De Grey Mining Ltd has been acquired in its entirety by Northern Star Resources Ltd through a scheme of arrangement under Australian corporate law. As part of the transaction, all current holders of De Grey Mining Ltd shares on the record date received 0.119 New Northern Star Resources Ltd shares for every share they held. In cases where certain shareholders were not eligible for the direct share exchange, the corresponding New Northern Star shares were transferred to a Sale Agent, who will then sell these shares and return the proceeds to the affected shareholders in line with the established process. In addition to the share exchange, De Grey Mining Ltd is set to be delisted from the Australian Securities Exchange, with an application to terminate its quotation expected to take effect by the close of trading on May 6, 2025. This move marks the final phase in the takeover, after which De Grey Mining Ltd will no longer appear on the Official List of the exchange. The announcement also highlighted that a non-binding draft class ruling from the Australian Taxation Office suggests that certain shareholders may benefit from a capital gains tax scrip-for-scrip rollover relief when receiving their New Northern Star Resources Ltd shares. However, shareholders are advised to await the final tax ruling, which is anticipated after the announcement date, to understand its definitive impact. Investor sentiment could view the acquisition as bullish due to the potential tax benefits and the possibility of added value through Northern Star Resources Ltd’s stronger market presence and prospects. The share conversion also promises an opportunity for existing shareholders to pivot into a larger, potentially more liquid entity that may offer improved growth prospects. Conversely, a bearish perspective might focus on the uncertainty surrounding the final tax ruling and the implications of De Grey Mining Ltd’s delisting, which could reduce trading liquidity and limit flexibility for investors. Overall, the transaction represents a significant shift for shareholders, ushering in both potential rewards and notable uncertainties.