The struggling company confirmed on Friday that it was in talks with the Don Voelte-headed company. Voelte previously served as the chairman of Nexus but left earlier this year.
SGH is offering A$117.6 million ($108.7 million) for all shares in the company.
The implementation agreement has a number of regulatory and other conditions in addition to shareholder approval.
Nexus has also entered into a second agreement through its subsidiary Nexus Energy VicP54 to enter into a bridge facility agreement for A$40 million as part of a four-month cash advance to be provided by SGH.
The
