Magnetite Mines accelerates Share Purchase Plan closing date

Magnetite Mines Limited (ASX: MGT) has moved forward the closing date for its Share Purchase Plan (SPP). The new deadline for applications and payments is Friday, 23 October 2026, at 5:00 pm Sydney time, which is one day earlier than the previously announced date.

Under the terms of the plan, eligible shareholders can subscribe for up to A$30,000 in new shares at a discount to the market price without incurring brokerage or transaction costs. If approved at the upcoming Annual General Meeting, participants will also receive one free attaching option for every new share issued. These options will have an exercise price set at a 25% premium to the SPP issue price and are scheduled to expire on 31 December 2029.

The company has released an amended indicative timetable. Following the new closing date, a completion announcement is expected on 28 October 2026, with share allotment anticipated for 30 October 2026. Trading of the new shares on the ASX is projected to commence on 2 November 2026.