Highlights

  • Hartshead Resources has confirmed that its Scheme of Arrangement has become legally effective.
  • ACAM GP Limited, as general partner of ACAM LP, is seeking to acquire 100% of Hartshead’s issued share capital under the Scheme.
  • The Supreme Court of Western Australia approved the Scheme on 11 June 2026.
  • Court orders have now been lodged with the Australian Securities and Investments Commission (ASIC).
  • Trading in HHR shares is scheduled to be suspended from the close of trading on 12 June 2026.

Hartshead Resources NL (ASX:HHR) has announced that its proposed Scheme of Arrangement with ACAM GP Limited, acting as general partner of ACAM LP, has become legally effective following the lodgement of court orders with the Australian Securities and Investments Commission (ASIC).

The latest development marks a significant procedural milestone in the acquisition process under which ACAM will acquire 100% of the issued share capital of Hartshead Resources. The company confirmed that the Supreme Court of Western Australia approved the Scheme on 11 June 2026, with the required court orders subsequently lodged with ASIC on 12 June 2026.

Hartshead Resources shares closed at AUD 0.014 on 12 June 2026. Over the past year, the stock has gained 40.00%.

Scheme Officially Takes Legal Effect

The company advised that the Scheme of Arrangement has now become legally effective following the completion of a key regulatory step.

According to Hartshead, an office copy of the orders issued by the Supreme Court of Western Australia approving the Scheme was lodged with ASIC pursuant to the Corporations Act 2001.

The lodgement of those court orders formally activates the Scheme and enables the transaction to move into its final implementation phase.

The announcement follows the company's earlier update on 11 June 2026, when shareholders were informed that the Supreme Court of Western Australia had approved the Scheme.

With the court orders now lodged, the transaction has advanced beyond the approval stage and entered the final timetable outlined by the company.

ACAM Pursues Full Acquisition of Hartshead

The Scheme provides the mechanism through which ACAM GP Limited, acting as general partner of ACAM LP, will acquire all issued shares in Hartshead Resources.

The company noted that the transaction covers 100% of its issued share capital.

While the latest announcement focused on procedural developments rather than transaction terms, it confirms that the acquisition process continues to progress according to the previously disclosed timetable.

The legal effectiveness of the Scheme is a required step before implementation can occur.

Hartshead stated that capitalised terms used in the announcement carry the meanings previously outlined in the Scheme Booklet dated 30 April 2026.

Court Approval Marks Key Milestone

The Supreme Court of Western Australia issued orders approving the Scheme on 11 June 2026.

The Court ordered that the arrangement between Hartshead and holders of fully paid and partly paid shares be approved pursuant to section 411(4)(b) of the Corporations Act.

The Court also granted an exemption under subsection 411(12) of the Corporations Act relating to compliance requirements associated with the Scheme.

In addition, the Court directed Hartshead to lodge an office copy of the orders with ASIC on or before 12 June 2026.

The company subsequently completed that requirement, resulting in the Scheme becoming legally effective.

Trading Suspension Scheduled

As part of the Scheme process, Hartshead confirmed that trading in HHR shares will be suspended from the close of trading on Friday, 12 June 2026.

The suspension forms part of the standard process associated with implementing a court-approved Scheme of Arrangement.

Following the suspension, investors will no longer be able to trade HHR shares on the market while the Scheme proceeds toward completion.

The next important milestone will be the Record Date, which determines shareholder entitlements under the Scheme.

Key Dates Confirmed for Shareholders

Hartshead provided an updated timetable outlining the remaining steps in the transaction process.

The Record Date has been set for 5:00pm AWST on Tuesday, 16 June 2026. Shareholders recorded on the register at that time will be entitled to receive Scheme Consideration in accordance with the terms of the transaction.

The Implementation Date is scheduled for Tuesday, 23 June 2026.

On that date, payment of the Scheme Consideration is expected to occur and the acquisition process is anticipated to be completed.

The timetable provides shareholders with clarity regarding the remaining stages of the transaction.

About Hartshead Resources

Hartshead Resources is an oil and gas exploration and development company with assets focused on the United Kingdom Southern Gas Basin.

The company's principal asset is its interest in Seaward Production Licence P2607, where Hartshead holds a 40% interest alongside RockRose Energy, which holds the remaining 60%.

The licence area spans approximately 729.5 square kilometres and contains four existing gas fields with approximately 440.5 billion cubic feet of 2C Contingent Resources.

The portfolio has been divided into three phases of development and exploration.

Phase I includes the Somerville and Anning gas fields, while Phase II comprises the Hodgkin and Lovelace gas fields.

Phase III focuses on exploration opportunities and includes approximately 14 prospects and leads containing unrisked 2U Prospective Resources estimated at 344 billion cubic feet.

The company's activities have been concentrated on progressing these gas development opportunities within the UK offshore energy sector.

Transaction Enters Final Stage

The latest announcement signals that the acquisition process has now moved into its concluding phase.

With court approval secured, ASIC lodgement completed and the Scheme legally effective, only the remaining timetable events stand between the current stage and implementation.

The company also reminded shareholders that a dedicated shareholder information line remains available for enquiries regarding the Scheme until 23 June 2026.

Management stated that shareholders and the market would continue to be informed as the transaction progresses through its final stages.

What Does This Mean for Investors?

The latest announcement confirms that Hartshead Resources' Scheme of Arrangement with ACAM has passed an important procedural milestone and is now legally effective.

The Supreme Court of Western Australia has approved the Scheme, the required court orders have been lodged with ASIC and trading in HHR shares is scheduled to be suspended from the close of trading on 12 June 2026.

Investors may now focus on the remaining transaction timetable, including the Record Date on 16 June 2026 and the planned Implementation Date on 23 June 2026, when payment of the Scheme Consideration is expected to occur.