Hartshead Resources NL has completed its takeover by ACAM GP Limited, delivering a cash payout to shareholders and triggering board resignations and new appointments ahead of imminent ASX delisting.
- ACAM acquires 100% of Hartshead shares via scheme
- Shareholders receive $0.014 per fully paid share
- Two directors resign, two new directors appointed
- Hartshead shares suspended since 12 June, delisting set for 24 June
Scheme of Arrangement Finalised and Cash Consideration Paid
Hartshead Resources NL (ASX:HHR) has officially changed hands as ACAM GP Limited, acting as general partner of ACAM LP, completed its acquisition of 100% of Hartshead’s issued shares on 23 June 2026. Eligible shareholders received a cash payment of 1.4 cents per fully paid share and 0.07 cents per partly paid share, based on holdings recorded at 5:00pm AWST on 16 June. This transaction marks the culmination of a scheme of arrangement first proposed months ago and endorsed by both the Hartshead board and its shareholders.
Board Reshuffle Signals New Direction
Coinciding with the scheme’s implementation, Hartshead’s board saw immediate turnover. Founding directors Nathan Lude and Bevan Tarratt stepped down, making way for Michael Allen and Matthew Foy. These appointments suggest a fresh strategic approach under ACAM’s stewardship, although the filing provides no detail on the new board’s priorities or plans.
ASX Suspension and Imminent Delisting
Trading in Hartshead shares was suspended on 12 June 2026, shortly after the scheme became legally effective. The company has now applied for removal from the official ASX list, with delisting expected to take effect after market close on 24 June. This transition removes Hartshead from public trading, consolidating ownership under ACAM and ending the company’s independent listing.
What Comes Next for Hartshead Under ACAM?
While the acquisition and delisting are complete, the filing leaves open the question of ACAM’s plans for Hartshead’s mining assets and exploration projects. With new directors installed but no disclosed strategic updates, investors and observers will be watching for further announcements outlining ACAM’s integration strategy and operational intentions. The transition from public company to private ownership often brings shifts in focus and capital allocation, making the coming months critical for Hartshead’s future trajectory.
Bottom Line?
Hartshead’s acquisition closes a chapter on its public life, but the new ownership and board changes raise fresh questions about its strategic path forward.
Questions in the middle?
- What operational or strategic changes will ACAM implement post-acquisition?
- How will the new board steer Hartshead’s exploration and development activities?
- Will ACAM’s ownership lead to further capital injections or asset sales?