Aurumin Limited shareholders and optionholders have overwhelmingly approved a scheme of arrangement for Brightstar Resources to acquire 100% of Aurumin shares, setting the stage for imminent court approval and market suspension.
- 98.17% of Aurumin shareholders voted in favor of the share scheme
- 100% of Aurumin optionholders approved the option scheme
- Final court approval scheduled for 19 November 2025
- Aurumin shares expected to be suspended from ASX trading on 21 November 2025
- Scheme implementation anticipated by 2 December 2025
Strong Shareholder Support
Aurumin Limited (ASX – AUN) has taken a decisive step towards its acquisition by Brightstar Resources Limited (ASX – BTR), with shareholders and optionholders overwhelmingly endorsing the proposed schemes of arrangement. At meetings held on 14 November 2025, 98.17% of eligible shareholders and 100% of optionholders voted in favor, signaling broad confidence in the transaction.
Next Steps in the Acquisition Process
Following this strong mandate, Aurumin now awaits the Supreme Court of Western Australia's approval, scheduled for 19 November 2025. If granted, the scheme will become effective on 21 November, triggering the suspension of Aurumin shares from ASX trading. The formal implementation of the acquisition is expected by 2 December 2025, after which Aurumin will be delisted from the ASX.
Implications for Aurumin and Brightstar
The acquisition will see Brightstar Resources take full ownership of Aurumin, with all Aurumin options cancelled and replaced by new Brightstar options. This consolidation is likely aimed at streamlining operations and enhancing Brightstar’s position in the mineral exploration sector. While financial terms remain undisclosed, the near-unanimous shareholder support suggests confidence in the strategic rationale behind the deal.
Market and Regulatory Considerations
The transaction underscores the importance of regulatory and shareholder approvals in major corporate restructures. Aurumin’s compliance with ASX Listing Rules and the Corporations Act 2001 (Cth) has been meticulous, with detailed disclosures and proxy voting results provided. Investors should note the indicative timetable remains subject to change, and the market will be watching closely for the court’s final decision.
Looking Ahead
As the acquisition moves towards completion, attention will turn to Brightstar’s integration plans and how the combined entity will leverage Aurumin’s assets. The coming weeks will be critical in shaping the future trajectory of both companies within the competitive mining sector.
Bottom Line?
With shareholder approval secured, all eyes now turn to the court’s verdict and the imminent transformation of Aurumin’s market presence.
Questions in the middle?
- Will the Supreme Court approve the scheme without modifications?
- How will Brightstar integrate Aurumin’s assets post-acquisition?
- What impact will the delisting have on Aurumin’s existing shareholders and optionholders?