Hartshead Scheme to Pay 1.4 Cents per Share After Court Approval
The Supreme Court of Western Australia has approved ACAM GP Limited’s full acquisition of Hartshead Resources via a scheme of arrangement, setting the stage for the company’s ASX suspension and shareholder payouts next month.
- Supreme Court approves ACAM acquisition scheme
- Scheme to become legally effective on 12 June 2026
- Hartshead shares suspended from ASX trading post-approval
- Shareholders to receive $0.014 per fully paid share
- Scheme implementation and payment expected 23 June 2026
Court Approval Clears Path for Acquisition
Hartshead Resources NL (ASX:HHR) has secured a critical green light from the Supreme Court of Western Australia for the scheme of arrangement under which ACAM GP Limited will acquire 100% of its issued shares. This ruling effectively locks in the terms of the takeover following shareholder approval earlier in June, moving the deal closer to completion.
The court’s endorsement means the scheme will become legally effective when the orders are lodged with ASIC on 12 June 2026. From that moment, Hartshead shareholders will be bound by the transaction terms, and the company’s shares will be suspended from trading on the ASX at the close of that day.
Shareholder Returns Set at 1.4 Cents per Fully Paid Share
Under the scheme, eligible shareholders will receive a cash payment of $0.014 for each fully paid ordinary share held as at the record date of 16 June 2026. Partly paid shares will attract a proportionally smaller amount of $0.0007 per share. Payments are scheduled for 23 June 2026, marking the formal implementation of the scheme.
These figures align with the previously announced offer that represented a significant premium to Hartshead’s trading price, reflecting ACAM’s commitment to securing full ownership. The simplicity of the all-cash consideration provides certainty to shareholders amid ongoing sector volatility.
Next Steps and Market Impact
Following the scheme becoming effective, Hartshead will be removed from the ASX, ending public trading in its shares. The suspension and delisting are standard outcomes for a successful scheme of arrangement and signal a new chapter under ACAM’s ownership.
The acquisition consolidates ACAM’s position in the mining sector, although the filing offers no details on post-acquisition plans or operational changes. Market participants will now watch how ACAM integrates Hartshead’s assets and whether any strategic shifts emerge.
Christopher Lewis, Hartshead’s CEO, remains the primary contact for shareholder inquiries during the transition period, underscoring the company’s efforts to maintain communication until scheme completion.
Bottom Line?
With court approval secured, the focus shifts to scheme implementation and the imminent ASX suspension, leaving shareholders to await their cash returns and the next moves from ACAM.
Questions in the middle?
- Will ACAM pursue strategic changes post-acquisition?
- How will the ASX suspension affect remaining shareholder liquidity?
- What impact will this deal have on Hartshead’s ongoing projects?
