Hartshead Resources NL’s takeover by ACAM GP Limited clears its final legal hurdle, triggering suspension of Hartshead shares and setting key dates for shareholder payouts.
- Scheme of arrangement legally effective after Supreme Court approval
- Trading in Hartshead shares suspended from 12 June 2026
- Record date set for 16 June 2026 to determine entitlements
- Scheme consideration payment scheduled for 23 June 2026
Legal Approval Finalises ACAM Takeover
Hartshead Resources NL (ASX:HHR) has reached a critical milestone in its acquisition by ACAM GP Limited, with the scheme of arrangement now legally effective following the Supreme Court of Western Australia’s approval. The court orders were lodged with the Australian Securities and Investments Commission (ASIC) on 12 June 2026, marking the formal completion of the judicial process required for the takeover.
Trading Halt and Key Dates Announced
In response to the scheme’s legal effectiveness, trading in Hartshead shares was suspended from the close of trading on 12 June 2026. This suspension reflects the transition period ahead of the scheme’s implementation. The company has set 5:00pm AWST on 16 June 2026 as the record date to determine shareholder entitlements to the scheme consideration, with payments scheduled for 23 June 2026.
Scheme Consideration and Shareholder Impact
While this announcement does not disclose the financial terms of the scheme, previous communications indicated a cash consideration of $0.014 per fully paid share, representing a 133% premium over the prior trading price. The board of Hartshead Resources has consistently recommended the scheme, which is expected to result in a full acquisition by ACAM GP Limited and subsequent delisting from the ASX.
Next Steps for Shareholders
Shareholders awaiting the payment of scheme consideration should note the 23 June 2026 implementation date as the expected timing for receipt of funds. The company has established a dedicated shareholder information line to address queries until this date. This takeover concludes a process that began with regulatory consents and shareholder approvals earlier in 2026, culminating in the legal effectiveness announced today.
Bottom Line?
With legal clearance secured and trading suspended, Hartshead’s transition into ACAM ownership now hinges on the upcoming payment date and delisting process.
Questions in the middle?
- How will the acquisition affect Hartshead’s existing mining projects and operations?
- What are ACAM GP Limited’s strategic plans post-acquisition for Hartshead’s assets?
- Could market conditions influence the timing or terms of the scheme consideration payment?