Latest news with #KevinMalaxos
Yahoo
09-05-2025
- Business
- Yahoo
SSH Group to acquire Total Contract Mining
Australian mining services provider SSH Group has entered into a definitive agreement to acquire Total Alliance (Total Contract Mining) for a total cash consideration of A$60,000 ($38,786.8) to bolster its mining services vertical. The agreement follows a non-binding term sheet signed for the acquisition in March 2025. The acquisition is contingent upon the fulfilment of several conditions including key leadership appointments and the establishment of consulting agreements with associates of TCM. The settlement, expected by 16 May 2025, will see Samuel Baker from TCM appointed as chief operating officer of SSH's mining services division, SSH Mining, and Kevin Malaxos joining as a non-executive director of SSH. Additionally, two TCM associates will be engaged as mining consultants within the SSH Group. These strategic appointments are expected to enhance SSH Group's leadership and contribute to its operational excellence and strategic growth. As part of the deal, SSH will issue seven million performance rights to Baker, Malaxos and the TCM consultants. These rights will convert into shares upon SSH Mining achieving net profit before tax of A$4m within an 18-month period, provided the TCM personnel remain with the company. SSH Group managing director Daniel Cowley-Cooper said: "The acquisition of Total Contract Mining represents a significant strategic step forward for SSH Group and its mining services vertical SSH Mining. The transaction and appointments not only strengthen our operational capacity but bring in a team of highly capable professionals with deep industry knowledge and a proven track record in hard rock mining across Western Australia. 'We are excited to welcome Mr Sam Baker and Mr Kevin Malaxos into senior leadership roles. Their combined experience and commitment to performance-aligned outcomes will enhance our ability to deliver value to our clients and shareholders. This agreement reflects our confidence in the SSH Group and establishes a greater presence in Australia's Mining and Civil Industries.' "SSH Group to acquire Total Contract Mining" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
09-05-2025
- Business
- Yahoo
SSH Group to acquire Total Contract Mining
Australian mining services provider SSH Group has entered into a definitive agreement to acquire Total Alliance (Total Contract Mining) for a total cash consideration of A$60,000 ($38,786.8) to bolster its mining services vertical. The agreement follows a non-binding term sheet signed for the acquisition in March 2025. The acquisition is contingent upon the fulfilment of several conditions including key leadership appointments and the establishment of consulting agreements with associates of TCM. The settlement, expected by 16 May 2025, will see Samuel Baker from TCM appointed as chief operating officer of SSH's mining services division, SSH Mining, and Kevin Malaxos joining as a non-executive director of SSH. Additionally, two TCM associates will be engaged as mining consultants within the SSH Group. These strategic appointments are expected to enhance SSH Group's leadership and contribute to its operational excellence and strategic growth. As part of the deal, SSH will issue seven million performance rights to Baker, Malaxos and the TCM consultants. These rights will convert into shares upon SSH Mining achieving net profit before tax of A$4m within an 18-month period, provided the TCM personnel remain with the company. SSH Group managing director Daniel Cowley-Cooper said: "The acquisition of Total Contract Mining represents a significant strategic step forward for SSH Group and its mining services vertical SSH Mining. The transaction and appointments not only strengthen our operational capacity but bring in a team of highly capable professionals with deep industry knowledge and a proven track record in hard rock mining across Western Australia. 'We are excited to welcome Mr Sam Baker and Mr Kevin Malaxos into senior leadership roles. Their combined experience and commitment to performance-aligned outcomes will enhance our ability to deliver value to our clients and shareholders. This agreement reflects our confidence in the SSH Group and establishes a greater presence in Australia's Mining and Civil Industries.' "SSH Group to acquire Total Contract Mining" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
