MAC Copper Limited (NYSE: MTAL; ASX: MAC) has set a new landmark after the Royal Court of Jersey approved its takeover by Harmony Gold (JSE: HAR, NYSE: HMY). This ruling is crucial for the acquisition of MAC Copper by Harmony under Jersey regulations to be finalised.
Court approval finalises Harmony Gold’s acquisition of MAC Copper Limited
What Does The Court’s Approval Mean For Shareholders?
The Royal Court of Jersey has given its official approval to the proposed scheme of arrangement, thereby sealing the fate of the MAC Copper shareholders’ vote favoring the transaction and putting Harmony Gold (Australia) Pty Ltd’s acquisition of the copper mining company into operation.
Harmony Gold (Australia) Pty Ltd, in turn, is a fully-owned subsidiary of Harmony Gold Mining Company Limited. As per the sanctioned arrangement, Harmony will take over the entire MAC Copper Limited.
After the court’s sanction, the transaction moved to the last legal stage and got the green light from the shareholders and regulators. The scheme will come into force once the court orders are filed with the Jersey Registrar of Companies.
When Will MAC Copper Trading End?
Trading in MAC Copper shares will soon be over as a result of the Harmony Gold MAC Copper deal. The company intends to submit the court’s orders on 10 October 2025. This date represents the legal validity of the scheme.
Subsequently, MAC Copper CDIs will not be traded on ASX, and MAC shares will stop trading on NYSE at the end of trading on 10 October 2025. These actions finalize the process of delisting and the acquisition.
MAC Copper Limited Share Trend
MAC Copper Harmony Acquisition Timeline Announced
The firm has given a tentative schedule that shows the forthcoming steps. The MAC CDIs will be suspended by the ASX prior to the start of the trading on 13 October 2025. The NYSE will begin the process of delisting MAC shares on 14 October 2025 and will be completed by 24 October 2025.
Also, the scheme record times have been confirmed, which are 5:00 pm New York time and 7:00 pm Sydney time on 17 October 2025. The payments for the consideration will be made between 27 and 31 October 2025, based on the type of stock ownership.
How Will Shareholders Receive Their Consideration?
With the approval from MAC Copper shareholders, a good thing happened for eligible investors who will very soon be getting their payments. The payments related to the shares that were kept within the Depository Trust Company (DTC) will be started by 27 October 2025. For the shares that were held outside DTC and MAC CDIs, the payment will be done on 31 October 2025.
The MAC Copper company has promised to investors that the procedure will be a clear and safe one. In its scheme circular, the firm has disclosed all important information so that the shareholders are aware of the entire process and time taken.
Why Is Harmony Gold Acquiring MAC Copper?
The Harmony Gold MAC Copper transaction fits right into Harmony’s more extensive plan to go for gold and silver less, but still be in the market for main energy transition metals. The deal makes Harmony’s copper assets even stronger, which are nothing but a big help to the development of renewable energy.
Harmony, being a dual-listed company with the MAC Copper on both the ASX and NYSE, gives Harmony a better chance to attract international investors. Not only that, the deal is a trait that the company is taking over and moving on to new territories, yet still keeping a strong operational base.
Harmony Gold Mining Company Limited Share Trend
MAC Copper’s Future Under Harmony’s Ownership
After the acquisition, Harmony Gold will be taking over MAC Copper in its entirety, and as such, the listing categories will no longer exist, and there will be no trading history left for MAC Copper.
The management of Harmony is determined to keep operations running smoothly while merging MAC Copper’s projects with its global portfolio. The acquisition is then perceived to be beneficial for the shareholder’s long-term value and the company’s asset base at large.
According to the industry experts, the merger of the two companies is a move that actually conglomerated Harmony in the copper market and not only opened up the possibilities of future growth and diversification.
Also Read: Metal Bank Hastings Gold Acquisition Expands WA Gold Projects
FAQs
- When will the trading of MAC Copper stop?
The trading on the ASX and NYSE will stop at the end of trading on 10 October 2025.
- When will MAC Copper’s removal from the exchange take place?
The MAC CDIs will be suspended before trading opens on 13 October 2025, and the NYSE delisting will be completed by 24 October 2025.
- When can the shareholders expect the payments?
The payments for the shares held by DTC will start on 27 October 2025, and the rest will be finished by 31 October 2025.
