Jersey court orders MAC shareholders meetings for Harmony acquisition vote

MAC Copper Limited (NYSE: MTAL) announced that the Royal Court of Jersey ordered shareholder meetings to consider Harmony Gold's proposed acquisition of the copper company through a scheme of arrangement.

The court approved meetings for MAC shareholders to vote on the transaction, which would see Harmony Gold (Australia) Pty Ltd, a subsidiary of Harmony Gold Mining Company Limited (NYSE: HMY), acquire 100% of MAC's issued share capital.

Two meetings will be held on August 29, 2025, at 44 Esplanade, St Helier, Jersey. The Court Meeting begins at 12:30 pm Jersey time to consider the scheme, followed by a General Meeting at 1:00 pm to approve related matters.

MAC's board of directors unanimously recommends shareholders vote in favor of the scheme. Directors holding 2.44% of MAC shares intend to vote in support of the transaction, absent a superior proposal.

The court approved dispatch of a scheme circular containing full transaction details. The circular will be sent to shareholders on or around August 4, 2025, with hard copies mailed unless electronic delivery was elected.

Shareholders recorded at 4:00 pm New York time on July 29, 2025, will be entitled to vote at both meetings. Proxy forms must be submitted by August 27, 2025.

MAC postponed its Annual General Meeting originally scheduled for August 29 to allow shareholders to focus on the acquisition-related meetings. The company will provide updates on the annual meeting timing.

The information is based on MAC's press release statement.

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