Kinetic Development Group (01277) announced that on August 13, 2026, it entered into a share subscription agreement with Moelis (MC Mining). The company, an indirect non-wholly owned subsidiary of Kinetic Development Group, is duly incorporated and existing under Australian law, with its securities listed on the JSE and ASX (ASX: MCM).

Under the terms and conditions of the share subscription agreement, Kinetic Development Group has agreed to subscribe for and purchase, and Moelis has agreed to issue and sell to the company: 38,295,836 shares (first tranche shares) at a price of $0.2089 per share, subject to adjustment under ASX listing rules for any share splits, consolidations, bonus issues, or rights issues (adjustment events) occurring after the agreement date, with a total subscription price of $8 million for the first tranche; and 38,295,836 shares (second tranche shares) at a price of $0.2089 per share, also subject to adjustment for adjustment events, with a total subscription price of $8 million.

To provide Moelis with funding for its business operations and working capital needs before the first tranche closing, on the same day, Kinetic Development Group and Moelis entered into a bridge loan agreement. Moelis requested, and Kinetic Development Group agreed, to lend a total of $8 million (bridge loan) to Moelis. All outstanding amounts of the bridge loan (excluding accrued interest, which must be paid in cash by Moelis) will be used to offset the first tranche purchase price payable by Moelis under the share subscription agreement at the first tranche closing. At the second tranche closing, Kinetic Development Group must pay the second tranche purchase price in cash via wire transfer of immediately available funds to a bank account designated in writing by Moelis.