Paladar Trading Ltd signed a binding share sale agreement to acquire Lochinvar Coal Limited from New Age Exploration Limited (ASX:NAE) on July 11, 2024. Settlement is subject to the satisfaction or waiver of the conditions precedent, which include; Paladar providing the Company and/or Lochinvar with all information necessary for the Company and/or Lochinvar to provide the Coal Authority (UK) (Authority) written notice of the Transaction and resulting change of control, and the Authority, the parties obtaining all necessary third-party, board of directors, shareholder and regulatory approvals, consents and waivers to allow the parties to lawfully complete the Transaction and any other matters set out in the SSA. Subject to satisfaction or waiver of the conditions precedent, the parties to the SSA intend to enter into a definitive royalty agreement in respect of the Royalty at completion of the SSA.