MAC Copper sets closing timeline for Harmony acquisition scheme

MAC Copper Limited (NYSE: MTAL) announced the proposed closing timetable for Harmony Gold's acquisition of the company through a Jersey law scheme of arrangement.

The transaction requires court approval at a sanction hearing scheduled for October 9, 2025, at 10:00 am Jersey time. Subject to court orders, MAC outlined key dates for the acquisition process.

Share conversions between MAC's CHESS Depositary Interests and ordinary shares will cease on October 9, with different cutoff times for Sydney and New York markets. The scheme becomes effective October 10, 2025, which will also mark the last trading day for MAC shares on both the ASX and NYSE.

Trading suspension begins October 13 on the ASX, followed by initiation of NYSE delisting procedures October 14. The scheme record time is set for October 17, with complete NYSE delisting scheduled for October 24, which is also the implementation date.

Payment schedules vary by shareholder type and location. Shareholders holding through the Depository Trust Company will receive payments October 27, while other shareholders and CDI holders will receive consideration by October 31. MAC will be delisted from the ASX on November 3, 2025.

Harmony Gold (Australia) Pty Ltd, a subsidiary of Harmony Gold Mining Company Limited (JSE: HAR, NYSE: HMY), is acquiring 100% of MAC's issued share capital. The acquisition details were previously outlined in MAC's scheme circular released July 31, 2025.

Payment methods include electronic transfers for qualifying accounts and checks dispatched to registered addresses, with currency varying by jurisdiction and shareholder preference.

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