Rey Resources (ASX:REY) acknowledged a substantial holder notice from Vigorous Resources, noting that it acquired a 94.238% stake in the firm and that Vigorous provided notice that it began the compulsory acquisition process, according to a Friday Australian bourse filing.

Vigorous provided notice that it began the compulsory acquisition process. The ASX will suspend quotation of Rey's shares five business days after the date of the notice, Aug. 15, and will then remove Rey from the official list of the ASX at the close of trading on a date the bourse decides.

Rey shareholders who have not accepted the offer will still be able to do so on the closing date on Aug. 11.