Hammer Metals Wins Federal Court Approval for Austral Resources Scheme of Arrangement

Aditi Sarkar

13 November 2026 03:15 PM AEDT

Hammer Metals Wins Federal Court Approval for Austral Resources Scheme of Arrangement

Image Source: Krish Capital Pty Ltd

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Hammer Metals Limited (ASX:HMX) disclosed on 13 November 2026 that the Federal Court of Australia has made orders approving the proposed acquisition of Hammer Metals by Austral Resources Australia Ltd (ASX:AR1) by way of a scheme of arrangement, with the scheme expected to become legally effective on 16 November 2026.

Key Points

The Federal Court of Australia made orders on 13 November 2026 approving the scheme of arrangement for Austral Resources Australia Ltd to acquire Hammer Metals Limited.
Hammer Metals expects to lodge an office copy of the Court orders with ASIC on Monday, 16 November 2026, at which time the scheme becomes legally effective.
Hammer Metals Shares are set to be suspended from trading on ASX from close of trading on 16 November 2026, with official quotation terminated and removal from the ASX official list on 26 November 2026.
The scheme implementation date, involving provision of scheme consideration to scheme shareholders, is set for Wednesday, 25 November 2026.

Court Approval and Effective Date

The Federal Court of Australia made orders on 13 November 2026 approving the acquisition of Hammer Metals by Austral Resources Australia Ltd by way of a scheme of arrangement. According to the filing, Hammer Metals expects to lodge an office copy of those Court orders with the Australian Securities and Investments Commission on Monday, 16 November 2026. Upon lodgement, the scheme will become legally effective. Hammer Metals will also request that quotation of its shares on the ASX be suspended from close of trading on Monday, 16 November 2026. Capitalised terms used in the filing carry the meanings given in the Scheme Booklet dated 2 October 2026.

Scheme and Demerger Timetable

New Austral Shares are expected to commence trading on a deferred settlement basis on Tuesday, 17 November 2026, under the ticker ASX:AR1. The record date for determining entitlements to SpinCo Shares under the Demerger, and the record date for determining entitlement to receive scheme consideration, are both set at 7:00pm Sydney time on Wednesday, 18 November 2026. The deadline for small shareholders to lodge a completed Opt-out Notice — for those who do not wish to participate in the Scheme Sale Facility and instead elect to receive New Austral Shares — is 5:00pm AWST on Friday, 20 November 2026. The Demerger Implementation Date is Monday, 23 November 2026.

Final Implementation and Normal Trading Commencement

The scheme implementation date is Wednesday, 25 November 2026, on which scheme consideration will be provided to scheme shareholders and despatch of holding statements confirming the issue of New Austral Shares will commence. Official quotation of Hammer Metals Shares on ASX is set to terminate and Hammer Metals is to be removed from the ASX official list on Thursday, 26 November 2026. New Austral Shares are expected to commence trading on a normal settlement basis on ASX on the same date, Thursday, 26 November 2026. The filing notes all stated dates and times are indicative only.

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