Rey Resources Limited (ASX: REY) has acknowledged a substantial holder notice from Vigorous Resources Pty Ltd, indicating that Vigorous Resources has acquired 94.238% of Rey Resources’ shares through its offer. Rey Resources is an ASX-listed company focused on oil and gas exploration and development. Vigorous Resources has now commenced the compulsory acquisition process under the Corporations Act 2001 (Cth).
According to the notice released on 8 August 2025, the ASX will suspend quotation of Rey Resources’ shares five business days after the date of the Compulsory Acquisition Notice, which is scheduled for 15 August 2025. Following the suspension, Rey Resources will be removed from the official list of the ASX at the close of trading on a date determined by the ASX.
Rey Resources shareholders who have not yet accepted the offer from Vigorous Resources are still able to do so until the offer closing time of 7:00pm (AEST) on 11 August 2025. The offer will not be extended, and shareholders who accept the offer by the closing date will receive consideration for their shares sooner than those undergoing the compulsory acquisition process.
Shareholders who do not accept the offer before the closing date will have their shares compulsorily acquired. Vigorous Resources will pay Rey Resources the consideration for these shares, and the relevant shareholders will then be entitled to claim the offer consideration from Rey Resources. The announcement has been approved and authorised for release by the Board of Directors of Rey Resources.
