Kalia Limited (ASX:KLH) agreed to acquire remaining 27.71% stake in Kalia Holdings Pty Ltd. from Global Resources Investment Trust Plc (LSE:GRIT) (GRIT) for AUD 5.8 million on February 26, 2018. Kalia Limited entered into a formal share sale agreement with Global Resources Investment Trust Plc on March 29, 2018. As per the agreement, Kalia Limited shall issue 480 million shares to Global Resources Investment Trust Plc as consideration. Post completion, Kalia Limited will hold 100% stake in Kalia Holdings Pty Ltd and GRIT is expected to hold 21.28% stake in Kalia Limited. GRIT will have the right to nominate a non-executive Directorship on the Board of Kalia Limited.

The transaction is subject to certain conditions including signing of formal agreement; Kalia Limited's shareholders' approval and regulatory approvals. The condition of signing of agreement must be satisfied on before March 14, 2018 while condition related to shareholders approval must be fulfill on or before April 14, 2018. As of April 11, 2018, the extra ordinary general meeting will be held on May 11, 2018. On May 11, 2018, the shareholders of Kalia Limited approved the transaction. An AUD 3 million loan facility to be made available on completion of transaction to advance exploration activities. Sherif Andrawes, Adam Myers, Stuart Moore and Georgia Sullivan of BDO acted as accountant to Kalia Limited (ASX:KLH).

Kalia Limited (ASX:KLH) completed the acquisition of remaining 27.71% stake in Kalia Holdings Pty Ltd. from Global Resources Investment Trust Plc (LSE:GRIT) on May 16, 2018.