Venus Metals ceases substantial holding in Rox Resources, L1 Capital boosts stake

Venus Metals Corporation Limited (VMC) has ceased to be a substantial holder in Rox Resources Limited (ASX:RXL), effective December 23, 2025. This change follows a series of dilution events due to Rox's ordinary share issues from option and performance rights exercises, a placement, and a share purchase plan between November 21, 2025, and December 23, 2025. VMC's relevant interest declined from 50,168,708 ordinary shares to 50,425,362 ordinary shares, while the issued capital of Rox Resources significantly increased.

Concurrently, L1 Capital Pty Ltd became a substantial holder in Rox Resources Limited on December 22, 2025, increasing its voting power to 12.89% from a previous notice on December 1, 2025. L1 Capital Pty Ltd acquired an additional 115,176,960 FPO shares through on-market purchases and a placement between December 2, 2025, and December 24, 2025, with total consideration of approximately AUD 40,869,183.62.

As of December 24, 2025, L1 Capital Pty Ltd holds 177,778,189 FPO shares via Morgan Stanley & Co. International PLC and 1,167,470 FPO shares via Goldman Sachs International, acting as discretionary investment managers and advisers. The total issued capital of Rox Resources Limited is now 1,388,258,440 shares.