Rex Minerals (RXM AU): 10th Oct Vote On Salim Group's Offer

Sep 05, 2024

∙ Paid

Back on the 8th July, copper-gold play Rex Minerals (RXM AU) entered into a Scheme with MACH Australia. MACH, a wholly-owned entity of Indonesia's Salim Group, at A$0.47/share, in cash.
That's a 71% premium to last close and a decade-high. The Offer has unanimous board support. Apart from Rex shareholder approval, the Offer requires FIRB signing off.
The Scheme Booklet is now out, with a Scheme Meeting to be held on the 10th October. Expected implementation on the 30 October. The IE says fair & reasonable.

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