MACH Metals Australia Pty Ltd entered into a Scheme Implementation Deed to acquire remaining 84.20% stake in Rex Minerals Limited (ASX:RXM) for approximately AUD 300 million on July 8, 2024. A cash consideration valued at AUD 0.47 per share will be paid by MACH Metals Australia for 767,901,670 Rex Shares and 5.387501 million for 38.750006 million options. Upon completion, MACH Metals Australia Pty Ltd will own 100% stake in Rex Minerals Limited. The transaction is subject to approval by regulatory board / committee, approval of offer by target shareholders. The deal has been unanimously approved by the board of Rex Minerals. The expected completion of the transaction is in late October 2024.

Macquarie Capital Limited acted as financial advisor for Rex Minerals Limited. Baker & Mckenzie acted as legal advisor for Rex Minerals Limited. Moelis Australia Securities Pty Ltd. acted as financial advisor for MACH Metals Australia Pty Ltd. Corrs Chambers Westgarth acted as legal advisor for MACH Metals Australia Pty Ltd. Computershare Investor Services Pty Limited acted as registrar to Rex Minerals.