Ann: Trading Halt-GXY.AX, page-473

GMM was a "potential corporate control transaction"

"Unlike other jurisdictions (such as the United States), there is no practice in Australia to effect control transactions via a true merger which results in the target company being subsumed into the bidder company and the target company ceasing to exist. Control transactions in Australia most commonly involve a bidder acquiring all (or at least a majority) of the voting securities in the target, and the target becoming a subsidiary of the bidder"
https://www.allens.com.au/pubs/pdf/ma/takeovers-handbook.pdf

We can only presume this is a "friendly" move with a plan that was agreed to between Fotios and Tse.