 billion with consideration of 0.7629 Genesis shares plus $0.475 cash per share

Vault Minerals is evaluating the Genesis Proposal and will provide further updates as appropriate.