Hammer Metals (ASX:HMX) received approval from the Australian Securities and Investments Commission (ASIC) to defer its 2026 annual general meeting (AGM) to Jan. 31, 2027, from Nov. 30, allowing time for the proposed scheme of arrangement with Austral Resources Australia (ASX:AR1) to be resolved, according to an Australian bourse filing on Thursday after market hours.

If the scheme is implemented by Jan. 31, 2027, the company will become a wholly owned subsidiary of Austral and will no longer be required to hold an AGM, per the filing.

The company's board unanimously recommends that shareholders vote in favor of the scheme, provided there is no superior proposal, and the independent expert continues to consider it to be in shareholders' best interests, the filing added.