Spartan Shareholders Back Ramelius Deal with Over 90% Approval
Spartan Resources shareholders have overwhelmingly approved Ramelius Resources’ proposed acquisition scheme, clearing a major hurdle toward the deal’s completion. The transaction now awaits final court approval before implementation.
- Over 90% shareholder vote in favor of acquisition scheme
- Scheme involves $0.25 cash plus 0.6957 Ramelius shares per Spartan share
- Court approval scheduled for 21 July 2025
- Scheme effective date expected 22 July 2025
- Implementation anticipated by 31 July 2025 with Spartan shares suspended
Strong Shareholder Support
Spartan Resources Limited has announced a decisive vote in favor of its proposed acquisition by Ramelius Resources Limited. At the recent scheme meeting, an impressive 90.3% of eligible Spartan shareholders voted to approve the transaction, with 96.3% of votes cast supporting the scheme resolution. This level of endorsement signals strong shareholder confidence in the terms offered by Ramelius and the strategic rationale behind the deal.
Details of the Transaction
The acquisition offer comprises a combination of cash and shares – Spartan shareholders will receive $0.25 in cash plus 0.6957 new Ramelius shares for each Spartan share held. This mix aims to provide immediate value while allowing shareholders to participate in the future growth prospects of the combined entity. The scheme of arrangement is structured to facilitate a smooth transfer of ownership, subject to regulatory and court approvals.
Next Steps and Timeline
The transaction now moves to the next critical phase with a scheduled hearing before the Supreme Court of Western Australia on 21 July 2025. If the court grants approval, the scheme will become effective the following day, triggering the suspension of Spartan shares from ASX trading. The formal implementation of the scheme is expected by 31 July 2025, at which point Spartan shareholders on record will receive the agreed consideration and ownership will transfer to Ramelius.
Market and Strategic Implications
This acquisition represents a significant consolidation in the gold mining sector, with Ramelius expanding its asset base and operational footprint. For Spartan shareholders, the deal offers liquidity and exposure to a larger, potentially more diversified mining company. However, the integration phase post-acquisition will be closely watched by investors, as it will determine the ultimate value delivered from the transaction.
Looking Ahead
While shareholder approval is a major milestone, the final court sanction remains a key condition precedent. Market participants will be attentive to any developments or delays in the court process, as well as Ramelius’ strategic plans for Spartan’s assets once the deal is completed.
Bottom Line?
With shareholder backing secured, all eyes now turn to the court’s final say and the unfolding integration of Spartan into Ramelius.
Questions in the middle?
- Will the Supreme Court approve the scheme without conditions or delays?
- How will Ramelius integrate Spartan’s assets and operations post-acquisition?
- What impact will the transaction have on Ramelius’ share price and financial outlook?
