Southern Alliance Mining Ltd. (QNS) said His Majesty Yang di-Pertuan Agong Sultan Ibrahim acquired 14,326,500 shares, or about 2.25 percent of the company’s issued capital, from Managing Director Dato’ Sri Pek Kok Sam on Oct, 12 2026.

The shares were purchased through an off-market married deal at 0.425 Singapore dollars each, a premium of roughly 11.84 percent to the closing price of 0.380 Singapore dollars on the same day, bringing the total consideration to about 6.1 million Singapore dollars.

Following the transaction, Dato’ Sri Pek Kok Sam remains the controlling shareholder with a direct stake of approximately 55.74 percent and continues as Managing Director. The company said there are no changes to its board, management team or strategic direction.

The share purchase comes as Southern Alliance Mining broadens its presence in rare-earth elements. In Sep, 2025 the group bought 40 percent of MCRE Resources, which operates an ionic-clay rare-earth mine in Gerik, Perak, and it is pursuing the proposed acquisition of Paramount Synergy, linked to the Labis rare-earth project in Johor.

Southern Alliance Mining’s established operations include the Chaah iron-ore mine in Johor and ongoing gold exploration at the Tenggaroh prospect.