Ramelius Issues 0.6957 Shares Plus $0.25 Cash per Spartan Share in Acquisition
Ramelius Resources has completed its acquisition of Spartan Resources through a scheme of arrangement, leading to Spartan's imminent delisting from the ASX. Shareholders received a mix of Ramelius shares and cash as part of the transaction.
- Scheme of arrangement completed between Spartan Resources and Ramelius Resources
- Spartan shareholders received 0.6957 Ramelius shares plus $0.25 cash per Spartan share
- Trading of Spartan shares suspended on 22 July 2025
- Spartan to be delisted from ASX effective 1 August 2025
- Ineligible shareholders compensated via cash proceeds from sale of entitlements
Completion of Acquisition
Spartan Resources Limited has officially been acquired by Ramelius Resources Limited through a scheme of arrangement that was implemented on 31 July 2025. Under the terms of the deal, Spartan shareholders received 0.6957 Ramelius shares plus a cash payment of $0.25 for each Spartan share they held as of the record date on 24 July 2025. This transaction marks a significant consolidation in the Australian gold mining sector.
Shareholder Impact and Consideration
Eligible Spartan shareholders had their shares transferred and were issued the agreed consideration in accordance with the scheme's terms. For shareholders deemed ineligible or holding unmarketable parcels, Ramelius arranged for the sale of their entitlements, with net proceeds paid out accordingly. This approach ensured all stakeholders received fair value despite eligibility constraints.
Market and Listing Changes
Trading of Spartan shares was suspended on 22 July 2025, ahead of the scheme's implementation. Following the completion of the acquisition, Spartan Resources will be removed from the official ASX list effective from the close of trading on 1 August 2025. This delisting reflects the full integration of Spartan into Ramelius and the end of Spartan's independent market presence.
Strategic Implications
The acquisition strengthens Ramelius's position in the gold mining industry, potentially enhancing operational scale and resource base. While the announcement does not detail post-acquisition integration plans, market watchers will be keen to observe how Ramelius leverages Spartan’s assets and expertise moving forward. The consolidation also signals ongoing sector dynamics where mid-tier miners seek growth through strategic acquisitions.
Looking Ahead
With the scheme now fully implemented, attention turns to Ramelius’s next steps in integrating Spartan’s operations and realising synergies. Investors will be watching Ramelius’s share performance closely as the market digests the acquisition’s impact. Meanwhile, Spartan shareholders have transitioned to new ownership, closing a chapter on Spartan’s independent listing.
Bottom Line?
Ramelius’s acquisition of Spartan reshapes the ASX gold mining landscape, but integration challenges lie ahead.
Questions in the middle?
- How will Ramelius integrate Spartan’s assets and operations post-acquisition?
- What impact will the acquisition have on Ramelius’s financial performance and share price?
- Are there further consolidation moves expected in the mid-tier gold mining sector?
