Maas Group Holdings Calls 2026 AGM to Vote on $1.703 Billion Construction Materials Sale to Heidelberg Materials

Sonal Goyal

26 August 2026 10:24 AM AEST

Maas Group Holdings Calls 2026 AGM to Vote on $1.703 Billion Construction Materials Sale to Heidelberg Materials

Image Source: Krish Capital Pty Ltd

You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more

Start Your Free Trial Now!

Maas Group Holdings (ASX:MGH) has issued a Notice of Annual General Meeting scheduled for 24 September 2026, at which shareholders will be asked to approve the sale of the company's Construction Materials business to Heidelberg Materials Australia for cash consideration of up to $1.703 billion.

Key Points

The 2026 AGM will be held on 24 September 2026 at 9:00am AEST as a hybrid meeting in Brisbane and online
Shareholders will vote on the sale of the Construction Materials Division to Heidelberg Materials Australia for up to $1.703 billion, including $120.0 million in contingent cash consideration
All directors unanimously recommend shareholders vote in favour of the Construction Materials Sale in the absence of a superior proposal
Wesley Jon Maas and Emma Margaret Maas together hold and/or control votes in relation to 178,908,133 shares and have confirmed they intend to vote all those shares in favour of the sale

Construction Materials Sale Terms and Conditions

According to the filing, Maas Group entered into a Share Sale Deed for the divestment of its Construction Materials Division to Heidelberg Materials Australia. The total consideration is up to $1.703 billion in cash, which includes $120.0 million in contingent cash consideration linked to the achievement of post-completion operational and commercial milestones and subject to other applicable purchase price adjustments. The filing states the Share Sale Deed was announced to the market on 5 February 2026. The Explanatory Memorandum accompanying the Notice of Meeting contains details on the key terms, conditions precedent to completion, and the advantages and disadvantages of the transaction.

Board Recommendation and Director Voting Intentions

The company's directors unanimously recommend that shareholders vote in favour of the Construction Materials Sale in the absence of a superior proposal. Wesley Jon Maas, identified in the filing as CEO and Managing Director, intends to vote all shares held or controlled by him in favour of the resolution. The other directors also intend to vote all shares respectively held or controlled by them in favour of the resolution, in the absence of a superior proposal. The filing states that as at the date of the Notice of Meeting, the directors are not aware of any superior proposal. The reasons for the board's recommendation are set out in Section 5.12 of the Explanatory Memorandum.

AGM Format, Location and Participation Details

The 2026 AGM will be conducted as a hybrid meeting, allowing shareholders to attend in person at Morgans Financial Limited, Level 29, 123 Eagle Street, Brisbane QLD 4000, or online via the share registry's online meeting platform. The meeting commences at 9:00am AEST. Shareholders unable to attend in person or online are encouraged to cast a direct vote prior to the AGM or appoint a proxy. The filing confirms shareholders will have a reasonable opportunity to participate in the meeting and ask questions either before or during the AGM. The filing was authorised by Candice O'Neill, Company Secretary of MGH.

Download Free Report – Explore 3 Stock Ideas & Industry Insights

Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.

All investments involve risk—consider independent advice before making any investment decisions.

View 3 Research Reports

Disclaimer:

This article (“Article”) has been prepared by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and its related bodies corporate who are authorised to provide general financial product advice. Kalkine.com.au and its associated pages are published by Kalkine.

Any information/advice provided in this article is general in nature and does not take into account your objectives, financial situation or needs. You should therefore consider whether the information is appropriate for your objectives, financial situation and needs before acting upon it.

There may be a Product Disclosure Statement, Information Memorandum or other offer document (“Offer Document”) for the securities or other financial products referred to in Kalkine articles. You should obtain a copy of the Offer Document and consider it before making any decision about whether to acquire the security or financial product.

Kalkine strongly recommends that you seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) before acting on any advice/information in this Article or on the Kalkine website. Not all investments are appropriate for all people.

The information in this Article and on Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of the information contained in its articles (including this Article), newsletters and websites. All information represents our views at the date of publication and may change without notice.

The information in this Article does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products.

Kalkine does not issue, sell or deal in any financial products.

This Article may contain information on past performance of particular investments. Please note past performance is neither an indicator nor a guarantee of future performance.

To the extent permitted by law, and excluding any dishonesty or gross negligence by Kalkine, Kalkine disclaims and excludes all liability for any direct, indirect, implied, punitive, special, incidental or other consequential loss or damage arising from the use of or reliance on this Article, the Kalkine website and any information published on the Kalkine website without any warranties or representations by Kalkine to you. To the extent the law prohibits or limits this exclusion, Kalkine limits its liability to the resupply of services.

Please also read our Terms & Conditions and Financial Services Guide for further information.

Employees and/or associates of Kalkine and its related entities may hold interests in the securities or other financial products covered in this Article or on the Kalkine website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.

Some of the images/music that may be used in the Article are copyright to their respective owner(s). Kalkine does not claim ownership of any of the pictures displayed/music used in the Article unless stated otherwise. The images/music that may be used in the Article are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.