Vault Minerals Limited (ASX: VAU) has revealed how its shareholders chose to be paid. The update, dated 6 November 2026, covers the proposed Genesis Minerals takeover. It marks a key moment in the Vault Minerals Genesis merger. Shareholders had until 5:00 pm AWST on 4 November 2026 to decide.
Genesis Minerals Limited plans to buy every Vault share through a scheme of arrangement. The Scheme Booklet was registered with the Australian Securities and Investments Commission on 6 October 2026. Investors could pick Maximum Cash Consideration, Maximum Scrip Consideration or the Default Consideration. Each choice sets the blend of cash and New Genesis Shares they receive.
In total, 21,679 shareholders made an election. Those elections relate to 1,052,787,537 Vault shares. Together, they point to 803,285,805 New Genesis Shares and $539,574,838 cash. Vault warns that all figures are preliminary and subject to final audit after the Record Date. Totals also ignore rounding at the individual holder level.
Why Vault Minerals Shareholder Options Face a Cash Scaleback
Not everyone will get exactly what they asked for. The Cash Scaleback Mechanism will apply to holders who chose Maximum Cash Consideration. They will receive part of their payout in cash and the rest in scrip. The Scrip Scaleback Mechanism will not apply to Maximum Scrip holders. Default Consideration is not subject to either scaleback.
Vault stresses that this outcome is indicative only. Trading in Vault shares can continue until the close of trading on the Effective Date. Vault expects ASX trading to be suspended then. The final result will not be clear until after the Record Date.
Three factors could still move the final numbers:
- Changes in the size of holdings to which individual elections apply.
- New shareholders joining the register after the Election Date, who receive the Default Consideration.
- The final number of Ineligible Foreign Shareholders at the Record Date, who also receive the Default Consideration.
Ineligible Foreign Shareholders follow a different path. Their New Genesis Shares are issued to a Sale Agent for sale. They then receive the proceeds in cash, after brokerage, stamp duty, taxes and other charges. Section 4.17 of the Scheme Booklet explains the process.
Trading in Vault shares continues until the Effective Date, so final outcomes may still shift. [Liquidity Finder]
How the Vault Minerals Shareholder Options Compare on the Numbers
Vault’s table shows the average indicative consideration per Scheme Share. It uses a Genesis Reference Share Price of $6.47. Here is how each group fares:
- Default Consideration: 20,750 holders, covering 1,037,356,867 shares. They receive 0.7629 New Genesis Shares and $0.5125 cash.
- Maximum Cash Consideration: 148 holders, covering 2,700,838 shares. They receive $2.9282 cash and 0.3896 New Genesis Shares.
- Maximum Scrip Consideration: 781 holders, covering 12,729,832 shares. They receive 0.8421 New Genesis Shares.
The cash component could also change. If the Scheme is delayed, the Dividend Adjustment Mechanism may apply. Sections 4.3 and 11.4 of the Scheme Booklet explain how it works. Any valid election covers a holder’s entire registered holding at the Record Date. That is true even if the holding has changed since the Election Date.
When Key Dates Fall for Vault Minerals Shareholder Options
The next two weeks are busy. All times below are AWST:
- Proxy deadline: 9:30 am on Monday, 9 November 2026.
- Voting entitlement: 4:00 pm on Monday, 9 November 2026. Excluded Shareholders cannot vote.
- Scheme Meeting: 9:30 am on Wednesday, 11 November 2026, at Level 6, Brookfield Place Tower 2, 123 St Georges Terrace, Perth.
- Record Date: 4:00 pm on 19 November 2026, as currently expected.
Where to Find Help With Vault Minerals Shareholder Options
The Vault Board unanimously backs the Scheme. That support holds in the absence of a Vault Superior Proposal. It also depends on the Independent Expert continuing to find the Scheme in shareholders’ best interests. Each director intends to vote all Vault shares they control in favour.
This matters because the Vault Minerals Genesis merger needs shareholder approval to proceed. Investors can attend and vote, or lodge a proxy beforehand.
Also Read: NAB Capital Strength in 2026: What Its Latest Regulatory Disclosures Reveal
FAQs on Vault Minerals Shareholder Options
Q1: When’s the Vault Scheme Meeting?
A1: It kicks off at 9:30 am AWST on 11 November 2026 in Perth. To vote, you need to be on the register by 4:00 pm AWST on 9 November 2026.
Q2: How many shareholders made an election?
A2: 21,679 of them, covering 1,052,787,537 shares. The bulk, 20,750 holders, just took the Default Consideration.
Q3: What do Maximum Cash holders get?
A3: On average, the 148 holders get $2.9282 cash and 0.3896 New Genesis Shares per Scheme Share. That’s based on a Genesis Reference Share Price of $6.47.
Q4: When will the final outcome be known?
A4: Only after the Record Date, currently expected at 4:00 pm AWST on 19 November 2026. Until then, treat every figure as preliminary.
Disclaimer:
This piece is based on Vault Minerals’ ASX announcement of 6 November 2026. It’s general information, not financial, legal or tax advice. The figures are indicative and could shift before the 19 November 2026 Record Date. Scaleback outcomes may change. Before you act on Vault shares or New Genesis Shares, read the Scheme Booklet and talk to a licensed adviser.
Luke Carlino is a seasoned Copywriter, Content Strategist, and Social Media Manager specialising in Mining, Finance, and Business journalism. With more than a decade of industry experience, he brings rigorous editorial standards and commercial acuity to every project.
