PNX Metals scheme implementation announcement

PNX Metals Limited (ASX:PNX) has confirmed the implementation of the scheme of arrangement, resulting in Patronus Resources Limited acquiring all issued fully paid ordinary shares in PNX. The scheme consideration involves the issuance of one Patronus share for every thirteen PNX shares to eligible PNX shareholders. The changes in directorship and company secretary have also been announced, with new appointments and resignations taking effect from 11 September 2024. PNX has also relocated its registered office to West Perth, WA.

Executive Commentary on Scheme Implementation

The implementation of the scheme marks a significant milestone for PNX Metals. We believe that this arrangement with Patronus Resources will provide enhanced opportunities for both companies and their shareholders. The changes in directorship and company secretary are part of the transition process, and we are confident in the new appointments' abilities to contribute to the company's future endeavors. The relocation of our registered office aligns with our strategic objectives and operational focus.

Summary of PNX Metals Scheme Implementation

PNX Metals Limited (ASX:PNX) has successfully implemented the scheme of arrangement, leading to the acquisition of its shares by Patronus Resources Limited. The scheme consideration involves the issuance of one Patronus share for every thirteen PNX shares to eligible PNX shareholders. The changes in directorship and company secretary, along with the relocation of the registered office, reflect the company's commitment to the transition process. PNX's application to be removed from the official list of the ASX will be made shortly. The company encourages inquiries regarding the scheme and provides contact information for further assistance. The implementation of the scheme signifies a strategic move for PNX Metals and sets the stage for its future corporate developments and initiatives.