Under the proposed scheme of arrangement, Malabar shareholders would receive 0.500 New Hope shares for each Malabar share. New Hope said this implied a value of $2.92 per Malabar share, based on its 16 October 2026 closing price, and an equity value for Malabar of about $1.8 billion on a fully diluted basis.
New Hope currently has a relevant interest of about 26% in Malabar. Malabar owns the Maxwell Underground Mine, where longwall production commenced in April 2026, according to the announcement.
The scheme requires approval by the requisite Malabar shareholder majorities, court approvals, customary regulatory approvals and Japan Fair Trade Commission approval. The companies indicated an implementation date of February or March 2027, while noting that all dates are indicative and subject to change, approvals and court availability.
Source: Download NHC official ASX announcement, 2026-10-19.
Map from New Hope and Malabar's ASX announcement dated 19 October 2026.