Rex International Holding (5WH) said its shareholders voted overwhelmingly on Jan, 28 2026 to approve the proposed spin-off of its commercial drone business through a reverse takeover that will list Xer Tech AB on the Sweden Spotlight Stock Market.

The sole ordinary resolution at the extraordinary general meeting (EGM) won 99.96% of the 625.2 million votes cast, paving the way for Rex to proceed with the transaction and related steps.

Under the plan, the drone operation—developed over the past three years—will be injected into Xer Tech AB at a valuation of about US$15 million, above the roughly US$12 million Rex has invested to date. After completion, Rex will own 50.4% of the newly listed entity, which will remain its subsidiary.

Management told shareholders that the drone unit, equipped with hybrid long-endurance aircraft carrying up to 5 kg payloads for sectors such as surveillance, mining, power-line inspection and methane detection, has reached commercial readiness. The listing will allow the business to fund its own growth, removing the need for further cash support from the parent company.

During the meeting, directors also clarified that a separate placement of 40 million new shares with 40 million free warrants announced on Jan, 27 2026 was undertaken to strengthen the group’s cash position ahead of a blackout period and was not connected to the spin-off resolution.

The EGM concluded at 3:38 p.m. with no further business.