Matsa Resources Second Creditors Meeting for Subsidiaries Adjourned to 12 November 2026

Aakashdeep

09 November 2026 03:33 PM AEDT

Matsa Resources Second Creditors Meeting for Subsidiaries Adjourned to 12 November 2026

Image Source: Krish Capital Pty Ltd

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Matsa Resources Limited (ASX:MAT) has disclosed that the Second Meeting of Creditors convened to consider a proposed Deed of Company Arrangement for its two wholly owned subsidiaries, Matsa Gold Pty Ltd and Devon Gold Mining Pty Ltd, has been adjourned from 9 November 2026 to Thursday, 12 November 2026.

Key Points

The Second Meeting of Creditors for Matsa Gold Pty Ltd and Devon Gold Mining Pty Ltd was adjourned to 12 November 2026 after commencing on 9 November 2026.
Administrators Richard Tucker and Jared Palandri of KordaMentha adjourned the meeting to evaluate an alternative deed of company arrangement proposal received as the meeting commenced.
A Supplementary Report by Administrators released on 5 November 2026 reaffirmed the earlier recommendation that creditors vote in favour of the Proposed DOCA.
The Administrators are expected to issue a further Supplementary Report early the following week ahead of the adjourned meeting.

Adjournment of Second Creditors Meeting

The Second Meeting of Creditors held on 9 November 2026 was adjourned after the Administrators of the Matsa Subsidiaries elected to pause proceedings. The adjournment followed the receipt of an alternative deed of company arrangement proposal at the commencement of the meeting. The Administrators, Richard Tucker and Jared Palandri of KordaMentha, advised that additional time was required to evaluate this alternative proposal before creditors could be asked to vote. The adjourned meeting is scheduled to reconvene on Thursday, 12 November 2026.

Supplementary Administrator Report and DOCA Recommendation

Prior to the meeting, on 5 November 2026, the Administrators released a Supplementary Report to creditors of the Matsa Subsidiaries. According to the filing, that report confirmed the Administrators' earlier recommendation that creditors vote in favour of the Proposed DOCA put forward by Matsa Resources. The Administrators are expected to issue a further Supplementary Report early the following week in advance of the adjourned Second Meeting of Creditors scheduled for 12 November 2026.

Status of the Matsa Subsidiaries Under Administration

Both Matsa Gold Pty Ltd and Devon Gold Mining Pty Ltd are wholly owned subsidiaries of Matsa Resources Limited and are each subject to receivership, management appointments, and administration. The proposed Deed of Company Arrangement under consideration relates specifically to these two entities. Matsa Resources stated that it will advise shareholders on the status and progress of this matter through further company disclosures as the process advances. The key terms and conditions of the Proposed DOCA were disclosed in Matsa's earlier filing dated 30 October 2026.

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