Vigorous Resources Pty Ltd has announced its intention to proceed with the compulsory acquisition of all remaining shares in Rey Resources Limited (ASX: REY). Rey Resources is an ASX-listed company focused on energy exploration and development. Vigorous Resources launched an off-market takeover bid to acquire all ordinary shares of Rey Resources, according to the notice filed with the ASX today.
Vigorous Resources has acquired a relevant interest in more than 90% of Rey Resources’ ordinary shares and more than 75% of the shares it offered to acquire as of August 1, 2025. As a result, the company is now exercising its right to compulsorily acquire the remaining Rey Shares under the compulsory acquisition provisions of the Corporations Act. The terms of the compulsory acquisition will mirror the original offer, with shareholders receiving $0.028 per Rey Share.
Rey shareholders who have not yet accepted the offer have until 7:00pm (AEST) on Monday, August 11, 2025, to do so. Shareholders who accept the offer by this deadline will receive their consideration sooner than those subject to compulsory acquisition. Following the completion of the compulsory acquisition, Vigorous Resources will pay Rey Resources the consideration for the compulsorily acquired shares, and Rey will then notify shareholders on how to claim their funds, which is expected to occur within five to six weeks.
The ASX will suspend quotation of Rey Shares five business days after the date of the Compulsory Acquisition Notice. Following suspension, Rey Resources will be removed from the official list of the ASX at the close of trading on a date to be determined.
